SUBSCRIBER NOTE: Use of ICE bids, offers in monthly natural gas assessments

Following a period of market feedback, S&P Global Platts has decided to amend its methodology for its monthly assessment process for natural gas.

Platts may consider, in addition to other market information, Intercontinental Exchange (ICE) physical bid and offer data during bidweek.

When no transactions are reported, Platts will examine other market information to determine whether it can publish an assessment. These assessments are clearly designated by asterisks in price tables. They are based solely on other information, including but not limited to ICE physical bids and offers during bidweek, an analysis of historical bidweek prices, basis relationships to values at related liquid pricing points, implied physical values derived from financial swaps and derivative index deals, and daily market trading at the point during bidweek. If that is not possible, Platts will publish no price for the month.

Platts will continue to publish assessment rationales for assessed locations that describe the methodology used to derive the assessed price.

The new change will take effect for the February 2017 bidweek survey with trade dates January 25, 26, 27, 30 and 31.

Platts continues to invite comments to gas_survey_comments@platts.com and pricemethodology@spglobal.com.