ICIS is implementing a process of rolling consultation on all of its pricing methodologies. This consultation paper is part of this formal process and covers all of the ICIS primary price points included in the European Spot Gas Markets (ESGM) publication.
The consultation asks both general questions about the suitability of the ICIS pricing methodology and questions addressing specific European Spot Gas Markets (ESGM) market issues.
Click here to view the European Spot Gas Markets – Methodology Consultation April 2024
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 questions on ICIS Zeebrugge assessments and indices and on ICIS TLX LNG for truckloading index.
Summary
ICIS received three written responses, all confidential. This summary takes into account all responses.
All respondents supported ICIS’s proposal to continue to publish Zeebrugge gas assessments and indices at least until October 2025.
All respondents had no comment on ICIS’s general methodology.
ICIS did not receive any response on its proposal to discontinue the publication of its ICIS TLX index.
Decision
ICIS will continue to publish Belgian Zeebrugge Day-ahead, Weekend and Month+1 implied transitional assessments at least until 1 October 2025. ICIS will consult the market before that date to decide whether the publication of these assessments is still needed beyond October 2025.
This is in line with ICIS minded-to position and the majority of respondents to the consultation.
These will continue to be implied assessments based on the ICIS ZTP assessment published on the day minus transport costs from the Zeebrugge interconnection point to ZTP.
ICIS will also continue to publish the Heren Zeebrugge Day-ahead, Weekend, Spot Weekend, Monthly and Daily Month-Ahead indices until at least 1 October 2025. As Zeebrugge contracts have ceased to trade, these indices will be calculated in line with the ESGM methodology provision applicable when there are no eligible trades.
ICIS will discontinue the publication of its ICIS TLX index due to lack of liquidity on the market assessed and based on feedback gathered from market participants active on the market.
The ESGM methodology document will be updated ahead of these changes taking effect. Should you have any questions please contact ESGM Editor Alice Casagni at alice.casagni@icis.com.
