CHARLESTON, S.C. and HARPENDEN, United Kingdom, Dec. 17, 2019 (GLOBE NEWSWIRE) -- weatherXchange®, the platform which helps companies access index-based weather risk protection, is pleased to announce the inclusion of the Speedwell Wind Power Production Indices on its platform. Indices are available for thirteen countries, spanning Australia, Europe, and North America.
“The importance of these indices is increasingly obvious each day. These products allow traders and end users the ability to better manage the impact of excess wind power (or lack of wind power) into the grid,” says Dave Whitehead, Co-CEO of weatherXchange. “In the past, wind contribution to total power production was minimal. Today, the management of wind risk cannot be ignored. Recent OTC trading activity on these indices makes this the right time to add these indices to weatherXchange.”
The Speedwell Wind Power Production Indices have been incorporated into the weatherXchange Platform such that all the standard platform functionality is available; structuring, Instantaneous Indicative Pricing, and RFP distribution. The incorporation of these indices into the Instantaneous Indicative Pricing service makes price discovery simple. For a range of indices and structures, users have instant feedback concerning the estimated cost. Marcel-Steffen Reif, Head of Weather & Commodity EMEA at Munich Re says, “The functionality of the Speedwell indices coupled with the technology of weatherXchange has produced a great opportunity for users looking to better understand possible structures and prices. Price discovery can be done on weatherXchange, but then Protection Sellers such as Munich Re can work directly with users to provide firm pricing and finalize the transaction.”
Institutional brokers participating on weatherXchange are equipped to provide transaction anonymity, assistance with firm pricing, and management of complex structures. Recent market trends in the renewables space has led to multiple transactions based upon these indices. “Over the past year we have seen a significant trend in the energy / renewables space for the management of supply side weather risk,” says Nicholas Ernst, Managing Director of Weather Markets, at ICAP. “The Speedwell indices provide for the necessary components of a tradable product, historical data for pricing, daily values for marking your books, and timely / reliable Settlement Data.”
The following Speedwell Wind Power Production Indices are currently available on weatherXchange:
- Australia (NEM, SA, NSW, VIC, QLD, TAS, WEM)
- Belgium
- Denmark
- France
- Germany (50Hertz, Amprion, Offshore, TenneT, Total, TransnetBW)
- Italy
- Netherlands (Offshore, Onshore, Total)
- Norway
- Spain
- Sweden
- Turkey
- United Kingdom (BM, Embedded, Total)
- United States (ERCOT – Coastal, North, Panhandle, South, Total, West)
In addition to these regional indices, custom indices for specific portfolios can be created and loaded onto weatherXchange. These custom indices are designed for renewables generators interested in hedging a lack of output.
About weatherXchange
weatherXchange Limited is part of the Speedwell Weather group of companies which have been involved in the index-based weather risk market since its earliest days in 1999.
The weatherXchange Platform links Hedgers, Broker-Advisors and Protection Sellers thereby helping businesses with weather risk to more easily access climate risk protection. weatherXchange provides free access to thousands of worldwide quality weather data sets and a user-friendly tool to simplify the design of weather protection contracts. These can then be sent at a click of a button to multiple Protection Sellers for pricing. The weatherXchange Platform also offers post-transaction services necessary to settle a transaction and to monitor the performance of a hedge.
For further information on weatherXchange please visit www.weatherXchange.com or contact: ClientOnBoarding@weatherXchange.com.
If your firm is experienced in the weather risk mitigation sector and is interested in working with weatherXchange as a Protection Seller or Broker-Advisor please contact: NewPartners@weatherXchange.com.
weatherXchange Limited is registered in England number 3790989 and authorized and regulated by the Financial Conduct Authority. Its registered address is Mardall House, 9-11 Vaughan Road, Harpenden, Hertfordshire AL5 4HU.
David Whitehead
Co-CEO
weatherXchange
418 King St, Floor 2, Charleston, SC 29403, USA
T: +1 (843) 737-4843
E: david.whitehead@weatherxchange.com
Web: www.weatherXchange.com