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assessments reflect day-ahead contracts assessed for firm delivery of power on the high voltage network of England, Wales and Scotland, and at the National Balancing Point (NBP) for gas.
The panel had suggested pricing domestic gas at an average of rates at three key international hubs - US Henry Hub, National Balancing Point of UK and well-head prices of supplies into Japan, and the actual cost at which India imports liquid gas (LNG).
Point Carbon data show a gradient from more expensive oil-indexed contracts to German import (BAFA) and British market prices at the National Balancing Point (NBP), Europe's most established gas market.
The physically delivered futures contracts are in the two major natural gas hubs in Europe: the UK National Balancing Point (NBP) and the Dutch Title Transfer Facility (TTF).
National Balancing Point (NBP) Natural Gas futures contract.
Gas price differentials are stated as premiums (discounts) from National Balancing Point pricing, and oil price differentials are stated as premiums (discounts) from Dated Brent pricing.
The OTC market trades spot and forward physical gas and capacity contracts, based primarily on the National Balancing Point (NBP), a virtual balancing point for the UK's transmission network.
Initially, ICE will trade gas at the UK National Balancing Point (NBP), with potential future plans to expand rapidly into other European delivery hubs as they develop into liquid markets.