Macquarie Generation joins globalCOAL
LONDON AND SINGAPORE – 14 October 2010
globalCOAL® announced today that Australian power producer Macquarie Generation has joined the globalCOAL trading platform as a Market Member.
A State-owned corporation, Macquarie Generation is a producer and wholesaler of electricity to the National Electricity Market in Australia. Through its two power stations Liddell and Bayswater, it produces approximately 15% of the electricity consumed in Eastern Australia. Macquarie Generation is the largest domestic buyer of Hunter Valley Coal.
“We’re pleased to see our Australian membership growing with this new addition, which is particularly significant as it is the first Australian power producer to join the globalCOAL platform. Suppliers are increasingly looking to price coal into the domestic market with reference to the globalCOAL NEWC Index®,” said Patrick Markey of globalCOAL.
“In addition, globalCOAL is continuing to expand its product suite in Australia by adding a new specification to its standard contract SCoTA®, which will enable its users to trade coal delivered FOB at the NCIG port. Our intent is to increase optionality for NEWC market participants, and therefore improve liquidity.” Markey added.
The new FOB NCIG specification will be released as part of SCoTA v.7d on 24 October 2010.
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