Atlanta, GA, July 11, 2002 — IntercontinentalExchange announced Tuesday that it will begin publishing daily market price reports for North American Natural Gas and Power.
The IntercontinentalExchange North American Natural Gas Price Alert and the IntercontinentalExchange North American Power Price Alert will be published daily at approximately 1:00pm eastern standard time and provide the market with a breadth of pricing information that would not have been possible prior to the advent of electronic trading.
The price reports will include the existing IntercontinentalExchange Daily Price Indices for Natural Gas and Power as well as comprehensive, indicative forward curve pricing for all North American Natural Gas and Power products traded on ICE.
This indicative forward curve pricing will reflect all trading activity on the IntercontinentalExchange for the current day (between 7:00am est and 1:00pm est) and feature a comprehensive range of prices including:
last, high, low, current bid, current offer, day’s best bid, day’s best offer and volume weighted average prices.
“The current state of the energy market has created increased demand for new levels of price transparency and market intelligence,” said Martin Wadhwani, vice president of Market Data Services at IntercontinentalExchange.
“These price reports will extend the comprehensive price discovery and market transparency available via ICE to all participants in the North American energy industry. This100% electronically-generated energy price data combined with the timely, intraday publishing differentiates the new IntercontinentalExchange market publications from what has been available to the industry in the past.”
“The IntercontinentalExchange North American Natural Gas Price Alert is very unique,” says Al Gallo, Manager, Natural Gas Trading at Conectiv. “The quality and breadth of the forward curve pricing is unprecedented. Furthermore, we like that we can quickly discover price values across the hundreds of financial and physical natural gas products traded on ICE.”
“The IntercontinentalExchange North American Power Price Alert raises the bar in terms of power price information,” added Dave Churchman, Director of Term Power Trading at Idacorp. “In the middle of the trading day, we will have access to an incredible array of power price values from across all of the power products traded on ICE. We can quickly determine where prices have been traded and quoted along the forward curve from next day power to calendar strips. Since the information is so timely, we can analyze the data and react to it the same day, if need be.”
The IntercontinentalExchange electronic trading system is used by traders each day of the business week to trade more than 600 listed commodity and derivative contract types around the world. Broadly, these include crude oil and refined products, natural gas, power, precious metals, weather derivatives and emissions allowances. Contract forms include physical delivery as well as financially settled swaps, spreads, differentials and options based on a variety of fixed and floating price indices.
Based in Atlanta, (and with offices in New York, Houston, Chicago, London and Singapore), IntercontinentalExchange also owns the International Petroleum Exchange of London (IPE), an energy futures and options exchange. The IPE provides regulated open outcry and electronic marketplaces where industry participants use futures and options to manage their price risk exposure in the physical energy market. Products traded on the IPE include Brent Crude futures and options, Gas Oil futures and options, and Natural Gas futures.
For more information about IntercontinentalExchange, please visit the website at http://www.intcx.com. More information about IPE can be found at www.ipe.uk.com.