* Please see the amendment in blue font below to the original Notice of Proposed Change to NGI’s Bidweek Survey, which was posted Feb. 1.
Dear NGI Subscribers, Price Reporters and Market Participants,
In response to a public request for comment published by S&P Global Platts, Natural Gas Intelligence (NGI) is requesting feedback on whether to condense the bidweek trading period from five (5) days to three (3) days effective for the June 2021 bidweek, which commences trading on May 24.
This proposal would align the bidweek price index determination period with the final three-day settlement period of the natural gas futures contract traded at the CME. Deals conducted on the final two business days of the month (days 4 & 5), which typically see low volume and high price volatility, would no longer be included in NGI’s bidweek price determination process.
Should this proposal be instituted, NGI would ask its price reporters to submit their final trade report no later than the conclusion of trading on the third-to-last business day of the month and NGI would publish Bidweek Indexes by 6 pm ET the following business day.
NGI is asking price reporters to advise whether the proposed changes to the bidweek reporting process would require any modifications to IT and/or other internal systems that may require a longer lead time to implement, should the proposed changes become effective.
Believing that transparent markets empower businesses, economies and communities, NGI provides natural gas price transparency and key news, insights and data for the North American energy markets.
Please send comments or questions to firstname.lastname@example.org. Alternatively, I am happy to discuss @ 713.502.7085. The deadline for comments is March 31, which would allow us to make a final decision no later than May 1.
Price and Markets Editor
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