Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack...

Tesla and the Shift in PowerPart 2 How Powerpack and Powerwall batteries will amplify the need for data management

New products and data sources

Delisting of products and data sources

Potential impacton data

Changes to data attributes replacement of products

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JUNE 2015

By Jay JamesonZE PowerGroup Incjayjamesonzecom

Summ

ary

June 2015

Contents

Editorial 5 Intermittent Success in the Battle between Coal and Renewables 5

Power 7 CAISO Releases New Mobile App with EIM Data 7Argus Introduces Hourly North American Power Forward Curves 7CME Trades First Lots of German Base Load 8Marex Spectron Arranges First STP Cleared EEX German Power Contract 9APX EPEX SPOT Deutsche Boumlrse and Others Inaugurate European Cross-Border Intraday Solution 9

Petroleum 10 Platts to Assess Rotterdam 01 Sulfur Bunker Fuel 10Platts Launches Rotterdam FOB Jet Barge Swaps 11Platts Introduces New Asian Supramax Dry Bulk Petcoke Assessments 12Platts Launches New EastWest Naphtha Assessments 12Argus to Add West African Crude Assessments 13Argus Adds New North Sea Crude Assessments 13Argus Adds US-Taiwan Isoprene Series 13Argus Introduces North American Base Oil Assessments 14Argus Launches New German and French Gasoil Heating Oil Codes 14Argus Adds Light and Heavy Basrah FOB Assessments 15CME Lists Two Existing Heating Oil Futures on CME Globex 16Platts Discontinues Rubber Index Newsletter 16Platts Discontinues Gasoil Minus Palm Oil Spread 17Platts Stops Publishing ICE Brent UK Assessments 17Argus Stops Two West African Oil Assessments 18Argus Stops Certain Russian Gasoil Assessments 18Argus Amends Descriptions for Mediterranean Fuel Oil Assessments 19

Natural Gas 20 Argus Launches Zeebrugge Natural Gas Assessments 20ICE GME and Snam to Introduce Italian Natural Gas Futures 20

Coal 21Platts to Assess Illinois Basin 11800 FOB Basin Coal 21Argus Adds US Coal Assessments 21CME Lists Existing Coking Coal Contract on CME Globex Trading 22

2

Summ

ary

Summ

ary

June 2015

Softs and Metals 23SOFTS 23 Platts to Introduce Supplementary Biofuels RIN Codes 23Argus Adds European Fertilizer Assessments 23Argus Introduces Algerian Urea Granular Bulk FOB Assessment 24TMX Group Launches AgriClear Platform for US and Canadian Cattle Buyers and Sellers 24Platts to Discontinue non-Renewable Energy Directive Biodiesel FOB ARA Assessments 25Platts Ends non-Renewable Energy Directive European SME Biodiesel Assessment 25Platts to Launch Minimum Greenhouse Gas Saving for Standard T2 Ethanol 26Argus Revises and Replaces Select European Fertilizer Codes 27METALS 27 Platts to Add New US Lead-Acid Battery Assessment 27Platts Launches European Iron Ore Netback Assessments 28Platts Publishes Direct Reduction Iron Ore Pellet Premium 28Argus Introduces Chinese Erbium Oxide Assessment 29CME Lists Five Existing Metals Futures on CME Globex 29COMOX Lists Physically-Delivered Zinc Futures on CME 30Platts to Discontinue Numerous US Minor Metals Prices 31Platts Discontinues LBMA Platinum and Palladium Prices 31ICE Launches Eris Standard Interest Rate Futures in Euro and Pound Sterling 32

Finance 33Thomson Reuters Launches New Valuations and Transparency Capability 33Thomson Reuters Expands Coverage of Canadarsquos Fixed Income Market 33Nasdaq Lists Global X YieldCo Index ETF 34Nasdaq Lists Elkhorn SampP 500 Capital Expenditures ETF 34ICAP Launches First Matching Session in Investment Grade Corporate Eurobonds 35Euronext Launches Country Indexes for Germany Italy and Spain 35Nasdaq Lists Two New ProShares Biotech ETFs 35CME Delists Two US Barclays Rate Futures Options and Contracts 36SSE CFFE and Deutsche Boumlrse to Launch an Offshore Chinese Market 36

Weather and Emissions 37Nasdaq Stockholm Launches Sustainable Bonds List 37CME Delists Certain US and European Monthly Weekly and Seasonal Strip Index Futures and Options 38

3

Summ

ary

Summ

ary

4June 2015

Summ

aryOther 39EIA Releases New Energy Visualization Widget 39Reuters Begins Offering Free News Content to Online Publishers 39Thomson Reuters Launches its Market Data Services in CMErsquos Aurora Data Center 39Thomson Reuters Expands Financial Markets Psychological Analysis Service 40Nasdaq Expands Presence in Canadian Market with New Data Centers in Ontario 40

News from Data Vendors 41ZEMA Adds Electricity Gas Wind Water Oil and Petrochemical Assessments in June 41ZE Adds Argus Spot Ticker Benchmark Data Service 41EEX and EPEX SPOT Approved as Pre-registered RRM 42Power Exchanges Sign Contract with Deutsche Boumlrse for Delivery of the European Cross-Border Intraday Solution 44New Exchange Council Approves Organized Secondary Market for Capacity Guarantees in France 46SEEPEX Targets Launch of Serbian Day-Ahead Market by End of November 2015 48Carbon Market Data Launches the India Greenhouse Gas Reporting Company Database 49

Monthly Market Analysis 50Crude Oil Brent vs WTI Prompt-Month Contract (NYMEX) 50Crude Oil Brent vs WTI Forward Curve (NYMEX) 51North American Natural Gas Spot Prices (NYMEX) 52Henry Hub Natural Gas Forward Curve (NYMEX) 53Actual Weather (AccuWeather) 54Electricity Day-Ahead Prices (ICE) 55Gold and Silver Daily Prices (CME) 56Wheat Futures Forward Curve (CME) 57

In Depth 58Tesla and the Shift in Power Part 2 ndash How Powerpack and Powerwall batteries will amplify the need for data management 58

Editorial

June 2015 5

On June 29 2015 industry newsmakers announced ldquoa blowrdquo to President Obamarsquos environmental plan On that day the US Supreme Court overturned the Environmental Protection Agencyrsquos (EPArsquos) Mercury and Air Toxics Standards (MATS) limiting mercury and other hazardous air pollutants released from power plants These standards apply mainly to generators fueled by coal and oil As explained by justices the decision was prompted by an excessively high cost of compliance estimated at $96 billion annually which would outweigh the expected benefits of $4-6 million No doubt this decision marked a noticeable victory of the opposition that has been standing its grounds in the battle against MATS for over four years now At the same time the multi-billion-dollar question of how long this victory will last is still hanging in the air as the renewable generation walls are closing in

These walls are not laws and regulations that can be fought with in courts and Congress they are true bottom-up forces that transpire in technological innovations like Powerpack and even in completely new market entities ndash microgrids Most utilities and system operators recognize that the current pace of renewable generation whether being part of the main grid distributed or aggregated into microgrids will only accelerate So they adapt by revising business practices introducing new services tools and products which will support the painless transformation of power systems into the new realm

EditorialBy Olga Gorstenko Editor-In-Chief Datawatcholgazecom

Intermittent Success in the Battle between

Coal and Renewables

Editorial

June 2015

Incidentally during the month of June several ISOs announced initiatives that promote the smooth integration of renewable generation ERCOT announced improvements to its wind forecasting methodology for expected availability of wind power capacity during peak demand periods The formula updates among other changes include the segregation of data and the introduction of several zones for wind forecast NYISOrsquos 2015 Power Trends report identified the areas of adjustments needed for successful integration of distributed energy resources into the grid the introduction of dynamic pricing the availability of the currently inaccessible ldquobehind-the-meterrdquo data for load forecasting and the development of new capacity and ancillary services and products to be offered by distributed resources through aggregators California ISO expanded its set of Energy Imbalance Market data offerings by now streaming fifteen-minute and real-time dispatch prices at thousands of points through ISO Today the mobile app

If you believe that in open competition market forces shape a market economy and define the industry and that market data changes in data sources and the introduction of new data reports serve as indicators of these forces your conclusion should be easy to arrive at It looks like coal is celebrating a rather intermittent victory over the intermittent renewable generation lt

6

EditorialEditor-In-Chief

Email olgazecomOlga Gorstenko

ZEMA Inquiries Bruce Colquhoun P 604-790-3299 E bruceczecom

Advertising amp Vendor RelationshipsBruce Colquhoun P 604-790-3299 E bruceczecom

Contact DataWatchE datawatchzecom Front Desk 1-866-944-1469 Editorial Department 778-296-4183 M ZE PowerGroup Inc 130-5920 No 2 Road Richmond BC V7C 4R9 To search our archives wwwdatawatchzecom

Get real-time data updates zedatawatch

Subscribe on your iPad today

Power

June 2015 7

Power

CAISO Releases New Mobile App with EIM DataOn June 12 2015 The California Independent System Operator Corp (CAISO) released an updated version of its mobile app ISO Today which includes enhanced price maps for the Energy Imbalance Market (EIM) Market Notices and social media posts

The new price map includes fifteen-minute and real-time dispatch prices at thousands of points on the grid that includes those in the new western regional Energy Imbalance Market

Originally launched in February 2013 the ISO Today app provides information on current solar and wind generation as well as weather conditions in and around California Hourly renewable energy production for the current and previous day also gives the user data on ISOrsquos progress towards integrating green energy See the original announcement

ZEMA regularly collects more than 190 electricity reports from CAISO To learn more about ZEMArsquos massive data library visit wwwzecomthe-zema-solutionsdata

Argus Introduces Hourly North American Power Forward CurvesOn June 16 2015 Argus announced that it has launched numerous hourly electricity forward curves Data will be available through the Argus FC API and also via ftpargusmediacom This data is available by location through five individual data sets each with a separate folder and csv file on the FTP site Data will be made available at 1830 pm CST for FTP subscribers

