Relaunch of the LCH EnClear OTC Energy Service for UK NBP Gas

LCH.Clearnet is pleased to announce that it will be relaunching its OTC Clearing service for UK Gas, following changes to the underlying contractual agreements with its Members.  These changes will harmonise the contractual agreements for cleared OTC UK Gas and Power contracts with other LCH EnClear Energy Services, such as Freight. The following changes will be introduced:

- The distinction between General Clearing Members and Individual Clearing Members will be removed together with the (LCH EnClear OTC Third Party Clearing Agreement, and the OTC Energy Clearing Approval agreements for GCMs and ICMs. These will be replaced by a single Clearing Extension Agreement which all clearing members clearing OTC UK Gas and Power contracts on LCH EnClear OTC Energy Services will be required to sign.

Existing Members of the LCH EnClear OTC Energy Service for UK Gas and Power contracts will be contacted in due course regarding arrangements for the termination of existing agreements. 

A further circular will be sent out shortly to all Members giving full details of the relaunch and contract specifications. The contract will be cleared on the  ECS clearing system.

If you have any questions, please do not hesitate to contact me on +44 207 426 7460 or email Isabella.kurek-smith@lchclearnet.com

Isabella Kurek-Smith
Head of Energy and Freight Markets