S&P Global Joins with Pexapark to Create New Benchmark for Renewable Energy Pricing

Source: www.gulfoilandgas.com 6/30/2022, Location: North America

S&P Global Commodity Insights, the leading independent provider of information and benchmark prices for the commodities and energy markets, and Pexapark, the leading provider of reference pricing, enterprise software and execution services for renewable power purchase agreements (PPAs), announced an agreement to create jointly renewable energy price indices to help create more transparency in renewable energy markets. The collaboration will combine Platts benchmark expertise with Pexapark's trusted reference pricing of renewable PPAs across European markets.

Powered by Pexapark's unique data set, technology and price assessment methodology, coupled with S&P Global Commodity Insights' Platts index methodology, the new daily price indices will provide enhanced transparency and risk assessment capabilities for renewable energy market participants. Both companies share a goal to create much-needed price benchmarks to drive greater understanding and investment in sustainable energy, including valuing assets, managing volatility, and for generators and offtakers to structure and close PPA deals.

"As the energy transition gathers momentum around the globe, benchmark pricing for sustainable energy is crucial for the evolution and growth of the renewable energy market," said Alan Hayes, Head of Energy Transition Pricing for S&P Global Commodity Insights. "This new family of renewable energy indices will combine the independence and methodology rigor of Platts benchmarking processes with Pexapark's established price data, technology and expertise in this growing and important sector."

Under the agreement, Pexapark will provide evaluated prices for PPAs in solar and wind to S&P Global Commodity Insights for the joint development of renewable energy price indices. These indices will help facilitate growth in deal making for PPAs by creating benchmarks for the market, which S&P Global Commodity Insights expects to play a central role in the renewable energy expansion that will underpin much of the corporate and government energy transition strategies.

"We welcome the opportunity to use our wealth of renewable energy price data to launch new indices backed up by the significant benchmarking experience of S&P Global Commodity Insights," said Michael Waldner, Co-Founder and CEO at Pexapark. "Our company was founded on the purpose of accelerating the energy transition by creating an efficient market for renewable energy, and this partnership is a major step in that ongoing work."


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