Consultation

ICIS may consult on specific changes to its price assessment methodologies from time to time. These changes may be to address an issue identified by ICIS in market structure, market behaviour, an existing methodology or in reaction to feedback from customers or market participants on any of these. Consultation paper GMC38/18 was part of this process.

Click here to view the ESGM-Methodology-Consultation-2018

ICIS received no formal responses to this consultation paper.

Click here to download the current ESGM-Methodology-4-June-2018

ICIS Initial Decision

In line with previous feedback from market participants, ICIS will adjust its methodology for calculating forward currency rates for some European gas contracts. Specifically, ICIS will change the calculation of the USD/EUR and USD/GBP exchange rate for the month ahead contract and base it on the exact month ahead currency rate published by Bloomberg at 16:30 London time.

In addition, assuming the relevant market stakeholders continue with the intended merger two French gas zones to a single Trading Region France (TRF) point on 1 November, ICIS will discontinue the daily price assessment of both PEG Nord and TRS and replace this with a new series of price assessments and indices for the unified TRF hub.

Specifically, on 31 October 2018, ESGM will publish daily price assessments for the TRF on the following contracts: Day-ahead, BOM, front three months, front three quarters, front three seasons and front calendar year; the Weekend contract will be assessed on the session proceeding a non-working English day.

ICIS will also publish the equivalent Trading Region France (TRF) Day ahead and Spot Weekend indices on 31 October.

Please note that ICIS will continue to measure market trends and activity and gather feedback from participants on all of the markets for which it provides pricing. We welcome continued feedback from market participants outside of the formal consultation process

To provide further comments or feedback on the ICIS European Spot Gas Markets, please contact Head of Gas Ben Wetherall or ESGM editor Tom Marzec-Manser:

Ben Wetherall: ben.wetherall@icis.com

Tom Marzec-Manser: tom.marzec-manser@icis.com

Consultation on this document closed on 25 July 2018