Location Folder Filename

ERCOT FWDEHourlyErcot yyyymmddfwdehourlyercotcsv

MISO FWDEHourlyMISO yyyymmddfwdehourlymisocsv

NEPool FWDEHourlyNEPool yyyymmddfwdehourlynepoolcsv

NYISO FWDEHourlyNYISO yyyymmddfwdehourlynyisocsv

PJM FWDEHourlyPJM yyyymmddfwdehourlypjmcsv

8

Power

June 2015

Historical data is available from June 2 2015 The added products include weekdays on peak weekends peak and nights off peak for the following zones

bull PJM West

bull PJM AD

bull PJM NI

bull PJM East

bull PJM PEPCO

bull ERCOT North

bull ERCOT South

bull ERCOT Houston

bull ERCOT West

bull NEPool Mass

bull NEPool CT

bull NEPool NEMA

bull NEPool SEMA

bull NYISO Zone A

bull NYISO Zone C

bull NYISO Zone F

bull NYISO Zone G

bull NYISO Zone J

bull MISO Indiana

bull MISO Michigan

bull MISO Illinois

bull MISO Louisiana

bull MISO Texas

See the original announcement

The graph below shows projected spark spreads for the New York Houston and Chicago regions based on natural gas and power forward curves from CME NYMEX Data ZEMA NYMEX Future Settlements report Analyses like this can easily be generated within ZEMArsquos Market Analyzer tool To learn more book a complimentary ZEMA demonstration

copy Graph created with ZEMA

CME Trades First Lots of German Base LoadOn June 16 2015 the Chicago Mercantile Exchange (CME) announced the first trade of its new European Power Contracts The contract traded for the first time on CME Europe

The trade comprising five contracts (totaling 60 lots) of German base load Calendar Year 2016 traded with the broker GFI Brokers Limited involving Mercuria Energy Trading SA and Freepoint Commodities LLP as the counterparts

CME has a suite of eight European Power cash-settled futures for the leading electricity markets with base load and peak load available for Germany France Italy and Spain They are available on CME ClearPort and CME Globex and are distributed via the Trayport platform alongside other exchange products

9

Power

June 2015

The new power contracts are subject to the rules of CME Europe and cleared via CME Clearing Europe CME Grouprsquos European clearing houseSee the original announcement

Using ZEMArsquos advanced data collection and analytic capabilities market participants can easily keep track of the new data that will be generated by the Chicago Mercantile Exchange To learn more visit wwwzecomthe-zema-solution

Marex Spectron Arranges First STP Cleared EEX German Power ContractEffective May 18 2015 Marex Spectron has executed the first trade of the European Energy Exchangersquos (EEX) ldquoPhelixrdquo German power option contract to be cleared via straight-through-processing (STP) The trade was arranged for two of Marex Spectronrsquos major energy clients

The trade was delivered to EEX via the European Federation of Energy Tradersrsquo eXRP clearing solution eXRP is a non-discriminatory open standard industry-owned and -governed infrastructure which establishes STP integrating all participating execution and clearing venuesSee the original announcement

APX EPEX SPOT Deutsche Boumlrse and Others Inaugurate European Cross-Border Intraday SolutionEffective June 9 2015 the European Power Exchanges (PXs) APX Belpex EPEX SPOT GME Nord Pool Spot and OMIE announced that they have signed with the support of 15 Transmission System Operators (TSOs) a contract with Deutsche Boumlrse AG for the development of the European Cross-Border Intraday Solution (XBID Solution) This marks a key milestone for the project

Following the completion of the design phase the development of the XBID solution will commence with immediate effect It is due to be completed by spring 2016 and will be followed by a period of testing Delivery of the solution into the market is expected in 2017

After the successful coupling of European day-ahead markets the single EU-wide intraday coupling is a key component for completing the European Internal Energy Market

This XBID solution will be based on a common IT system to be developed by Deutsche Boumlrse AG linking the local trading systems operated by the PXs as well as the available cross-border transmission capacities provided by the TSOs Orders entered by market participants in one bidding zone can be matched in continuous trading with orders similarly submitted by market participants in any other bidding zones covered by the XBID solution provided there is cross-border capacity availableSee the original announcement

Petroleum

June 2015 10

Petroleum

Platts to Assess Rotterdam 01 Sulfur Bunker FuelEffective September 1 2015 in line with the introduction of new sulfur emissions rules for vessels in the Emissions Control Area around Northwest Europe Platts intends to introduce a new assessment for an ECA-compliant 01 sulfur bunker fuel

Since January 1 2015 ships traveling within the Northwest European ECA have had to limit sulfur emissions from fuel to 01 down from the previous maximum of 1 according to International Maritime Organization rules The regulations do not stipulate use of a specific fuel as the focus is on emissions which leaves the door open for multiple means of compliance

Based on extensive consultation with market participants Platts believes there exists the potential for a new market to evolve based on an ECA-compliant bunker fuel standard as a key component in meeting the new regulatory requirement

The new standard could feature aspects of residual fuel oils which have traditionally been a component of bunker fuel and less sulfur-intense distillate fuels This new bunker fuel standard has been described by many market participants as a dirty gasoil

The proposed new assessments for this product would be made on a delivered basis in Rotterdam and published in dollars per metric ton

The proposed new assessment would reflect the following specifications

Specifications generally conform with that for RMG 380 CST but with a 01 maximum sulfur Platts proposes to reflect the value of 01 maximum sulfur with 380 CST max viscosity (at 50 degrees C) and 0991kgl density with a maximum combined aluminum and silicon content of 80 ppm 30 max Pour Point Flash min 60 degrees C CCR max 18 Ash max 015 Water max 05 Vanadium max 300 mgkg TSP 01 Zinc max 15 mgkg Phosphorus max 15 mgkg Calcium max 30 mgkg Free from used lubricating oils (ULO) (calcium gt 30 and zinc gt 15 or calcium gt 30 and phosphorus gt 15) H2S 2ppm max

11

Petroleum

June 2015

The assessment would reflect fuel loading on a delivered basis 1-8 days forward from the date of assessment The minimum stem size would be 200 mt and the maximum stem size would be 1000 mt

Platts will continue to publish its current assessments for marine gasoil which is also ECA-compliantSee the original announcement

ZEMA ZErsquos data management solution collects over 300 Platts records on petroleum and other liquids To learn more about ZEMArsquos vast data library visit wwwzecomthe-zema-solutionsdata-coverage

Platts Launches Rotterdam FOB Jet Barge SwapsEffective June 1 2015 Platts launched new assessments for FOB Rotterdam jet barge swaps at 430 pm London time The swaps will be assessed as differentials to ICE low sulfur gasoil futures three months forward

Platts will also publish the price in outright terms as a differential to ICE Brent crude futures (crack) as a spread to CIF NWE jet cargoes and as a spread to FOB ARA diesel barges

Platts will publish these assessments in US dollars per metric ton on PFC page 1652 codes are as follows

bull AAXVH00 Jet Rott FOB Brg Brent Crk Swap BalMo

bull AAXVM01 Jet Rott FOB Brg Brent Crk Swap Mo01

bull AAXUH00 Jet Rott FOB Brg Flat Prc Swap BalMo

bull AAXUM01 Jet Rott FOB Brg Flat Prc Swap Mo01

bull AAXWH00 Jet Rott FOB Brg vs Jet NWE CIF Crg Swap BalMo

bull AAXWM01 Jet Rott FOB Brg vs Jet NWE CIF Crg Swap Mo01

bull AAXTH00 Jet Rott FOB Brg vs LS GO Frontline Swap BalMo

bull AAXTM01 Jet Rott FOB Brg vs LS GO Frontline Swap Mo01

bull AAXXH00 Jet Rott FOB vs ULSD 10ppm ARA Brg Swap BalMo

bull AAXXM01 Jet Rott FOB vs ULSD 10ppm ARA Brg Swap Mo01

bull ABWCX00 Jet Kero NWE CIF Crg Brent Crk Swap BalMo

12

Petroleum

June 2015

Platts Introduces New Asian Supramax Dry Bulk Petcoke AssessmentsEffective June 1 2015 Platts launched two new dry bulk Supramax freight assessments reflecting established trade routes of petcoke from the US Gulf Coast

These new assessments reflect strong market interest in these routes and will be based on modern Supramax dry bulk tonnage Both assessments are published on a dollar per metric ton basis The following two routes were introduced

Size Cargo type Origin Destination

50kt petcoke Houston Krishnapatnam East Coast India

50kt petcoke Houston Qingdao North ChinaSee the original announcement

ZEMA collects Platts petroleum data from all over the world including more than 60 regular Platts reports from Europe To learn find out how ZEMA can use this data to generate sophisticated forward curves visit wwwzecomthe-zema-suitecurve-manager

Platts Launches New EastWest Naphtha AssessmentsAs of June 1 2015 Platts published assessments of the EastWest Naphtha Swap spreads at 1630 London time The EastWest naphtha swap spread will represent the difference between the comparable monthrsquos Mean of Platts Japan Naphtha and the Naphtha Northwest Europe CIF Cargo Swaps

Platts adds these assessments to its existing naphtha derivative suite to enhance its coverage of the naphtha market and better represent the key arbitrage route between Europe and Asia

The new price assessments cover three calendar months forward from the date of publication Platts will publish bids offers and interest to trade the EastWest Naphtha Spread in the Platts Market on Close assessment process

bull MANJM01 Naphtha CFR MOPJ vs Naphtha NWE CIF Crg Swap Spread London Mo01

bull MANJM03 Naphtha CFR MOPJ vs Naphtha NWE CIF Crg Swap Spread London Mo03See the original announcement

13

Petroleum

June 2015

Argus to Add West African Crude AssessmentsEffective July 6 2015 Argus is adding the following new codes to the Argus European Crude data module The following PA code details will appear in the DLC module in the DCRDEEU folder on ftpargusmediacom These daily codes have time stamps of 0 continuous forwards of 0 and are in USDbl

PA-code Price type Description Differential basis Category

PA0016212 1 2 3 Jubilee North Sea Dated gtCrudegtWest Africa

PA0016230 1 2 3 Usan North Sea Dated gtCrudegtWest AfricaSee the original announcement

ZEMA collects over 100 Argus reports regularly more than 40 of which pertain to petroleum products To find out how ZEMA can convert this data into sophisticated analyses visit wwwzecomthe-zema-solutionsanalytics

Argus Adds New North Sea Crude AssessmentsEffective June 29 2015 Argus added the below new codes to the Argus European crude data module and Argus Asia amp Midday European crude data module The following PA code details appear in the DLC module in the DCRDEEU folder on ftpargusmediacom and the DMC module in the DCRDEASIA folder on ftpargusmediacom These daily codes have time stamps of 6 price types of 8 continuous forwards of 0 and are in USDbl

PA-code Description Category

PA0016796 North Sea intermonth month1month2 gtCrudegtNorth Sea

PA0016798 North Sea intermonth month3month4 gtCrudegtNorth SeaSee the original announcement

