EU’s ACER launches LNG benchmark

The EU Agency for the Cooperation of Energy Regulators said it had launched its daily liquefied natural gas (LNG) benchmark to provide greater market transparency.

ACER’s daily LNG benchmark is determined by the spread between its daily LNG price assessment for ‘delivery ex-ship’ (DES) LNG spot EU and the settlement price for the TTF gas futures front-month contract established by ICE.

According to ACER, its LNG benchmark traded at a discount of 9.57 euros per megawatt hour to TTF on March 31 and at a discount of 11.97 euros per MWh to TTF on April 3.

ACER said the price of LNG delivered on a DES basis was 38.27 euros per MWh on March 31 and 39.39 euros per MWh on April 3.

In January, ACER launched its DES LNG spot price assessment, and after that it published its first daily LNG reference price in February.

ACER said that the daily LNG benchmark complements its daily LNG price assessments, launched in January.

The LNG benchmark provides for greater market transparency based on mandatory data reporting, and Acer expects the benchmark to reflect “real-world prices” for LNG.

According to ACER, stakeholders may use the LNG benchmark voluntarily.

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