Consultation

ICIS has implemented a process of rolling consultation on all of its pricing methodologies. This Consultation paper GMC27/20 is part of this formal process and covers all of the ICIS primary price points included in the publication European Spot Gas Markets.

The consultation asks both general questions about the suitability of the ICIS pricing methodology and questions addressing specific market issues.

Click here to view the European Spot Gas Markets (ESGM) Consultation 2020

Click here to view the current European Spot Gas Markets methodology European Spot Gas Markets Methodology – 10 August 2020

Decision

On 11 October 2020, ICIS closed its latest consultation paper GMC27/20 covering all of the ICIS primary price points included in European Spot Gas Markets. European Spot Gas Markets (ESGM) Methodology Consultation 2020.

The consultation contained a section asking general questions about the sustainability of ICIS methodology for the markets concerned.

There was also a section about specific market issues regarding the launch of new German gas price assessments at the NCG and GASPOOL hubs. There was also a section on the ICIS approach to launching new price assessments and indices for the German gas market ahead of the merger of the two NCG and GASPOOL hubs planned for 1 October 2021.

ICIS did not receive any formal responses to the consultation.

As a result ICIS is minded to add assessments for the following contracts from 19 November 2020:

  • German Gas: NCG Month+5 and Month+6, Quarter+ 5 and Quarter+6, Season+6, Season+7, Season+8, Season+9 and Season+10.
  • German Gas: GASPOOL Month+5, Month+6 and Month+7, Quarter+5 and Quarter+6, Season+6, Season+7, Season+8, Season+9 and Season+10.

ICIS is minded to add assessments for the following contracts from 1 April 2021:

  • German gas: THE Month+6, Quarter+1, Quarter+2, Quarter+3, Quarter+4, Quarter+5, Quarter+6, Quarter+7, Quarter+8, Quarter+9, Season+1, Season+2, Season+3, Season+4, Season+5, Season+6, Season+7, Season+8, Season+9 and Season+10.
  • German gas: New THE monthly assessments will be added each month. For example on 1 May 2021 ICIS will start to assess the THE November ’21 contract.

ICIS is minded to add assessments for the following contracts from 30 September 2021:

  • German gas: THE Day-ahead, Balance-of-month (BOM) and Working-days-next-week (WDNW).

ICIS is minded to add indices for the following contracts from 30 September 2021:

  • German gas: THE Day-ahead, Day-ahead cumulative, Spot Weekend, Monthly, Monthly Cumulative and Daily Month Ahead.

ICIS is minded to add assessments for the following contracts from 1 October 2021:

  • German gas: THE Weekend assessment on the final working day of each week.

ICIS is also minded to remove all NCG and GASPOOL price assessments and indices from 1 October 2021.

The ESGM methodology document, European Spot Gas Markets Methodology – 10 August 2020 will be updated ahead of these changes taking effect. Should you have any questions please contact ESGM Editor Ben Samuel on +44 (0)207 9111 726 or at ben.samuel@icis.com.

Consultation on this document closed on 11 October 2020