Argus Adds US-Taiwan Isoprene SeriesEffective June 22 2015 Argus has started the following series in the Argus DeWitt C5 and Hydrocarbon Resins data feed For FTP subscribers these changes apply to the dhydrocarbons file in the DHydrocarbons folder of ftpargusmediacom

This monthly code has a time stamp of 0 a price type of 8 a continuous forward of 1 and is in USDt

PA0016887 Isoprene US import cif Taiwan month gtPetrochemicalsgtHydrocarbons

ZEMA collects more than 90 Argus reports from North America alone more than 40 of which pertain to petroleum products To find out how ZEMA can analyze this data and share this analysis with downstream systems visit wwwzecomthe-zema-solutions

14

Petroleum

June 2015

Argus Introduces North American Base Oil AssessmentsEffective June 6 2015 Argus added the following new codes to the Argus Base Oils data module The following PA code details will appear in the dbo and dbow files in the DBASEOILS folder onftpargusmediacom

The csv PA-code details are listed below These weekly codes have time stamps and continuous forwards of 0

PA-codePrice type

Description Unit Category

PA0015538 8Base oil Group 2+ 110130 Safety-Kleen US midcontinent and Canada $USG

USDUSG gtBase oilsgtUSgtGroup II+

PA0015539 8Base oil Group 2+ N240 Safety-Kleen US midcontinent and Canada $USG

PA0015540 8Base oil Group 2+ 110130 Safety-Kleen US midcontinent and Canada $t

USDt gtBase oilsgtUSgtGroup II+

PA0015541 8Base oil Group 2+ N240 Safety-Kleen US midcontinent and Canada $t

Argus Launches New German and French Gasoil Heating Oil CodesEffective May 29 2015 Argus added child codes for German gasoil heating oil NWE and French gasoil heating oil W MED Fridays snapshots which will be publishing in Argus Export Nefteproduktov The following codes have a time stamp of 6 a continuous forward of 0 and are in USDt

PA-code Price type Description Differential basis

Category

PA5001546 1 2 6 7 Gasoil heating oil German NWE cif Fri snapshot

Ice Gasoil Settlement

gtProductsgtGasoilDieselHeating oilgtNorthwest Europe

PA5001547 1 2 6 7Gasoil heating oil French W Med cif Fri snapshot

gtProductsgtGasoilDieselHeating oilgtMediterranean

With ZEMA you can access daily data reports on heating oil from Platts ICE and the EIA To find out how ZEMA can use this data to increase your companyrsquos market intelligence book a free demo at wwwzecombook-a-demo

15

Petroleum

June 2015

Argus Adds Light and Heavy Basrah FOB AssessmentsEffective May 22 2015 Argus added the below new codes to the DAGM data module in the DAGM folder of the ftpargusmediacom server These weekly assessments have time stamps of 8 and are in USDbl

PA-code Price type Continuous forward

Description Differential basis

Category

PA5001538 1 2 3 1 Basrah Light fob Iraq month snapshot

Formula gtCrudegtMideast Gulf

PA5001541 1 2 3 0 Basrah Light fob Iraq month weekly avg

PA5001542 1 2 3 1 Basrah Heavy fob Iraq month snapshot

PA5001545 1 2 3 0 Basrah Heavy fob Iraq month weekly avg

Furthermore on May 29 2015 Argus added the following Basrah light and heavy FOB assessments These weekly assessments are also in USDbl have continuous forwards of 0 time stamps of 8

Category

PA5001539 1 2 3 Basrah Light fob Iraq month monthly avg

PA5001543 1 2 3 Basrah Heavy fob Iraq month monthly avg

As well on June 30 2015 Argus added the below codes to the DAGM data module in the DAGM folder of the ftpargusmediacom server These weekly codes have time stamps of 8 continuous forwards of 0 and are in USDbl

Category

PA5001540 1 2 3 Basrah Light fob Iraq month quarterly avg

PA5001544 1 2 3Basrah Heavy fob Iraq month quarterly avg

16

Petroleum

June 2015

CME Lists Two Existing Heating Oil Futures on CME GlobexEffective June 14 2015 New York Mercantile Exchange Inc (NYMEX) listed two existing futures contracts on the CME Globex trading platform as described in the table below

Contract Titles Rule ChapterClearing Code

CME Globex Code

CME Globex Listing Schedule

Gulf Coast Heating Oil (Argus) vs New York Harbor ULSD Futures

244 7U 7U 36 consecutive months

Gulf Coast Heating Oil (Argus) Futures

These contracts will continue to be available for trading on the NYMEX trading floor and for clearing through CME ClearPort with an unchanged listing schedule The CME Globex trading hours for these contracts will be Sunday ndash Friday 600 pm ndash 515 pm with a 45-minute break each day beginning at 515 pmSee the original announcement

ZEMA collects more than 100 regular reports from CME including more than 20 on petroleum and other liquids To learn more about ZEMArsquos extensive data coverage visit wwwzecomthe-zema-solutionsdata

Platts Discontinues Rubber Index NewsletterEffective June 15 2015 Platts has discontinued the Platts Rubber Index (RBX) newsletter Natural rubber assessments will still be available on Platts Petrochemical Alert page 680 (PCA680) the Olefinscan and under the following codes in the Platts price database until further notice

Platts Rubber Index Daily NOON Assessments

bull Rubber TSR 20 FOB Singapore Mo01 USD KG AAWDN00

bull Rubber TSR 20 FOB Singapore Mo01 USD MT AAWDM00

bull Rubber RSS 3 FOB Singapore Mo01 USD KG AAWDR00

bull Rubber RSS 3 FOB Singapore Mo01 USD MT AAWDQ00

bull Rubber RSS 3 FOB Singapore Mo02 USD KG AAWDT00

bull Rubber RSS 3 FOB Singapore Mo02 USD MT AAWDS00

bull Platts Rubber Index Daily NOON Assessments Mavg Wavg

bull Rubber TSR 20 FOB Singapore Mo01 USD KG AAWDF00 AAWDF03 AAWDF04

bull Rubber TSR 20 FOB Singapore Mo01 USD MT AAWDE00 AAWDE03 AAWDE04

bull Rubber TSR 20 FOB Singapore Mo02 USD KG AAWDH00 AAWDH03 AAWDH04

17

Petroleum

June 2015

bull Rubber TSR 20 FOB Singapore Mo02 USD MT AAWDG00 AAWDG03 AAWDG04

bull Rubber RSS 3 FOB Singapore Mo01 USD KG AAWDJ00 AAWDJ03 AAWDJ04

bull Rubber RSS 3 FOB Singapore Mo01 USD MT AAWDI00 AAWDI03 AAWDI04

bull Rubber RSS 3 FOB Singapore Mo02 USD KG AAWDL00 AAWDL03 AAWDL04

bull Rubber RSS 3 FOB Singapore Mo02 USD MT AAWDK00 AAWDK03 AAWDK04

Platts Discontinues Gasoil Minus Palm Oil SpreadEffective June 11 2015 Platts discontinued its GO-PO spread which reflected the value of first-month InterContinental Exchange (ICE) gasoil futures as listed by ICE against first-month crude palm oil futures as listed on Bursa Malaysia at 430 pm Singapore time (830 GMT)

GO-PO measured the spread as gasoil minus Palm oil while in the general market the spread is typically expressed as Palm oil minus gasoil The GO-PO spread under the assessment symbol code BMAAB00 was published in Platts BiofuelscanSee the original announcement

Platts Stops Publishing ICE Brent UK AssessmentsEffective May 14 2015 Platts stopped publishing ICE Brent NX assessments because ICE delisted the contract

ICE Brent NX assessments were published on Platts Global Alert pages 702 and 703 in the Oilgram Price Report and in the Crude Oil Marketwire

The prices were also published in Platts Market Data under the following codes AAXZL00 AAXZM00 AAXZN00 and AAYAP00See the original announcement

The graph below illustrates the price difference of Brent crude on CME NYMEX during the week of June 15 2015 Data ZEMA CME NYMEX Futures Settlement report Leverage ZEMArsquos sophisticated analytical functionalities to make more informed trading decisions about petroleum prices To learn more book a complimentary ZEMA demonstration

18

Petroleum

June 2015

Argus Stops Two West African Oil AssessmentsAs of July 3 2015 Argus stopped the following price series in the Argus West Africa Oil publication and data module The following PA codes no longer appear in the DWAFO module in the DWAFO folder on the ftpargusmediacom server These daily assessments had time stamps of 0 continuous forwards of 0 and were in USDbl

PA0016212 3 8 Jubilee North Sea Dated gtCrudegtWest Africa

PA0016230 3 8 Usan North Sea Dated gtCrudegtWest Africa

Argus Stops Certain Russian Gasoil AssessmentsEffective June 1 2015 Argus stopped the below codes for Russian Gasoil in Argus Export Nefteproduktov These assessments had a time stamp of 6 a continuous forward of 0 and were in USDt

PA5001265 1 2 6 7 Gasoil Russian cargo NWE cif Fri Snapshot

gtProductsgtGasoilDieselHeating oilgtRussia

PA5001266 1 2 6 7 Gasoil Russian cargo W Med cif Fri Snapshot

19

Petroleum

June 2015

Argus Amends Descriptions for Mediterranean Fuel Oil AssessmentsOn July 1 2015 Argus changed the descriptions for the following codes belonging to DFSUE and DLP The current and previous descriptions are noted below These assessments have time stamps of 6 continuous forwards of 0 and are in USDt

PA-code Price type Old Description New Description Category Frequency

PA5000855 1 2 8Fuel oil 35 0998 W Med cif wed snapshot

Fuel oil 35 W Med cif wed snapshot

gtProductsgtFuel oilgtMediterranean

Weekly

PA0000761 1 2 8Fuel oil 35 0998 W Med cif

Fuel oil 35 W Med cif

Daily

PA0000762 1 2 8Fuel oil 35 0998 W Med fob

Fuel oil 35 W Med fob

Daily

PA0008660 1 2 8Fuel oil 35 0998 W Med cif average month

Fuel oil 35 W Med cif average month

Monthly

PA0008661 1 2 8Fuel oil 35 0998 W Med fob average month

Fuel oil 35 W Med fob average month

Monthly

Natural Gas

June 2015

Natural Gas

20

Argus Launches Zeebrugge Natural Gas AssessmentsAs of July 1 2015 Argus introduced the following codes to Argus European Natural Gas The following PA code details will appear in the DNG module in the DENG folder on ftpargusmediacom These assessments have a time stamp of 6 and a daily frequency

