Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Transpower’s emsTradepoint used for NZ gas futures contract

14 April 2014

Transpower’s emsTradepoint to be used by ASX for a New Zealand gas futures contract

Transpower and ASX announced today that they are working together to develop a New Zealand Gas Futures contract based on the emsTradepoint gas spot market.

Transpower Chief Executive Alison Andrew said it’s great to see external recognition of the new gas market, emsTradepoint and the service that it is providing.

“We believe this reflects confidence that the emsTradepoint market will provide a reliable and reflective domestic natural gas price. Even in its early stages, emsTradepoint is proving successful and an important addition to NZ’s gas industry.”

“The success of emsTradepoint stems from the industry sponsor approach that we took to establish the market. Working with key sponsors OMV, Vector and Methanex, we were able to provide a product designed by the industry, for the industry.

“Since establishment, we have seen strong growth, with March 2014 seeing the highest level of activity since trading began in November 2013.The establishment of a New Zealand Gas Futures contract by ASX is another positive step for New Zealand consumers and the gas industry”, Alison Andrew said.

ASX General Manager OTC and Derivatives Rohan Delilkhan said that ASX was pleased to be working with emsTradepoint on the continuing development of the New Zealand energy market, and believes that cooperation between ASX and emsTradepoint benefits New Zealand energy market participants.

“A New Zealand Gas Futures contract is an important addition to the suite of risk management tools already available to the New Zealand energy industry. It also complements ASX’s existing New Zealand electricity derivatives and will create efficiencies through improved price discovery for important industries in the New Zealand economy”, Rohan Delilkhan said.

The Minister of Energy and Resources, Hon Simon Bridges will attend and mark the launch of emsTradepoint this evening.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Interest Rates: NZ Dollar Jumps After RBNZ Trims OCR

The New Zealand dollar jumped more than half a US cent after Reserve Bank governor Graeme Wheeler cut the official cash rate by a quarter-point and said the currency needs to be lower, while dropping a reference to criteria that justified intervention. More>>

ALSO:

Drones: New 'World-Class' Framework For UAVs

The rules, which come into effect on 1 August, recognise the changing environment and create a world-class framework that accommodates ongoing development while still ensuring the safety of the public, property and other airspace users. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news