LNG Price Assessment/Benchmarks
On 30 December 2022, Council Regulation (EU) 2022/2576 “Enhancing solidarity through better coordination of gas purchases, reliable price benchmarks and exchanges of gas across borders” entered into force.
The Regulation tasks ACER with producing and publishing:
- A new daily Liquefied Natural Gas (LNG) price assessment starting no later than 13 January 2023;
- A daily LNG benchmark from 31 March 2023.
The Regulation grants ACER the necessary powers to collect the data needed for the establishment of the LNG benchmark.
The LNG benchmark provides for greater market transparency based on mandatory data reporting; and reflects real-world prices for LNG. Stakeholders may use the LNG benchmark voluntarily.
Where to find the ACER’s daily LNG price assessment and benchmarks?
- ACER LNG price assessment every weekday before 18.00 CET on the Price Assessment page of the TERMINAL platform.
- ACER LNG benchmark every weekday as soon as technically possible, but typically at 21.00 CET, on the LNG Benchmark page of the TERMINAL platform.
Expert Group on LNG price assessment/benchmarks
Access more information on Expert Group on LNG price assessment/benchmarks.
LNG Price Assessment/Benchmarks
ACER’s daily LNG price assessment and benchmarks
Where to find ACER’s daily LNG price assessments and LNG benchmarks?
From 13 January 2023, ACER publishes its LNG price assessment every weekday before 18.00 CET.
From 31 March 2023 onwards, ACER publishes its LNG benchmark every weekday typically at 21.00 CET. The pdf report will be available at 09.00 CET the next working day.
The primary publication site for both is the Price Assessment page of TERMINAL. In case TERMINAL is not available, ACER will (exceptionally) publish the daily assessments and benchmarks on this page.
Documents
LNG Price Assessment/Benchmarks
Media briefing
LNG Price Assessment/Benchmarks
LNG data reporting guidance for market participants
The purpose of the document is to provide a comprehensive guidance to LNG market participants on how to report LNG market data to ACER in accordance with the requirements specified in the Regulation, thus enabling them to adequately fulfil their reporting obligation.
ACER consulted with the market participants on the draft Guidance after the initial proposal by the Commission was published on 18 October 2023.
ACER shall regularly review and update the methodology used for LNG market data reporting, taking into account the views of market data reporting parties. In doing so, ACER will also update this guidance document, after consulting with the relevant stakeholder groups in order to align the LNG market data collection whenever deemed necessary.
LNG Price Assessment/Benchmarks
LNG data reporting tool
LNG market participants who need to comply with their reporting obligation under the Regulation will be able to submit records on LNG market data to ACER.
For LNG market data collection purposes, ACER has set up a dedicated data collection system named TERMINAL, where LNG market participants must register and create a user account.
LNG Price Assessment/Benchmarks
LNG Price Assessment and Benchmark Oversight Committee
The Oversight Committee consists of three members:
- Head of the Coordination, Operations and Legal Department
- Head of the Market Surveillance and Conduct Department
- Head of the Gas, Hydrogen and Retail Department
The members have been appointed by the ACER Director. The relevant tasks refer to Article 5 of the Regulation (EU) 2016/1011 (Benchmark Regulation) as a best practice.
LNG Price Assessment/Benchmarks
External audits
The LNG price assessment and benchmark methodology, designed based on the IOSCO Principles for Price Reporting Agencies and for Financial Benchmarks, states that an external auditor will be tasked with reviewing and reporting on ACER’s adherence to its methodology and principles.
The first external audit has been successfully carried out in 2024. Read more on the main findings.