PA-codePrice type

Continuous forward

DescriptionDifferential basis

Unit Category

PA0016847 1 2 8 1 2Natural gas Zeebrugge pth Gas year

- pthgtNatural gasgt EuropegtZeebrugge

PA0016848 1 2 8 1 2Natural gas Zeebrugge EurMWh Gas year

-EuroMWh

gtNatural gasgt EuropegtZeebrugge

ZEMA collects over 700 data reports regarding natural gas To learn more about ZEMArsquos vast data library visit wwwzecomthe-zema-solutionsdata-coverage

ICE GME and Snam to Introduce Italian Natural Gas FuturesOn September 14 2015 Intercontinental Exchange (ICE) Endex expects to introduce physically delivered Italian natural gas futures contracts (Punto di Scambio Virtuale ndash Virtual Trading Point PSV) in cooperation with Gestore dei Mercati Energetici SpA (GME) and Snam SpA and in compliance with Italian law

In collaboration with GME the Italian exchange for electricity and natural gas spot trading Snam the Italian transmission systems operator and the Italian authorities ICE is the first exchange to create a solution for the physical delivery of natural gas futures contracts in Italy

The launch of PSV futures extends ICErsquos European natural gas offering which includes futures markets across the NBP TTF ZTP NCG and GASPOOL natural gas trading hubs Market participants trading the new PSV contracts on the ICE trading platform will be able to trade implied and locational spreads between ICErsquos natural gas hubs such as TTF and PSV In addition PSV futures contracts will trade alongside the recently launched Italian Power Base Load and Italian Power Peak Load futures contracts at ICE Endex Market participants can therefore benefit from margin offsets and capital efficiencies at ICE Clear EuropeSee the original announcement

Coal

June 2015 21

Coal

Platts to Assess Illinois Basin 11800 FOB Basin CoalOn June 10 2015 Platts announced its intention to assess a weekly price for Illinois Basin 11800 Btulb 5 lbs SO2MMBtu FOB barge coal The weekly assessment will reflect the price of such coal in the US physical market for three forward quarters and one forward calendar year

The specifications for the coal are an average heat content of 11800 Btulb with typical sulfur content of 5 lbs SO2MMBtu FOB barge The price will be reported in $st

Plattsrsquo weekly coal assessments for the US physical market are published in the Weekly Price Survey Traditional Physical Market table on the final business day of the weekSee the original announcement

ZEMA collects more than 20 different coal records from Platts alone For a complimentary demo on how ZEMArsquos data coverage can be specialized for your companyrsquos needs visit wwwzecombook-a-demo

Argus Adds US Coal AssessmentsAs of June 16 2015 Argus has added the following codes to the Argus Coal Transportation data module The following PA code details will appear in the dctr in the DCTR folder onftpargusmediacom

The following weekly codes have time stamps of 21 continuous forwards of 1 and are in USDst

PA-code Price type Description Category

PA0002471 1 2 8IL Basin 60+ 11000 IL Indiana Mine quarter

gtCoalgtAmericasgtIllinois Basin

PA0002473 1 2 8IL Basin 50 11500 IL Indiana Mine quarter

22

Coal

June 2015

PA0002480 1 2 8 Pittsburgh Seam 45 13000 quarter gtCoalgtAmericasgtPittsburgh Seam

PA0002483 1 2 8ColoradoUtah 11300 Western Bituminous quarter

gtCoalgtAmericasgtColoradoUtah

PA0002484 1 2 8ColoradoUtah 11700 Uinta Basin Utah quarter

PA0002627 1 2 8 Central Appalachia Nymex Spec quartergtCoalgtAmericasgtCentral Appalachia

PA0002630 1 2 8Central Appalachia 16 12500 CSX quarter

gtCoalgtAmericasgtCentral Appalachia

PA0002632 1 2 8 Powder River Basin 08 8400 quartergtCoalgtAmericasgtPowder River Basin

PA0012569 8Central Appalachia lt1 12000 CSX quarter

CME Lists Existing Coking Coal Contract on CME Globex TradingEffective June 14 2015 New York Mercantile Exchange Inc (NYMEX) listed an existing futures contract on the CME Globex trading platform as described in the table below

CME Globex Code CME Globex Listing Schedule

Australian Coking Coal (Platts) Low Vol Futures

1111 ALW ALWCurrent year plus the next three calendar years

This contract will continue to be available for trading on the NYMEX trading floor and for clearing through CME ClearPort with an unchanged listing schedule The CME Globex trading hours for this contract will be Sunday ndash Friday 600 pm ndash 515 pm with a 45-minute break each day beginning at 515 pmSee the original announcement

ZEMA regularly collects nearly 150 data reports on coal To learn how ZEMA uses this data to create impressive analyses and forward curves visit wwwzecomthe-zema-solutions

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

Platts to Introduce Supplementary Biofuels RIN CodesAs of July 27 2015 Platts intends to introduce identifying codes to biofuels RINs (Renewable Identification Number) assessments which would be unique to each calendar year and would supplement the existing RINs codes In the current system for identifying RINs assessments Platts uses rolling codes aligned with compliance years under the Renewable Fuel Standard For example the current codes for corn-based ethanol (D6) RINs are RINCY01 for 2014 ethanol RINs and RINCY02 for 2015 ethanol RINs

Under the proposed method Platts would introduce supplementary identifying codes such as 2015D6 for 2015 ethanol RINs to offer an alternative solution for tracking the assessments historicallySee the original announcement

Argus Adds European Fertilizer AssessmentsEffective July 3 2015 Argus added the following new series to the Argus FMB Fertilizer Europe publication and data module The following PA code details will appear in the DEuroFert module in the DEuroFert folder on ftpargusmediacom These weekly codes have time stamps of 0 continuous forwards of zero 0 and are in Eurot

PA0016833 1 2 Muriate Of Potash granular fca bulk Belgium gtFertilizergtPotash

PA0016834 1 2 15-15-15 cpt bulk France gtFertilizergtNitrogen

PA0016835 1 2 CAN 27 bulk cpt France gtFertilizergtNitrogen

24

Softs and Metals

June 2015

PA0016836 1 2 Potash Granular MOP bulk fca France gtFertilizergtPotash

ZEMA can help you keep you up to date on more than 700 regular Argus reports including several on softs To find out how book a free demo at wwwzecombook-a-demo

Argus Introduces Algerian Urea Granular Bulk FOB AssessmentEffective May 21 2015 Argus Media introduced the following new weekly assessment to the Argus FMB Weekly Nitrogen report and datafeed The assessment is in USDt and has a timestamp and continuous forward of 0

PA0016786 1 2 Urea granular bulk fob Algeria gtFertilizergtUrea

TMX Group Launches AgriClear Platform for US and Canadian Cattle Buyers and SellersOn June 16 2015 TMX Group announced the launch of AgriClear an online platform designed to provide US and Canadian cattle buyers and sellers with an efficient cost-effective transaction and payment service

AgriClear offers cattle producers a new way to do business with benefits for both buyers and sellers including assured payment for cattle delivered at the terms negotiated AgriClear allows marketers to securely list and execute cattle transactions from their computer

AgriClear has offices in Calgary Houston Bowling Green (Kentucky) and Greeley (Colorado) and is designed to provide a lower cost structure an expanded market with a broader network of verified members and financial certainty for transactions with NGX acting as administrator of AgriClearrsquos back-office payment and settlement servicesSee the original announcement

ZEMA regularly collects more than 100 data reports on softs To learn more about ZEMArsquos extensive data coverage visit wwwzecomthe-zema-solutionsdata-coverage

25

Softs and Metals

June 2015

Platts to Discontinue non-Renewable Energy Directive Biodiesel FOB ARA AssessmentsEffective January 1 2016 Platts proposes to discontinue all biodiesel FOB ARA assessments for product not certified as compliant with the EUrsquos Renewable Energy Directive

The following assessments would be discontinued

bull Biodiesel FAME -10 FOB Rdam Barge $mt AAWGY00

bull Biodiesel FAME 0 FOB Rdam Barge $mt AAXQL00

bull Biodiesel RME FOB ARA Barge $mt AAUCA00

bull Biodiesel Europe Premium (non-RED) FAME 0 FOB ARA $Mt AAXNV00

bull Biodiesel Europe Premium (non-RED) RME FOB NWE $Mt AAXNW00

bull Biodiesel FAME -10 Brg ARA $MT WAvg AAWGY04

bull Biodiesel FAME 0 FOB Rdam Barge $mt WAvg AAXQL04

bull Biodiesel RME FOB ARA Barge $mt WAvg AAUCA04

bull Biodiesel FAME -10 FOB Rdam Barge $mt MAvg AAWGY03

bull Biodiesel FAME 0 FOB Rdam Barge $mt MAvg AAXQL03

bull Biodiesel RME FOB ARA Barge $mt MAvg AAUCA03

Platts Ends non-Renewable Energy Directive European SME Biodiesel AssessmentEffective May 30 2015 Platts has discontinued its assessment for Northwest European SME biodiesel holding no proof of sustainability under the EUrsquos Renewable Energy Directive

This assessment corresponds with oracle code AAUCB00 and is published in the Platts database and on Biofuelscan The weekly (AAUCB03) and monthly (AAUCB04) averages will also be discontinuedSee the original announcement

26

Softs and Metals

June 2015

Platts to Launch Minimum Greenhouse Gas Saving for Standard T2 EthanolEffective October 19 2015 Plattsrsquo standard T2 ethanol FOB Rotterdam assessments will include a minimum greenhouse gas saving when compared to the fossil fuel comparator as per the European Unionrsquos Fuel Quality Directive calculation

Platts invites feedback regarding the actual level which should be set for the minimum greenhouse gas saving spec for the standard T2 ethanol assessment Platts continues to monitor the activity and development of the European ethanol market in light of the change to the German domestic biofuel mandate and will adapt its methodology as necessary to reflect standard spot market trade flows

The fossil fuel comparator and greenhouse gas saving calculation reflected will be per the prevailing implementation of the Fuel Quality Directive in Germany All other specifications will conform to the prevailing Renewable Energy Directive 200928ECSee the original announcement

ZEMArsquos vast data coverage comprises records on many kinds of agricultural products including ethanol To learn more visit wwwzecomthe-zema-solutionsdata-coverage

The graph below shows the EIArsquos carbon emissions forecasts for coal natural gas and petroleum in contrast to expected totals up until the end of 2016 Data ZEMA EIA Forecast STEO ndash Macroeconomic Energy Indicators report Keep track of global emissions updates using ZEMArsquos data collection and validation tools To learn more book a complimentary ZEMA demonstration

