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

 

Revenue Renewal: Tax Modernisation Programme Launched

Revenue Minister Todd McClay today released the first two in a series of public consultations designed to modernise and simplify the tax system. More>>

ALSO:

Scoop Business:
NZ Puts Seven New Oil And Gas Areas Put Up For Tender

A total of seven new areas will be opened up to oil and gas exploration under its block offer tendering system, as the New Zealand government seeks to concentrate activity in a few strategically chosen areas. More>>

ALSO:

Half Full: Dairy Payouts Steady, Cash Will Be Tight

Industry body DairyNZ is advising farmers to focus on strong cashflow management as they look ahead to the 2015-16 season following Fonterra's half-year results announcement today. More>>

ALSO:

First Union: Cotton On Plans To Use “Tea Break” Law

“The Prime Minister reassured New Zealanders that ‘post the passing of this law, will you all of a sudden find thousands of workers who are denied having a tea break? The answer is absolutely not’... Cotton On is proposing to remove tea and meal breaks for workers in its safety sensitive distribution centre. How long before other major chains try and follow suit?” More>>

ALSO:

Scoop Business: NZ-Korea FTA Signed Amid Spying, Lost Sovereignty Claims

A long-awaited free trade agreement between New Zealand and South Korea has been signed in Seoul by Prime Minister John Key and the Korean president, Park Geun-hye. More>>

ALSO:

PM Visit: NZ And Viet Nam Agree Ambitious Trade Target

New Zealand and Viet Nam have agreed an ambitious target of doubling two-way goods and service trade to around $2.2 billion by 2020, Prime Minister John Key has announced. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news