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Houston, August 9,
2004
-Top energy brokers Amerex Energy, ICAP Energy, Prebon Energy
and TFS Energy announced today that they have formed EnergyCurves
LLC to provide North American power and gas data services
to the energy markets. The initial EnergyCurves products
will be forward price curves for the North American gas and
power markets which energy companies and related businesses
can use to mark their books to market. This is the first
time that a group of North American over-the-counter (OTC)
energy brokers of this magnitude have come together to address
such a pressing issue in the energy industry. Together, this
group brokers the majority of OTC transactions in these markets.
“The U.S. gas and electricity markets are in need of a reliable and robust source of unbiased forward price curves” according to an EnergyCurves spokesperson. “Whether you are calculating your daily risk exposure, pricing future purchases and sales, or moving towards Sarbanes-Oxley compliance, EnergyCurves can help you to meet your business needs.”
EnergyCurves data will be aggregated by a third party. Each individual broker’s indicative end-of-day prices will be independently compiled into a set of forward curves with these curves then prepared for redistribution to customers and other data vendors. Currently, companies gather broker quotes, futures quotes and historical spot pricing from participants in the energy industry in order to internally generate forward price curves to mark their books to market in accordance with accounting standards. EnergyCurves simplifies the generation of forward price curves with unbiased data from the most active energy brokers and allows for a seamless interface for data to be sent to customers.
“Because EnergyCurves
comprises data from four of the nation's top energy brokers,
it is the information source for complex derivative products,
and therefore ideally positioned to provide the global energy
markets with hard-to-find, independent market data”, remarked
another EnergyCurves spokesperson. “Having our data compiled
by a third party aggregator will provide the transparent
and auditable prices the energy industry needs."
About Amerex Energy
Amerex Energy is a leading over-the-counter energy brokerage offering services
in electricity, natural gas, crude oil, petroleum products, freight brokerage,
coal, gas liquids, emission credits and allowances and energy data services.
Founded in 1978, Amerex has offices in Houston , London , Singapore and Tokyo
. Amerex offers liquidity and timely execution to meet the needs of a global
client network of more than 500 firms and over 1,700 traders and risk management
professionals. www.amerexenergy.com
About ICAP Energy
An innovative leader in the energy industry, ICAP Energy LLC offers full service,
over-the-counter energy brokerage services providing real-time price discovery
and execution. ICAP Energy LLC has offices in Louisville , Chapel Hill ,
Houston , Jersey City , on the NYMEX floor Amsterdam and Bergen . Brokerage
services include coverage of financial and physical products in natural gas,
electricity, coal, weather derivatives, emissions, refined products and other
energy related products in seven countries. More information is available
at us.icapenergy.com .
About Prebon Energy
As a leading global energy broker, Prebon Energy provides power marketers,
utilities, producers, risk managers and institutions with a single comprehensive
source for price information and liquidity in a broad and expanding range
of energy markets, including coal, natural gas, oil and power. Prebon Energy
is part of the Prebon Group of companies, a leading international financial
products, energy and commodities broking group. For additional information
about the Prebon Group go to www.prebon.com
About TFS Energy
Founded in 1985, TFS is a
market leader in the inter-dealer brokering of financial & non-financial
OTC physical and derivative products. With offices in all
the world's major financial centers, the Company covers
global forex, commodity, and equity markets. TFS Energy
brokers a full spectrum of energy and energy-related physical
and derivative products and exchange traded futures and
options. Products include electricity, natural gas, crude
oil and refined products, coal, emissions and weather derivatives.
More information is available at www.tfsenergy.com .
For
More Information Contact:
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Copyright 2002 Prebon Group Limited. All Rights Reserved. Disclaimer
EnergyCurves
LLC