27

Softs and Metals

June 2015

Argus Revises and Replaces Select European Fertilizer CodesAs of July 3 2015 Argus has changed the descriptions for the following codes

PA-code Old description New description

PA0012893Ammonium Nitrate 335 delivered bulk France

Ammonium Nitrate 335 cpt bulk France

PA0012897 0-25-25 delivered bulk France 0-25-25 cpt bulk France

PA0012899 N+S 24N + 15SO3 delivery bulk France N+S 24N + 15SO3 cpt bulk France

Furthermore Argus replaced the following codes

PA-code DescriptionStart date

End dateReplacement Code

Replacement Description

Replacement Start Date

PA0012889Muriate Of Potash granular cif bulk

15-Jan-2010

03-Jul-2015

PA0016833Muriate Of Potash granular fca bulk Belgium

03-Jul-2015

PA001289817-17-17 delivered bulk France

25-Oct-2013

03-Jul-2015

PA001683415-15-15 cpt bulk France

03-Jul-2015

Metals

Platts to Add New US Lead-Acid Battery AssessmentAs of August 4 2015 Platts intends to launch a new weekly price assessment for scrap used lead-acid batteries reflecting market activity in the US Northeast and to clarify the specification and name of its existing Midwest lead-acid battery assessment

The new assessment would be for used 50 lead-acid starter lighter ignition automotive batteries picked up US Northeast with the northeastern region for price normalization to include New York New Jersey Pennsylvania Delaware Maryland Connecticut Massachusetts Vermont New Hampshire Rhode Island Maine and Ontario Canada

The specification would be for a minimum quantity of one truckload (42000-44000 lb) normalized to a typical order size one to five truckloads packaged in shrink-wrapped pallets or skids pallet size 40rdquo or 44rdquo by 48rdquo maximum 3600 lbskid no more than three battery layers separated by cardboard sheets assessed in a centslb range reflecting the majority of business normalized to a picked-up US Northeast basis delivery within 30 days net-30-day payment terms

28

Softs and Metals

June 2015

Platts is also clarifying that the name of its existing lead-acid battery price assessment (MMLAA04) is used lead-acid batteries picked-up US Midwest and that the assessment is normalized to a Midwest region including Ohio Michigan Wisconsin Minnesota Indiana Illinois Kansas Nebraska Missouri Iowa and Arkansas Other specifications remain unchanged in line with the specifications for the new assessment

Both assessments would be assessed once a week on Tuesdays or the closest business day through a survey of secondary lead smelter buyers scrap dealersprocessors traders and brokers See the original announcement

ZEMA collects more than 90 metals records from Platts alone To gain a wider perspective on the metals market and find out how the ZEMA solution can enhance your companyrsquos business processes visit wwwzecomthe-zema-solutions

Platts Launches European Iron Ore Netback AssessmentsAs of July 1 2015 Platts began publishing an IODEX 62 Fe iron ore netback assessment CFR Europe Platts will publish on a daily basis the value of iron ore reflected in Platts benchmark IODEX assessment CFR China implied on a CFR Rotterdam basis

The value will be determined by applying a simple netback calculation adding Capesize Tubarao to Rotterdam sea freight to Plattsrsquo existing IODEX netback Brazil Capesize (IONBB00)

The assessment will be published on a dollardry metric ton basis and a monthly average would also be available IODEX netback Rotterdam will follow the publishing schedule for IODEX in Singapore provided it is not a public holiday in the UK on the same dateSee the original announcement

Platts Publishes Direct Reduction Iron Ore Pellet PremiumEffective July 1 2015 Platts began publishing a monthly assessment for Direct Reduction Iron Ore Pellet Premiums (DR Pellet Premiums)

The DR pellet premium assessment complements the existing Atlantic Basin Blast Furnace Iron Ore Pellets Estimated Monthly Contract Price and reflects premiums paid under contract volumes for DR pellet globally

The assessment reflects the premium paid for a high quality 675 Fe DR grade pellet net of any further quality adjustments over a 65 Fe basis The premium will be published on a dollardry metric ton basis The DR pellet specification will reference 675 Fe 15 Silica 300 CCS and sizing over 9 mm gt94

The assessment will be published in Platts SBB Steel Markets Daily on Platts Metals Alert and in the Platts SBB Steel Price AnalyzerSee the original announcement

ZEMA collects more than 200 metals records several of which regard iron products To receive a complimentary ZEMA demonstration visit wwwzecombook-a-demo

29

Softs and Metals

June 2015

Argus Introduces Chinese Erbium Oxide AssessmentOn July 2 2015 Argus introduced the following new assessment to Argus Rare Earths report and associated data feed The data series is available in DRareEarths data module in DRareEarths folder on ftpargusmediacom This daily assessment has a time stamp of 0 a continuous forward of 0 and is in CNYt

PA0016805 1 2 Erbium oxide min 995 ex-works China

gtMetals - Non-ferrousgtRare EarthsgtAsia-Pacific

CME Lists Five Existing Metals Futures on CME GlobexEffective June 14 2015 New York Mercantile Exchange Inc (NYMEX) listed five existing futures contracts on the CME Globex trading platform as described in the table below

Contract TitlesRule Chapter

Clearing Code

CME Globex Code

HMS 8020 Ferrous Scrap CFR Turkey (Platts) Futures

867 FSF FSF 24 consecutive months

European Hot Rolled Coil Ex-Works Ruhr Germany (Platts) Futures

871 NSF NSF 24 consecutive months

Iron Ore 62 Fe CFR North China (Platts) Futures

925 PIO PIOCurrent year and the next two calendar years

Chinese Steel Rebar HRB400 (Mysteel) Futures

1286 RBR RBR 12 consecutive months

Steel Billet FOB Black Sea (Platts) Futures 869 SSF SSF 24 consecutive months

ZEMA collects more than 200 reports on various metals from around the world This data can then be used to create advanced analyses and forward curves before being pushed to downstream systems To learn what ZEMA can do for your business book a free demo at wwwzecombook-a-demo

30

Softs and Metals

June 2015

The ZEMA graph below shows forecasted copper spot prices for the next four years based on data from the London Metal Exchange Data ZEMA LME Official Prices Report The prices are represented by the graph which can be easily applied as one of ZEMArsquos many visualization options and graphs can be viewed instantly as the analytics are built To learn more about how ZEMA can help with your data and analysis needs book a complimentary ZEMA demonstration

COMOX Lists Physically-Delivered Zinc Futures on CMEEffective June 28 2015 Commodity Exchange Inc (COMEX) listed a new physically-delivered zinc futures contract (commodity code ZNC rulebook chapter 186)

This contract is available for trading on CME Globex and for submission for clearing through CME ClearPort

The contract specifications are provided below

Contract Name Zinc Futures

Commodity Code ZNC

Rulebook Chapter 186

Contract Size 25 metric tons

Listing Schedule CME Globex and CME ClearPort 12 consecutive months

Termination of Trading Third last business day of the contract month

Minimum Price Fluctuation $050

Delivery Day All business days during the delivery month

Value per Tick $1250

First Listed and Delivery Month October 2015

31

Softs and Metals

June 2015

Block Trade Minimum Threshold 10 contracts

CME Globex Match Algorithm First In First Out (FIFO)

Platts to Discontinue Numerous US Minor Metals PricesAs of January 7 2016 Platts intends to discontinue publishing proprietary and third-party minor metals prices and assessments with the exception of cobalt As such the last date of publication would be Thursday December 31 2015

The prices to be discontinued are bull New York Dealer Antimony AALXR00bull New York Dealer Bismuth MMADA00bull New York Dealer Cadmium 9995

MMADA00bull New York Dealer Cadmium 9995 Free

Market AALXQ00bull Indium New York Dealer MMAKI00

bull New York Dealer Selenium MMAKI00bull Indium Corp North American Producer

Price AALXS00bull Mercury Free Market MMADJ00 Mercury

US Domestic MMAKK00bull Rhenium AAGTD00 New York Dealer

Selenium AAGTD00

These prices would no longer be published on Platts Metals Alert or in Platts Metals Daily Platts Market Center and Market Data

Platts will continue to assess and publish its full suite of cobalt prices The minor metals markets are extremely illiquid and mercury cadmium and selenium are becoming largely obsolete and being replaced by other materials in industrial usage on technical and environmental meritsSee the original announcement

Platts Discontinues LBMA Platinum and Palladium PricesEffective July 1 2015 Platts has stopped publishing the morning and afternoon London Bullion Market Association platinum and palladium prices As such the last date of publication was Tuesday June 30 2015

These prices are longer published on Platts Metals Alert Platts Metals Daily the LME Close edition of Platts Metals Daily Platts Market Center and Market Data

These prices were administered by the London Metal Exchange since December 1 2014See the original announcement

Finance

June 2015 32

Finance

ICE Launches Eris Standard Interest Rate Futures in Euro and Pound SterlingOn June 29 2015 the Intercontinental Exchange (ICE) launched Eris standard interest rate futures contracts denominated in Euro (EUR) and Pound Sterling (GBP) The new contracts Eris Standard EUR Interest Rate futures and Eris Standard GBP Interest Rate futures will trade and clear at ICE Futures Europe and ICE Clear Europe They are based on the product design of Eris Exchange US dollar-denominated Eris Standard Swap future and Eris Flex Swap future contracts

Eris interest rate futures contracts replicate all of the cash flows and economics of comparable swaps traded in the over-the-counter market including Price Alignment Interest (PAI) which are incorporated into a single futures-style variation margin cash flow Additional contract features include capital margin and operational efficiencies of exchange-traded cash-settled futures contracts without physical delivery risk at maturity

ICE plans to launch Eris iTraxx Main and Eris iTraxx Crossover during the second half of 2015 In December 2014 ICE entered into a multi-year license agreement with Eris to list futures and options contracts based on the Eris Methodology patent-pending product design on the ICE platformSee the original announcement

ZEMA collects more than 100 ICE records To learn more about how ZEMA can collect aggregate and analyze data visit wwwzecomthe-zema-solutions

33

Finance

June 2015

Thomson Reuters Launches New Valuations and Transparency CapabilityOn June 23 2015 Thomson Reuters announced the launch of Thomson Reuters Pricing Service Plus (TRPS Plus) a new DataScope capability for structured notes and hard-to-value over-the-counter (OTC) derivatives TRPS Plus offers transparency into the evaluated price methodologies and market data associated with the price TRPS Plus also provides risk analysis such as Value-at-Risk (VaR) Credit Valuation Adjustment (CVA) and Greeks

