ICIS data helps Ofgem to make UK wholesale traded markets more widely accessible to energy consumers and stakeholders
London, UK, 20th January 2017 – British energy regulator Ofgem has chosen ICIS to provide gas and electricity market data for use in its Supplier Cost Index.
Ofgem as a national regulatory authority works to protect the interests of existing and future electricity and gas consumers. Its new index estimates ongoing trends of the main cost elements for suppliers in serving typical domestic consumers.
Rob Kolkman, Managing Director at ICIS, said:
The Competition and Markets Authority’s choice of ICIS data reflects its quality and its widespread usage amongst both regulatory bodies and industry participants.
As the most trusted provider of real UK wholesale energy market data, our price references will help to ensure the UK markets function effectively for all stakeholders.
Ofgem’s new index builds on recommendations made by the Competition and Markets Authority in its Energy Market Investigation, which also selected ICIS data.
ICIS has brought transparency to energy pricing for more than two decades. The market valuations that it produces are widely referenced in wholesale supply contracts, both in the UK and globally.
The new index builds on recommendations made by the Competition and Markets Authority in its Energy Market Investigation, which also selected ICIS data.
ICIS is an independent price reporting agency focusing on global energy, petrochemical and fertilizer markets, and we have covered the complex UK electricity market for nearly two decades. Every day, we assess electricity contracts for more than 40 different delivery periods in the UK market alone. The analysis and data that we produce is widely used as a reference price in energy contracts. It is our aim to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. ICIS is a division of Reed Business Information, part of Reed Elsevier Plc.
With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. ICIS is a division of Reed Business Information, part of Reed Elsevier Plc.
About Reed Business Information
Reed Business Information provides information, analytics and data to business professionals worldwide. Our strong global products and services hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group, a world-leading provider of information and analytics for professional customers across industries. http://www.reedbusiness.com
About Reed Elsevier
RELX Group is a world‐leading provider of information and analytics for professional and business customers across industries. The group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. The total market capitalisation is approximately 28.2bn GBP / 32.5bn Euro / 34.7bn USD. www.relx.com
Tara Sabanandan, Marketing Manager, ICIS
Direct: +44 (0) 207 911 1713
React quickly to real-time breaking news and maintain your competitive advantage in this dynamic industry.
ICIS news provides you 24 hour global coverage. Our expert editors bring you the latest market moves, capacity, shutdowns, analysis, data and more for over 180 commodities.
The service is reliable, independent, authoritative and customized to your needs.
Independent and reliable pricing and market intelligence for the global chemical and oil markets.
Price assessments, indices, news and analysis for the oil, gas, liquefied natural gas, carbon and coal sectors.
Key price assessments for all fertilizer products, including nitrogen, sulphur, ammonia, urea and phosphates.