SOURCE: Barclays Capital

June 30, 2008 08:43 ET

Barclays Capital Launches US Power Index

First US National Benchmark Index for Power Prices

NEW YORK, NY--(Marketwire - June 30, 2008) - Barclays Capital, the investment banking division of Barclays Bank PLC, today announced the launch of its US Power Index, the first investable index to comprehensively track the national price of electricity across all actively traded regional markets in the US. The index provides investors with both broad exposure to the US power industry and a new method for hedging either regional or national wholesale power prices.

Designed to track the forward price of US power, the Barclays Capital US Power Index monitors performance of peak power forward contracts over a range of maturities. Power prices from the most representative trading hubs in six actively-traded US regions are weighted by historical annual peak electricity demand in order to create a family of national indices for various maturities. Regional indices are also available.

"As a global leader in commodities markets, Barclays Capital is pleased to launch the first tracking tool for a US national benchmark in power prices," said Joe Gold, Managing Director and Co-Head of Global Commodities at Barclays Capital. "Power is an important component of the global commodities infrastructure, and this index offers our clients the necessary exposure to manage risk against changes in US power prices."

The Barclays Capital US Power Index launches as the power industry faces the long-term challenge of new infrastructure investment. According to the International Energy Agency's World Energy Outlook, the largest investment requirement in coming years across all energy sources is in Organization for Economic Co-operation and Development (OECD) countries' power generation, as existing power infrastructure is retired. This requirement, combined with a consensus outlook for continued strong demand, has made US power a notable area of focus for investment.

Barclays Capital will provide data, analytics and support for the index via web-based and other e-commerce protocols. The indices are available on Barclays Capital's index products website ( and a subset of the index family via Bloomberg BCIX < go >.

Note to press: Barclays Capital will provide additional research on power markets upon request.

About Barclays Capital

Barclays Capital is the investment banking division of Barclays Bank PLC which has an AA long-term credit rating and a balance sheet of over £1.2 trillion (US$2.4 trillion*). With a distinctive business model, Barclays Capital provides large corporate, government and institutional clients with solutions to their financing and risk management needs. Barclays Capital has offices in 29 countries, employs over 16,200 people and has the global reach and distribution power to meet the needs of issuers and investors worldwide.

For further information about Barclays Capital, please visit our website *US$ figure was derived using the US$/£ exchange rate at 12.31.07 of US$2.00/£1

About Barclays

Barclays is a major global financial services provider engaged in retail and commercial banking, credit cards, investment banking, wealth management and investment management services, with an extensive international presence in Europe, the USA, Africa and Asia. With over 300 years of history and expertise in banking, Barclays operates in over 50 countries and employs 135,000 people. Barclays moves, lends, invests and protects money for over 38 million customers and clients worldwide.

For further information about Barclays, please visit our website

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