TRPS Plus is accessible via Thomson Reuters DataScope Select the global data delivery platform for non-streaming content TRPS Plus is an addition to Thomson Reuters Pricing Service (TRPS) Prices are delivered throughout the day or at market closing times around the world depending on the asset class with supporting commentary to provide insight on the dayrsquos events

With TRPS Plus in place DataScope Select now covers more than 650 structured notes and derivatives Combined with the legacy-Pricing Partners financial library TRPS Plus effectively allows DataScope Select to deliver transparent pricing on all standard or non-standard derivatives Valuation and risk reports are delivered intra-day or end-of-day according to customersrsquo requirementsSee the original announcement

Thomson Reuters Expands Coverage of Canadarsquos Fixed Income MarketAs of June 4 2015 Thomson Reuters began offering increased depth of coverage in Canadarsquos fixed income markets from the electronic bond trading marketplace CBID operated by Perimeter Markets Inc

Real-time price and yield data from CBID is now available on Thomson Reuters Eikon the companyrsquos flagship financial markets desktop providing investors around the world with access to detailed information sourced from Canadarsquos only live bond marketplace Customers can also access the market data via Elektron Real Time a low-latency consolidated real-time feed that provides normalized full-tick depth-of-market data from exchanges around the world in a format that can be integrated into proprietary and third party applications

Investors will have access to more than 3500 lines of live inventory and depth-of-market data on Government of Canada and federal agency bonds provincial bonds municipal bonds corporate bonds strip bonds and money markets Data is based on live executable offerings (not indications of interest) from several of Canadarsquos leading fixed income broker dealers and includes historical reference data going back to 2002See the original announcement

ZEMA ZErsquos best-in-class data management solution collects more than 75 records from Thomson Reuters on a daily basis ZEMA can collect display and analyze data for market participants in any sector For further information visit wwwzecomthe-zema-solutions

34

Finance

June 2015

The graph below shows the historical trend of 10-year yields from selected Government of Canada benchmark bonds Data ZEMA Bank of Canada Bond Yields Monthly report To learn more about ZEMArsquos robust analytical capabilities book a complimentary ZEMA demo

Nasdaq Lists Global X YieldCo Index ETFOn May 28 2015 Nasdaq announced that Global X Funds listed a new exchange-traded fund (ETF) the Global X YieldCo Index ETF (YLCO)

YLCO seeks to provide investors with access to YieldCos an emerging asset class of yield vehicles that are structured to deliver stable and growing dividend income derived from a portfolio of renewable energy assets YieldCos looks for opportunities to add new operating assets to their portfolios which can help grow cash flows and distributions to shareholders over timeSee the original announcement

ZEMA lets users stay up to date on a wide range of financial developments ZEMA enables users to easily visualize data news and analytics in one screen ensuring that users gain a global market snapshot To learn more visit wwwzecomthe-zema-suitedashboard

Nasdaq Lists Elkhorn SampP 500 Capital Expenditures ETFEffective May 27 2015 Nasdaq announced that Elkhorn Investments listed a new ETF The Elkhorn SampP 500 Capital Expenditures ETF (CAPX)

CAPX tracks the performance of the SampP 500 Capex Efficiency Index which is designed to provide exposure to the 100 constituents of the SampP 500 that have exhibited the strongest capital discipline in the form of efficient capital expenditures over the near term The index focuses on capex efficiency not just capex spending levels providing exposure to stocks that have maximized sales per unit of capital expendituresSee the original announcement

35

Finance

June 2015

ICAP Launches First Matching Session in Investment Grade Corporate EurobondsAs of June 11 2015 ICAP Global Broking has launched its first matching session in investment grade (IG) corporate Eurobonds complementing ICAPrsquos existing execution model in this market

Accessed via ICAP Global Brokingrsquos e-Commerce portal the matching session takes place in the hybrid environment supported by ICAP voice brokersSee the original announcement

Euronext Launches Country Indexes for Germany Italy and SpainEffective June 1 2015 Euronext announced the launch of three country indexes the Euronext Germany Index GR the Euronext Italy Index and the Euronext Spain Index The indexes will serve as the underlying for new index futures and index options which will be available for trading in the third quarter of 2015

The country indexes are composed of the 30 companies with the highest free float market capitalization listed on the main markets of the respective country with a free float higher than 15 and a 12-month velocity score of 20 or more The review of the composition and a capping of 20 for individual companies will take place annually in October with quarterly updates for the number of shares

In order to be able to offer investors greater transparency into the price performance of an index as well as the distributed dividends of the constituents three different variants of the country indexes will be published a price return a net return and a gross return index Price return indexes do not take dividend payments into account while gross return indexes include the fully paid dividends Net return indexes include the paid dividends minus the applicable tax amount Derivatives will be available on the price return variant of the Euronext Spain Index and the Euronext Italy Index and on the gross return variant of the Euronext Germany IndexSee the original announcement

ZEMA collects more than 25 NYSE Euronext data reports This data can be viewed in conjunction with data from many other financial commodity or industry sources To learn more about ZEMArsquos analytical capabilities visit wwwzecomthe-zema-solutionsanalytics

Nasdaq Lists Two New ProShares Biotech ETFsOn June 23 2015 Nasdaq announced that ProShares listed two new exchange-traded funds (ETFs) UltraPro Nasdaq Biotechnology ETF (UBIO) and UltraPro Short Nasdaq Biotechnology ETF (ZBIO) Both funds track the Nasdaq Biotechnology Index

ProShares is the worldrsquos largest provider of geared ETFs Geared ETFs are designed to offer knowledgeable investors the opportunity to act on their views whether itrsquos hedging

36

Finance

June 2015

against downturns with inverse ETFs or using a leveraged ETF to get magnified exposure to a benchmark

UBIO seeks to provide 3x and ZBIO seeks to provide -3x the daily performance of the Nasdaq Biotechnology Index before fees and expenses The Nasdaq Biotechnology Index is a modified capitalization weighted index that includes Nasdaq-listed companies classified as either biotechnology or pharmaceuticalSee the original announcement

CME Delists Two US Barclays Rate Futures Options and ContractsOn June 8 2015 the Chicago Mercantile Exchange (CME) delisted two interest rate contracts as set out in the table below

Product Name Chapter Clearing Code

Barclays US Aggregate Bond Index Futures 435 LBA

Barclays US Aggregate Bond Index Options 435A LBA

These contracts were listed for trading on the CME trading floor and CME Globex There was no open interest in these contracts

The respective product rule chapters and terms and conditions contained in the Position Limit Position Accountability and Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 (Trading Qualifications and Practices) of the CME Rulebook were removed from the Exchange RulebookSee the original announcement

SSE CFFE and Deutsche Boumlrse to Launch an Offshore Chinese MarketEffective May 27 2015 Shanghai Stock Exchange (SSE) China Financial Futures Exchange (CFFE) and Deutsche Boumlrse agreed on a strategic cooperation to launch a joint venture to develop and market financial instruments based on Chinese underlyings to international investors outside mainland China

The Venture is designed to support the internationalization of the Chinese currency therefore products will be offered in Renminbi The company will be named ldquoChina Europe International Exchangerdquo and will commence market operations in Q4 2015 The initial scope of product development will cover cash market products for market launch

Shanghai Stock Exchange and Deutsche Boumlrse will each own 40 and China Financial Futures Exchange the remaining 20 of the venture The new company will be incorporated in GermanySee the original announcement

Weather and Em

issions

June 2015

Weather and Em

issions

37

Nasdaq Stockholm Launches Sustainable Bonds ListOn June 9 2015 Nasdaq Stockholm launched a new list Nasdaq Stockholm Sustainable Bonds The list includes twelve bonds from the start with a total nominal value of over 54 bn SEK New bonds will be added on a continued basis

Nasdaq Stockholm cooperated with Sustainalytics to develop the criteria for Nasdaq Stockholm Sustainable Bonds List in order to provide investors with a comprehensive view of sustainable investment alternatives at Nasdaq Stockholm Sustainalytics helps issuers to develop green and other sustainability bond frameworks and ensures bond proceeds are allocated managed and reported in a transparent manner through its second opinions

Issuers who want to list sustainable bonds at Nasdaq Stockholm need comply with Nasdaq Stockholm Rule Book for Issuers In addition to this the following will be reviewed

Use of proceeds ndash The proceeds raised should be used for projects and activities that promote sustainability

Second opinion ndash The issuer shall provide a second opinion provided by an experienced external party

Bonds included in Nasdaq Stockholm Sustainable Bond List from the launch

Vasakronan AB VASA 445 GB SE0005561693 SEK 1 000 000 000

Vasakronan AB VASA 446 GB SE0005561701 SEK 300 000 000

38

Weather and Em

issions

June 2015

Rikshem AB RHEM 105 SE0005991510 SEK 100 000 000

Rikshem AB RHEM 116 SE0007073903 SEK 350 000 000See the original announcement

CME Delists Certain US and European Monthly Weekly and Seasonal Strip Index Futures and OptionsEffective June 8 2015 the Chicago Mercantile Exchange (CME) delisted certain CME US and European Monthly Weekly and Seasonal Strip Index Futures and Options contracts as set forth below There was no open interest in these contracts

bull CME Rulebook Chapter 403 CME Degree Days Index Futures

bull CME Rulebook Chapter 405 CME Seasonal Strip Degree Days Index Futures

bull CME Rulebook Chapter 406 CME European HDD Index Futures

bull CME Rulebook Chapter 407 CME European Seasonal Strip HDD Index Futures

bull CME Rulebook Chapter 408 CME European CAT Index Futures

bull CME Rulebook Chapter 409 CME European Seasonal CAT Strip Index Futures

bull CME Rulebook Chapter 424 CME Weekly Average Temperature Index Futures

bull CME Rulebook Chapter 424A Options on CME Weekly Average Temperature Index Futures

The product rule chapters and terms and conditions contained in the Position Limit Position Accountability and Reportable Level Table located in the Interpretations and Special Notices Section of Chapter 5 (Trading Qualifications and Practices) of the CME Rulebook were removed from the Exchange Rulebook The CME Rulebook chapters are provided in Exhibit 2 in blackline formatSee the original announcement

39

Other

June 2015

EIA Releases New Energy Visualization WidgetAs of June 15 2015 the US Energy Information Administration (EIA) released a new widget that allows internet users to display interactive visualizations of current energy data from EIA on their own websites The widget pulls user-selected data from EIArsquos application programming interface (API) to create maps line charts pie charts and bar graphs The interactive visualizations are configured to always show the latest EIA dataSee the original announcement

