SUBSCRIBER NOTE: Platts corrects Oct 1-Nov 17 Q1 15 UK CPS clean spark spreads

Platts has corrected its UK CPS clean spark spread price history for Q1 15 (quarter-ahead) for the period October 1 to November 17, 2014.

Platts CPS clean spark spreads are indicators of the theoretical profitability of UK gas-fired power plants operating at 45% and 50% efficiency, allowing for the cost of gas and emissions and incorporating the cost of the UK government's Carbon Price Support (CPS) levy.

The spreads reflect the Treasury's confirmed CPS rates of GBP9.55/mt from April 1, 2014 to March 31, 2015, GBP18.08/mt from April 1 2015 to March 31, 2016 and GBP18.00/mt from April 1, 2016 to March 31, 2017.

The formula for Q1 15 was incorrectly applying a CPS levy of GBP18.08/mt. This has now been amended to GBP9.55/mt. The affected symbols are below and the price history will be published in the November 21 edition of European Power Daily dated November 24. CKHQ100 UK Cln Spk Sprd (Carbon Price Support) 1 QA 45% GBP/MWh CEHQ100 UK Cln Spk Sprd (Carbon Price Support) 1 QA 45% Eur/MWh CKGQ100 UK Cln Spk Sprd (Carbon Price Support) 1 QA 50% GBP/MWh CEGQ100 UK Cln Spk Sprd (Carbon Price Support) 1 QA 50% Eur/MWh Market Data category EM has been updated, and a full table of the corrected data is available on request from power@platts.com with copy to pricegroup@platts.com.