Platts Inside FERC Bidweek Watch will be published in parallel with ICE monthly indices — starting September 25 and continuing to November 30, 2017; after which time, ICE will discontinue publishing ICE monthly indices. Click here to sign up for complimentary access to Platts reports during this period.

Indices are compiled using prompt month trades confirmed on the ICE and through the eConfirm trade confirmation system during the last 5 trading days of the previous month.

Methodology

The Month Ahead index is calculated by taking the volume-weighted average price of all trades that occur during the last five trading days (Determination Period) for flow during the entire prompt month. The calculation is not the average of five daily volume-weighted calculations, but rather of all trades that are electronically confirmed on ICE and through eConfirm during the last five trading days.

Hub Availability

Currently, all ICE-listed hubs with deals confirmed on ICE and through eConfirm during the bid week period are included in the Month Ahead report. Due to the less-liquid nature of certain hubs, the number of pricing points may differ from month to month, based on actual trading at each hub. In the event that no trades are recorded at a particular hub, that hub will not be priced in the publication.

Calculation of ICE Month Ahead gas indices

Calculation of the indices follows the following formula:

I = Σ (P • V) / T

where:

I = Volumetric Weighted Average Index Price,

P = price or premium of individual transaction,

V = volume of individual transaction,

Σ(P•V) = sum of each transaction's price multiplied by its volume,

T = total volume of all qualifying transactions.

The following types of trades are non-qualifying, and are not included in the indices:

• Trades done between two companies that are owned by the same parent company
• Price basis spread legs i.e. spread trades that are executed on a trading platform that subsequently are converted into two outright prices for trade reporting purposes
• Deals that have been consummated but then cancelled or altered by the counterparties before confirmation
• Trades where counterparties reverse a trade within two minutes of the previous transaction
• Option Trades Deals that fall outside of the given time period for each index

Unless specified otherwise, volume is displayed in MMBtu's and index prices are in US dollars. Due to the inclusion of Canadian hubs, some locations may be in GigaJoules per Canadian Dollar, which will be indicated.

Selected Data Available

The following data is published for each hub quoted:

• Location - as defined in the ICE Product Guide.
• High - the absolute high price for the period.
• Low - the absolute low price for the period.
• Index - weighted average price.
• Volume - total contracts traded for the period counting the sell side only.
• No. of Trades - number of trades confirmed through ICE and eConfirm that were used in the index calculation - sell side only.
• No. of Companies - number of companies that participated in the index related transactions.