the European energy market. The new service, Reuters European Electricity and Gas (REEG), delivers the latest news and market analyses as well as Over
The Counter (OTC) and exchange prices on a pan-European and local level to the energy market. It is part of the new Corporates & Media Services customer segment within Reuters.
REEG is the first online energy service to report breaking news and to provide regular and frequent updates on local market structure, regulatory development and environmental issues. Designed to provide essential and accessible information from a single source, it is the first web-based service launched by Reuters specifically for the commodities and energy sector. The service will be aimed at managers, sales and marketing departments and consultants in the energy market and will cost $150 per month per user.
REEG information is compiled from a number of sources, including market analysis from Prospex Research Limited, exchange and price data from a number of key sources, and links to an events calendar from Energyforum. The service also provides useful links to other sites such as local regulators, energy associations and governmental bodies across Europe. Customers can access the service via the Internet or over RadianzNet, the secure extranet for the financial market.
REEG focuses on the core European markets within Europe, specifically the UK, Germany, France, the Netherlands, the Nordic region and Spain and also offers a separate German language edition.
Sarah Dunn, President of Reuters Corporates & Media Services segment, said:
"This launch is the first since the recent formation of the Corporates & Media business and it typifies our approach. The new service is highly customer focused, it's innovative and uses Reuters scale - on this occasion in news gathering. We're launching into a market where the demand for information is growing and we're confident that REEG will provide a new revenue stream for us."
Chris Bourke, Business Manager, Reuters European Power Markets, commented:
"As a result of deregulation in the US and across Europe, there is increasing demand for up-to-the-minute information in order to understand sector developments and manage opportunity and risk. This is a growing market and research has shown that currently there is no other service which offers the breadth of coverage and focus on market context, regulation, and technical and project information that the market needs. REEG is the first product to service this need."