London, July 30, 2003 – The London Energy Brokers’ Association (LEBA) announced that on 31 July 2003 it would be launching a series of UK power indices that it is hoped will drive liquidity in the UK energy markets.
The indices are the Day Ahead Window, Working Days, Monday-Friday Peak, and All Days. Each index will be the average of all day ahead baseload electricity trades weighted according to volume and price information supplied by the participating brokers (see list below). The indices, respective transaction volumes and related information will be published on Moneyline Telerate page 47400 by 0900hrs London time on each London business day.
Michael Beales, Chairman of LEBA, commented: “LEBA is committed to providing data which accurately reflects market activity in the physically traded UK OTC electricity markets. LEBA believes that the new indices will be beneficial to trading institutions and facilitate the trading and hedging of the principal underlying commodity. The addition of a time-sensitive windowed format should also allow the creation of a paper market to enhance liquidity in the physically traded markets.”
GFInet UK Ltd
Prebon Marshall Yamane (UK) Ltd
ICAP Energy Ltd
Spectron Futures Ltd
The Link Asset and Securities Company Ltd
The London Energy Brokers’ Association is the recently-formed industry association representing brokers in London’s oil, power, natural gas and related markets. The Association exists to promote the business interests and general welfare of the OTC energy broking industry in the UK.