ICAP Energy Hub to provide greater price transparency in Australian gas market
Sydney, April 2018: ICAP Energy Australia and New Zealand, part of TP ICAP group, the world’s largest interdealer broker, is today pleased to announce the launch of its new Australian Energy Hub, which will provide greater price transparency in the Australian gas market.
The Energy Hub builds on the existing capability of the ICAP Fusion platform, which currently provides volume matching sessions for the wholesale electricity and renewables markets in Australia.
The Energy Hub will add several important features to the ICAP Fusion platform, providing data on the Australian physical wholesale gas market and making forward curve price transparency available for three regions – South East Queensland, Wallumbilla and Culcairn. It will also extend twice daily volume matching sessions to customers as well as a whiteboard screen for users to easily discover intra-day pricing.
This capability will provide greater price transparency and liquidity in the Australian gas market – currently a key priority for customers and policy makers.
Commenting on the launch of Energy Hub, Kellee Campbell, Divisional Director of ICAP Energy Australia and New Zealand said: "The launch of the Energy Hub on the ICAP Fusion platform is a clear demonstration of ICAP’s commitment to being a market leader in the growing Australian gas market.
"Energy Hub helps to address industry need, providing price dissemination coupled with volume matchings sessions as well as longer dated price transparency and liquidity. The launch of Energy Hub in the Australian market builds on ICAP’s track record in the region, providing innovative technology solutions to our clients."
ERM Power, one of the largest traders and hedgers of electricity, gas & renewables in Australia, today welcomed the introduction of the new platform.
David Guiver, Executive General Manager Trading, said: "Liquid financial markets in both electricity and gas are vital for efficient customer pricing and for risk management."