HOUSTON, July 12, 2018 /PRNewswire/ --
ICIS, the leading provider of pricing information, news and analysis for Mexico's deregulated energy markets, is pleased to announce the growth of its power market price survey with the inclusion of three new contract types.
Price indications for notional two, three and five year contracts for potential power transactions on Mexico's MEM wholesale power market were included in the flagship Mexico Energy Report publication on 11 July in addition to the one-year contract already included.
The survey results show that a two-year contract for the Valle de Mexico Norte node, which covers the Mexico City region, could transact at MXP1282/MWh (US$67.59 /MWh) for a contract beginning October 2018, assuming both buyers and sellers make equal concessions to secure a deal. Three and five-year contracts at the same node with the same start date could transact at MXP1295/MWh and MXP1162/MWh, respectively.
Through the survey, participants are asked to submit bids and offers in Mexican Pesos per MWh for the purchase or supply of 5MW of power to one of the seven nodes on the national SIN power grid, three of which were added in the first quarter of 2018. Responses are submitted to represent the full local marginal price, inclusive of the costs of energy, congestion and losses.
The inclusion of the new contract types show the growth in both interest and activity in Mexico's power market, which continues down the path of full deregulation initiated with the launch of the MEM in January 2016.
ICIS was the first price reporting agency to offer price transparency on any Mexican energy commodity market with the launch of the first power market survey in March 2017. The new contract types and nodes underline the company's commitment to providing the best coverage and transparency for the Mexican power and gas markets
"We're very grateful to participants who have made the survey expansion possible through their submissions and feedback. We look forward to continuing to work with them to bring additional transparency to the market in line with the pace of its liberalization," said Claudia Espinosa, editor of the Mexico Energy Report.
Since its launch in May 2015, the ICIS Mexico Energy Report has become the leading English language news source for Mexico's rapidly developing power and gas markets.
The report provides exclusive news and in-depth analysis on the latest projects, prices and legislation affecting the Mexican energy sector on a weekly basis, offering the insight that global businesses and investors need to evaluate opportunities in Mexico's emerging power and gas markets.
To find out more about the Mexico Energy Report, click here.
ICIS is the world's largest petrochemical market information provider and also publishes benchmarks that are widely used in the energy and fertilizer markets. Our aim is to give participants in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience providing pricing information, news, analysis and consulting to buyers, sellers and analysts.
ICIS has a global staff of more than 400, and its main offices are in London, Singapore, Shanghai, Houston, New York, Karlsruhe, Milan, Guangzhou and Tokyo. Its Editorial team of 180 report thousands of market prices and news events each week, and ICIS is fully committed to upholding the highest principles of verification, corroboration and authentication. ICIS has a compliance framework that along with its methodologies and business processes adheres to the requirements of the IOSCO PRA Principles, and has successfully passed annual external audits since those regulatory guidelines were introduced in 2012.
ICIS is a division of Reed Business Information, part of RELX Group. Further information can be found at www.icis.com.
About Reed Business Information:
At Reed Business Information we provide information and online data services to business professionals worldwide. Customers have access to our high-value industry data, analytics, information and tools. Our strong global brands hold market-leading positions across a wide range of industry sectors including banking, petrochemicals and aviation where we help customers make key strategic decisions every day. RBI is part of RELX Group Plc, a leading global provider of data, information and solutions for professional customers.
About RELX Group:
RELX Group is a world-leading provider of information solutions for professional customers across industries. The group employs about 28,000 people of whom half are in North America. RELX PLC is the London Stock Exchange listed vehicle for holding shares in RELX Group. Shareholders in RELX PLC own a 52.9% economic interest in RELX Group. RELX NV is the Amsterdam Stock Exchange listed vehicle for holding shares in RELX Group. External shareholders in RELX NV own a 47.1% economic interest in RELX Group. The total market capitalisation of the two parent companies is approximately £32.7bn/ €36.9bn/$43.3bn. Its shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RUK and ENL. www.relx.com
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Marketing Manager, ICIS