ZEMA collects more than 350 records from the EIA covering petroleum products natural gas coal power and finance To learn more about ZEMArsquos vast data library visit wwwzecomthe-zema-solutionsdata-coverage

Reuters Begins Offering Free News Content to Online PublishersOn June 9 2015 Reuters announced that for the first time it will offer a portion of Reuters multimedia news content for free to digital publishers through its publisher platform Reuters Media Express As the media industry navigates the unprecedented shift to digital publishing and online news consumption Reuters is endeavoring to help publishers and expose more readers to its news content This move marks the first time that Reuters has offered its content free-of-charge to publishers at this scale

Digital publishers can now download and use a limited set of free ready-to-publish Reuters news items per month ndash including text pictures video and multimedia packages This content covers world news finance business sports health entertainment politics and more The move will also allow users to search and view content without registration requiring a log-in to download content from the Media Express siteSee the original announcement

Thomson Reuters Launches its Market Data Services in CMErsquos Aurora Data CenterEffective June 4 2015 Thomson Reuters announced that it is extending the services it provides within the Chicago Mercantile Exchangersquos (CMErsquos) co-location facility located in Aurora Illinois to include managed real-time data feeds and its low-latency news service

40

Other

June 2015

providing customers with high-performance content while lowering the cost of ownership

The customers located in CMErsquos Aurora facility need access to cross-asset data and news to assist in making trading decisions Thomson Reuters will now provide these services through Elektron Managed Services within the Aurora facility

Through this service customers who have their trading applications in CME Grouprsquos Aurora facility will be able to access Thomson Reuters Elektron Real Time consolidated market data feed and the low-latency News Feed Direct service via a simple cross-connectSee the original announcement

ZEMA collects more than 4000 regular data reports from over 400 sources To learn how ZEMA users can utilize this data to create sophisticated analyses and forward curves book a free ZEMA demo at wwwzecombook-a-demo

Thomson Reuters Expands Financial Markets Psychological Analysis ServiceAs of June 1 2015 Thomson Reuters has extended the analytics offered through its MarketPsych Indices to include individual companies alongside the indexes for countries currencies commodities and industries already available

First launched in 2012 Thomson Reuters developed its MarketPsych Indices in conjunction with MarketPsych LLC a consultancy specializing in quantitative behavioral economics The indexes provide real-time linguistic and psychological analysis of news and social media converting qualitative indicators ndash such as fear performance forecasts and trust in management ndash into quantitative actionable insight The indexes announced on June 1 cover over 7500 global companies

Drawing from a pool of 40000 primary global news sources and 7000 social media sites and covering historical media from 1998 to the present Thomson Reuters MarketPsych Indices deliver real-time streaming multi-dimensional sentiment data on more than 7500 companies over 180 countries and currencies as well as other asset classesSee the original announcement

Nasdaq Expands Presence in Canadian Market with New Data Centers in OntarioEffective June 8 2015 Nasdaq announced the expansion of its Directors Desk corporate governance offering specializing in electronic board portal workflow and content delivery into Canada via the establishment of two new data centers in Ontario Similar to the existing data centers in the United States and Sweden Nasdaqrsquos intent with this initiative is to more effectively service Canadian clients The Canadian servers will be audited against SSAE 16 level II standardsSee the original announcement

ZEMA ZErsquos enterprise data management solution contains advanced display functionalities which enable users to easily align news updates from organizations such as NASDAQ OMX and OTC Markets next to market data giving users an enhanced market perspective For more information visit wwwzecomthe-zema-suitedashboard

News from Data Vendors

June 2015 41

ZEMA Adds Electricity Gas Wind Water Oil and Petrochemical Assessments in JuneFor 20 years ZE PowerGroup Inc (ZE) has consistently kept up to date on the latest in energy and commodity data changes ZE collects data spanning oil natural gas electricity weather agriculture emissions and finance ZE then provides its clients with access to both public (free subscription) and private data reports including reports that are collected based on clientsrsquo specific needs

Since the last issue of DataWatch ZE has added numerous data reports including reports published by 3TIER AESO ASX Energy ATCO Gas Amerex BMampFBOVESPA Cargill EOX Live Foreign Exchange NEISO Netztransparenzde SENER TransAlta and UGS The 14 added NEISO reports cover demand response settlement data The nine Netztransparenzde reports cover electricity data on 15-minute auction market volume balancing energy intraday market volume wind and solar energy forecasts and more Six SENER reports provide data on crude oil exports by country crude oil and NGL processing by refinery and petroleum products exports imports sales and production These reports along with other expansions of ZErsquos data collection within the last month have been implemented in response to a need for greater data coverage in strategic areas of electricity oil natural gas wind and water

To see the full list of ZEMA data providers visit wwwzecomthe-zema-solutionsdata-coverage

ZE Adds Argus Spot Ticker Benchmark Data ServiceJune 1 2015 - Argus is pleased to announce the addition of select data from the recently developed Argus Spot Ticker This service targets the needs of the downstream fuels sector by providing pricing transparency to US gasoline diesel heating oil ethanol and RINs markets The Argus Spot Ticker displays prices that are an assessment of the transactable value at regular intervals and specific moments in time starting with the market open and ending with the market close

Selected Argus Spot Ticker Benchmark Data is available through ZEMA including refined product price and differential values for the 800 am (Open) 130 230 400 pm (Close) CST time-stamped benchmarks Values are made available three times a day immediately following the publishing of the 130 230 and 400 pm benchmarks along with a low and high price at 400 pm representing values achieved during the eight hour market period

42

June 2015

Through this service you also have access to historical data

The Argus Spot Ticker is a companion service to Argus US Products a daily service on refined products markets The fuel grades displayed in Argus Spot Ticker are also assessed in Argus US Products however the services use different methodologies and therefore produce different prices

Additional information including a published methodology is available at wwwArgusSpotTickercom

To learn more about this service please contact your Argus Media representative at ArgusSpotTickerargusmediacom

EEX and EPEX SPOT Approved as Pre-registered RRMLeipzig Paris Copenhagen June 4 2015 European Energy Exchange (EEX) and EPEX SPOT have been approved as pre-registered reporting mechanisms (RRMs) by the Agency for the Cooperation of Energy Regulators (ACER) The authorization as an RRM is a prerequisite for offering data reporting services in the context of the Regulation on Market Integrity and Transparency (REMIT) ACER published the list of RRMs on June 3 2015

From October 7 onwards all orders submitted to and transactions concluded on an Organized Market Place such as the exchanges of EEX Group will have to be reported to ACER EEX EPEX SPOT Gaspoint Nordic and Powernext ndash all members of EEX Group ndash will support trading participants in fulfilling these obligations by providing data reporting services

With this step EEX Group contributes to transparency of the energy wholesale market while keeping complexity low Gaspoint Nordic and Powernext will use the RRM of EEX which facilitates reporting for market participants

About EEXThe European Energy Exchange (EEX) is the leading energy exchange in Europe It develops operates and connects secure liquid and transparent markets for energy and commodities products At EEX contracts on Power Coal and Emission Allowances as well as Freight and Agricultural Products are traded or registered for clearing Alongside EEX EPEX SPOT (incl APX-Belpex) Powernext Cleartrade Exchange (CLTX) and Gaspoint Nordic are also part of EEX Group Clearing and settlement of trading transactions are provided by the clearing house European Commodity Clearing (ECC) For more information wwweexcom

About EPEX SPOT The European Power Exchange EPEX SPOT SE operates the power spot markets for Germany France Austria and Switzerland EPEX SPOT also provides market operation services for the

43

June 2015

Hungarian Power Exchange HUPX and coupling services for 4M Market Coupling on behalf of the Slovakian Hungarian and Romanian Power Exchanges Since 4 May 2015 EPEX SPOT has become 100 owner of APX Group including Belpex APX operates the power spot markets for the Netherlands the United Kingdom and Belgium EPEX SPOT is a European company (Societas Europaea) based in Paris with branches in Leipzig Vienna and Bern as well as offices in Amsterdam London and Brussels 275 companies are active on EPEX SPOT and APX 382 TWh were traded on EPEX SPOTs markets in 2014 and 92 TWh on APX For more information wwwepexspotcom

About Gaspoint Nordic Gaspoint Nordic offers an exchange based market place for physical trade of natural gas in Denmark The products offered all have short maturity ranging from within day to month ahead Gaspoint Nordic provides a market place to producers retailers energy companies trading representatives and large consumers on which they can buy or sell natural gas anonymous and with no credit risk Trading at Gaspoint Nordic is based on continuous trading and is performed electronically through an internet based trading system This market model promotes further competition and transparency hence contributing to a dynamic gas market Gaspoint Nordic supports market based balancing in cooperation with the Danish TSO Energinetdk by offering extended trading hours in case of a gas supply crisis Since January 2015 Energinetdk and the European Energy Exchange EEX share joint ownership of Gaspoint Nordic For more information wwwgaspointnordiccom

About Powernext Powernext is a regulated market operating under AMF supervision Powernext manages the natural gas activities of the EEX Group under the PEGAS brand throughout Europe and operates the National Registry for electricity guarantees of origin in France Powernext owns 403 in EPEX SPOT and 20 in EEX Power Derivatives For more information wwwpowernextcom

44

June 2015

Power Exchanges Sign Contract with Deutsche Boumlrse for Delivery of the European Cross-Border Intraday SolutionJune 9 2015 The European Power Exchanges (PXs) APX Belpex EPEX SPOT GME Nord Pool Spot and OMIE are pleased to announce that they have signed with the support of 15 Transmission System Operators (TSOs) a contract with Deutsche Boumlrse AG for the development of the European Cross-Border Intraday Solution (XBID Solution) This marks a key milestone for the project

After the successful coupling of European day-ahead markets the single EU-wide intraday coupling is a key component for completing the European Internal Energy Market With the rising share of intermittent generation in the European generation mix connecting intraday markets through cross-border trading is an increasingly important tool for market participants to keep their trading positions balanced

The PXs and TSOs are working closely together to respond to this need by delivering a transparent and efficient continuous cross-border intraday trading environment In doing so the XBID solution will create a single integrated European intraday market

This XBID solution will be based on a common IT system to be developed by Deutsche Boumlrse AG linking the local trading systems operated by the PXs as well as the available cross-border transmission capacities provided by the TSOs Orders entered by market participants in one bidding zone can be matched in continuous trading with orders similarly submitted by market participants in any other bidding zones covered by the XBID solution provided there is cross-border capacity available

