SUBSCRIBER NOTE: Platts to publish European gas midpoints, extend assessments to 3 decimal places

Following industry consultation, Platts will publish from July 1, 2015, a single mid-point value for each of its European natural gas assessments in pence/therm, Eur/MWh, Eur/Gj, and $/MMBtu.

The value would reflect Platts closing assessment for each contract, equivalent to the midpoint of the current high-low assessment range.

In addition, Platts will database and publish all European natural gas assessments to three decimal places, also from July 1 in European Gas Daily, European Power Alert, Natural Gas Alert and Platts Market Data.

Platts seeks to publish the most relevant price data in its daily newsletters and real-time services. Accordingly, Platts will publish price assessments in its European Gas Daily newsletter and European Power Alert and Natural Gas Alert real-time services that reflect the midpoint values only, effective July 1, and will no longer display the high and low range.

Platts will continue to publish a high-low range around its midpoint assessments for all European gas symbols in Market Data categories EG and GF.

Following a period of consultation, ranges for all contracts will be standardized as follows:

- Primary assessments in Eur/MWh: plus/minus 5 euro cent for the most liquid continental European hubs. Applicable markets as of June 2015: Dutch TTF

- Primary assessments in Eur/MWh: plus/minus 10 euro cent. Applicable markets: Austrian VTP, French PEG Nord, French PEG Sud/TRS, German GASPOOL, German NetConnect, Italian PSV.

- Primary assessments in p/th: plus/minus 0.10 p/th. Applicable markets: Belgian Zeebrugge, UK NBP

The fixed ranges applied to the midpoint assessments would be subject to ongoing review. Any changes would be notified by subscriber note and methodology clarification. Platts continues to invite feedback, comments and questions to power@platts.com with copy to pricegroup@platts.com.