SUBSCRIBER NOTE: Platts amends hourly components of UK NBP EFA day-ahead gas assessment

Effective October 1, Platts has modified the hourly components of its UK NBP EFA day-ahead gas assessment (GNEAV00) to align it with an industry-wide change to the UK's gas day. The start of the UK's gas day changed on Thursday, October 1, to 5 am local time from 6 am, and ends 24 hours later, due to the introduction of EU Gas Balancing and Capacity network codes. The Platts EFA day-ahead gas price is calculated daily as of 11 am London time and provides a power-day-equivalent gas value based on intra-day gas assessments for within-day and day-ahead delivery. The Platts EFA day-ahead gas price is also the gas component of the NASDAQ OMX UK Day-Ahead Spark Spread. The EFA day-ahead gas price is calculated using UK NBP gas Within-day (A) and Next-day (B) assessments. The previous formula was: A*7/24 plus B*17/24, which reflected the difference between the 6 am start gas day and the 11 pm start EFA power day, but was adjusted to account for the change in the gas day. On September 30, the gas day was 23 hours long to account for the change. On September 30, the formula was as follows: A*7/23 plus B*16/23. From October 1, the EFA day-ahead gas price reflects a 24 hour calculation using the following formula: A*6/24 plus B*18/24. The assessments are published on European Power Alert pages 670 and 671, in the Platts UK NBP intra-day gas prices table in European Gas Daily, in the N2EX UK power auction, spark spread table in European Power Daily and in Platts Market Data category EG. Platts continues to invite feedback, comments and questions which can be sent to power@platts.com with copy to pricegroup@platts.com and nathan.richardson@platts.com.