LNG Price Assessment/Benchmarks
On 30 December 2022, the Council Regulation (EU) 2022/2576 “Enhancing solidarity through better coordination of gas purchases, reliable price benchmarks and exchanges of gas across borders” introduced the task for ACER to produce and publish a new daily Liquefied Natural Gas (LNG) price assessment anda daily LNG benchmark.
As of 1 January 2025, after the expiration of the Regulation 2022/2576, the LNG market data is collected for the LNG price assessment and the daily publication of the LNG benchmark, by ACER under the REMIT legal framework (as per Articles 7a-7e of REMIT).
ACER has 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 of LNG. Stakeholders may use the LNG benchmark voluntarily.
The Commission Implementing Regulation 1348/2014 on data reporting, laying down the rules and channels for REMIT data reporting, currently does not foresee the reporting of LNG market data to ACER for the purpose of the daily publication of the LNG price assessment and benchmark. Nonetheless, the REMIT Implementing Regulation is expected to be revised within 12 months from the entry into force of the amended REMIT and is expected to include the requirements for the reporting of LNG market data as well. The Guidance on LNG market data reporting will be updated accordingly and in consultation with the stakeholders.
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 no later than 10.00 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 REMIT, 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, when relevant, update the LNG data reporting guidance document, taking into account the views of market data reporting parties.
LNG Price Assessment/Benchmarks
LNG data reporting tool
LNG market participants who need to comply with their reporting obligation under REMIT 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.