LONDON, Oct. 6 /PRNewswire/ -- Global energy price reporting agency Argus has expanded its coverage of the biomass market with the launch of a weekly price index for industrial wood chips delivered to northwest Europe. Argus is also launching forward price assessments for wood chips up to 2012.
The launch comes in response to growing demand for an independent price reference for wood chips, which are expected to become one of the main fuels for new biomass-fired power generation capacity planned in the EU in line with targets on the expansion of renewable energy. More than 4GW of biomass-fired capacity is planned in the UK alone.
Price assessments for the wood chip market build on Argus' coverage of the industrial wood pellet market, which was launched in May 2009. Wood pellets, and increasingly wood chips, are widely acknowledged as the most advanced biomass products in terms of commoditisation and the ability to trade under standard terms.
Wood chip and pellet price assessments are published in Argus Biomass Markets, a weekly report that also provides analytical market commentary, news and analysis of generation economics.
"The provision of an independent price index for wood chips represents another important step towards the development of a liquid spot market for this emerging fuel source. It offers sellers, buyers and investors a robust price reference on which to base business decisions as the expansion of the biomass sector accelerates," Argus Media chairman and chief executive Adrian Binks said.
Argus has set out a list of standard product specifications for its wood chip coverage, following consultation with market participants.
Argus specifications for wood chips and wood pellets are listed in the methodology for Argus Biomass Markets, which is available online at www.argusmedia.com/methodology.
For further information contact: Stuart Penson or Brodie Govan in London +44 20 7780 4200, or email email@example.com
Argus Media is a leading provider of price assessments, business intelligence and market data on the global biomass, natural gas, coal, electricity, oil, emissions and transportation industries. It is headquartered in London and has offices in Houston, Washington, Jersey City, Johannesburg, Dubai, Singapore, Tokyo, Beijing, Sydney, Moscow, Astana, Kiev and other key centres of the energy industry. Argus was founded in 1970 and is a privately held UK-registered company. Learn more at www.argusmedia.com.
SOURCE Argus Media