Subscriber Note: Platts to transition UK power seasons to Gregorian calendar

Following ongoing consultations with industry on the UK power market's plans to transition from EFA trading to the Gregorian calendar, Platts confirms its decision to make changes to the calendar basis of some of its UK power assessments. Effective November 1, Platts will revise its methodology for UK power. We will assess seasons from Winter 14/15 out normalized to a Gregorian calendar product. Platts may include transactions and firm trade indications for an EFA product for assessment purposes should significant liquidity remain in the EFA product. Assessments for all delivery periods prior to October 2014 will continue to reflect the EFA calendar (see table). Platts will also launch assessments of the following EFA-Gregorian gap products, also effective November 1: -- Gap 1 September 29/30 2014, baseload and peakload (GBP/MWh: UKBGG01, UKPGG01; Eur/MWh UKBGE01, UKPGE01) -- Gap 2 March 30/31 2015, baseload and peakload (GBP/MWh: UKBGG02, UKPGG02; Eur/MWh UKBGE02, UKPGE02) Platts continues to pursue discussions with key stakeholders and to engage with the Power Trading Forum of the Futures and Options Association, and invites feedback on the planned calendar transition in the run-up to November 1. Platts also is monitoring Gregorian calendar testing activity closely and invites market participants to report prices, volumes and counterparties to the UK power desk. Please send comments, questions and feedback to ukpowercalendar@platts.com, with copy to pricegroup@platts.com UK power desk: Jillian Ambrose (jillian.ambrose@platts.com, +44 20 7176 6740, Yahoo: ukpower_platts), Francis Browne francis.browne@platts.com, +44 20 7176 6239), Anna Crowley (anna.crowley@platts.com, +44 20 7176 6174).

UK power assessments, calendar basis from November 1 Day-ahead EFA Weekend EFA Week-Ahead EFA Week-Ahead+1 EFA December EFA January EFA February EFA Q1 14 EFA Q2 14 EFA Summer 14 EFA Sept 29/30 2014 EFA-Gregorian Gap 1 Winter 14/15 Gregorian March 30/31 2015 EFA-Gregorian Gap 1 Summer 15 Gregorian Winter 15/16 Gregorian Summer 16 Gregorian Apr 14 Annual EFA Summer 14/Gregorian Winter 14/15 All assessments are baseload and peakload except the weekend, which is baseload only. Assessments are published in GBP/MWh and converted into Eur/MWh.