Jean Verseille Director European Affairs RTE and Co-Chair of the XBID Market Project Intraday Steering Committee said ldquoThis is a key milestone in a complex project and reflects the intensive efforts and collaboration of the PXs and TSOs Deutsche Boumlrse AG is a renowned provider of trading solutions and we are looking forward to the delivery of a high quality productrdquo

Mikael Lundin CEO of Nord Pool Spot and Co-Chair of the project with Jean Verseille added ldquoWithout doubt this is a very challenging project and reaching this milestone is a significant step The assurance that the regulators have given us provides a foundation for moving forwardrdquo

ldquoThe creation of a single integrated intraday market for energy is a crucial step towards a more efficient sustainable use of available capacities across Europerdquo commented Hauke Stars Executive Board Member of Deutsche Boumlrse responsible for the Information Technology and

45

June 2015

Market Data + Services division ldquoOur stable and reliable technology is a solid foundation for the European Cross-Border Intraday Solutionrdquo

About APX amp BelpexAPX Group is one of Europersquos leading providers of power exchange and clearing services for the wholesale market operating transparent platforms in the Netherlands the United Kingdom and Belgium APX Group provides exchange trading central clearing amp settlement and benchmark data and industry indices distribution services to over 180 members from more than 15 countries Over 92 TWh was traded on APX markets in 2014 and euro9 billion in energy trades cleared by APX APX Group including Belpex SA is wholly owned by EPEX SPOT SE

About GMEGestore dei Mercati Energetici SpA ndash GME is the company which organizes and manages the wholesale electricity market in Italy under principles of neutrality transparency objectivity and competition Moreover GME is directly committed to supporting the implementation of environmental protection policies by organizing and managing Environmental Markets Law no 99 of 23 July 2009 also assigned GME on an exclusive basis with the organization and economic management of natural-gas markets which consist of the Platform for the trading of natural gas (P-GAS) the Spot Gas Market (M-GAS) and the Gas Balancing Platform (PB-GAS) as well as of forward physical natural-gas markets Finally GME was also entrusted with the organization of a market of mineral-oil logistic services the collection of storage capacity data and the organization of a wholesale market of liquid oil products for the transport sector

About Nord Pool SpotNord Pool Spot operates Europersquos leading power markets offering both day-ahead and intraday trading to its members 380 companies from 20 countries trade on Nord Pool Spotrsquos markets in the Nordic and Baltic regions Germany and on our UK market N2EX In 2014 the group had a total turnover of 501 TWh traded power Our markets are operated from offices in Oslo Stockholm Helsinki Copenhagen Tallinn and London Nord Pool Spot strives continually to strengthen its business by working with integrity together with members and stakeholders to achieve excellence

About OMIEOMI polo espantildeol SA (OMIE) is a Spanish company created with the purpose of managing markets in underlying energy assets As its main function OMIE is responsible for the management of the Iberian spot electricity markets running every day the day-Ahead Market and six intraday markets encompassing all Iberian energy In 2014 over 830 agents from several countries executed through OMIE 139 million transactions representing an energy traded volume of 259 TWh of which 35 TWh were traded in the intraday markets this volume amounted to more than euro109 billion In addition to this principal function OMIE is responsible for the management of several energy-related product auctions

46

June 2015

The Transmission System Operators involved in the project are 50Hertz Amprion Austrian Power Grid BritNed Development Limited Creos Elia Energinetdk Fingrid National Grid Interconnectors RTE Statnett Svenska kraftnaumlt Swissgrid TenneT TSO BV (Netherlands) TenneT TSO GmbH (Germany) and TransnetBW

About Deutsche Boumlrse GroupAs a leading provider in global securities services Deutsche Boumlrse Group offers products and services to issuers investors intermediaries and market data providers The group covers the entire process chain from trading through clearing and settlement to securities custody Deutsche Boumlrse also offers market data indices and analyses and is a service provider for the development and operation of IT systems

To find out more about the European Cross-Border Intraday Solution visit the following websites

wwwapxgroupcom wwwbelpexbe wwwepexspotcom wwwmercatoelettricoorg wwwnordpoolspotcom wwwomiees

New Exchange Council Approves Organized Secondary Market for Capacity Guarantees in FranceLeipzig Paris June 11 2015 ndash At its constituent meeting in Leipzig the Members of the Exchange Council of EPEX SPOT elected Peter Heydecker as their Chairman They also designated Dr Michael Redanz from MVV Trading Mr Andrea Siri from Edison Trading and Dr Bernhard Walter from EnBW Trading as Vice-Chairmen of the Exchange Council The Council also appointed the following permanent guests Mr Thorsten Dietz from Tennet TSO GmbH Mr Manfred Pils from APG Mr Stefan Sewckow from Trianel GmbH and Mr Jan Horst Keppler from Universiteacute Paris-Dauphine as academic counsel

ldquoWe are facing challenging developments in the electricity trading sector such as the creation of the pan-European power market and the increasing importance of Intraday power tradingrdquo says Peter Heydecker who has already been Exchange Council Chairman during the last term ldquoI am very happy to further accompany these evolutionsrdquo

Moreover the Exchange Council approved the launch of an organized market for trading of capacity guarantees in France This market is based on the capacity mechanism introduced by the French Ministry of Ecology Sustainable Development and Energy and the French

47

June 2015

electricity grid operator RTE The capacity mechanism was set up in order to ensure security of supply in France which might be challenged by a combination of fast increasing peakload and low profitability for capacity owners

The development of an organized secondary market for capacity guarantees will help suppliers to fulfil their obligations and capacity owners to value their capacities It also provides a transparent and reliable price reference for capacity guarantees The market will be organized through several auctions per year with trading of standardized guarantees for future winter periods The capacity market is scheduled to be launched end of 2015

ldquoAn organized market with a reliable price reference is crucial for a decentralized capacity mechanismrdquo says Jean-Franccedilois Conil-Lacoste Chairman of the Management Board of EPEX SPOT ldquoIts design takes into account the particular needs of the French power system while ever looking for strengthening the European energy-only market We are looking forward to organizing this new segmentrdquo

The second Exchange Council meeting in 2015 was held on June 10 and was chaired by Peter Heydecker Head of European Power at Vitol

The Exchange Council of EPEX SPOT is an official body of the Exchange 22 members and 4 permanent guests represent adequately the diversity of economic and corporate profiles that exists among the Exchange Members from various sectors producers power trading companies transmission system operators regional suppliers and financial service providers as well as commercial consumers and academics Its missions include in particular the adoption of the Exchange Rules and the Code of Conduct of EPEX SPOT and their amendments The Exchange Council approves new trading systems as well as new contracts or market areas and approves the appointment of the Head of the Market Surveillance Office It meets up quarterly

The European Power Exchange EPEX SPOT SE operates the short-term electricity markets for Germany France Austria and Switzerland EPEX SPOT owns 100 of APX Group (including Belpex) operator of the short-term electricity markets for the Netherlands the United Kingdom and Belgium Striving for the creation of a European single market for electricity EPEX SPOT shares its expertise with partners across the continent and beyond EPEX SPOT is a European company (Societas Europaea) in corporate structure and staff based in Paris with offices in Amsterdam Bern Brussels Leipzig London and Vienna 275 companies trade over 450 TWh of electricity on EPEX SPOT and APX every year ndash one third of its countriesrsquo electricity consumption EPEX SPOT is held by EEX Group part of Deutsche Boumlrse and European electricity transmission system operators For more information wwwepexspotcom

48

June 2015

SEEPEX Targets Launch of Serbian Day-Ahead Market by End of November 2015Belgrade Paris June 24 2015 The project partners of the South Eastern European Power Exchange (SEEPEX) target the launch of the Serbian day-ahead market by end of November 2015 subject to successful member testing and regulatory approval This was announced during a workshop with future members held on June 24 2015 where Serbian regional and European electricity market participants underlined their interest in joining an organized market in Serbia SEEPEX will be a major step in the creation of a regional power trading solution for South Eastern Europe (SEE) and is highly anticipated by the electricity market community

SEEPEX is a joint venture between Elektromreža Srbije (EMS) the Serbian transmission system operator and the European Power Exchange EPEX SPOT The operations of SEEPEX will rely on the trading system ETS used by EPEX SPOT for operating its own markets Clearing and settlement shall be performed by the clearing house European Commodity Clearing (ECC) SEEPEX members will thus benefit from high-level standards both in terms of trading and clearing services This also allows for an efficient and fast adherence to existing market coupling initiatives such as the 4M Market Coupling or the Multi-Regional Coupling stretching already across countries covering 85 of European electricity consumption

SEEPEX will foster the development of a competitive transparent and reliable electricity market for Serbia and South Eastern Europe boosting electricity trading in the entire region ldquoSEEPEX will be the cornerstone for power trading in the Balkansrdquo says Nikola Petrović EMS General Manager ldquoIts mixture of local roots and European DNA is essential for successrdquo

ldquoThe geographic positioning of Serbia in the region is ideal for launching an organized power market providing a reliable price signalrdquo adds Jean-Franccedilois Conil-Lacoste Chairman of the Management Board of EPEX SPOT ldquoSEEPEX is able to serve as an example for other markets in the SEE regionrdquo Market rules and the membership package will be disclosed during July Member tests will start in September 2015 Future members will receive regular updates on the projectrsquos progress

The Elektromreža Srbije (EMS) is a public company fully owned by the Republic of Serbia established under Serbian law in 2005 EMS as the Serbian Transmission System Operator is entitled by the Serbian Energy Law to operate and develop the Serbian transmission network as well as to establish the Market Operator in charge of the Serbian organized power market As a full member of the European Network of Transmission System Operators for Electricity (ENTSO-E) EMS is fully committed to the facilitation of the Serbian national power market as well as its future integration within the regional and internal pan-European power market For more information wwwemsrs

49

June 2015

Carbon Market Data Launches the India Greenhouse Gas Reporting Company DatabaseJune 3 2015 - Carbon Market Data is happy to announce the launch of the India Greenhouse Gas Reporting Company Database

The India GHG Reporting Company Database provides CO2 emissions data as well as power capacity and generation information on around 450 Indian power plants

Database contentsbull Power plant name bull Company name bull Power capacity (MW) bull Region bull State

bull Sector (State Private etc)

bull Typebull Fuel 1bull Fuel 2

bull Net Power Generation (GWh) from 2008

bull CO2 emissions from 2008bull Emissions factor

(tCO2MWh) from 2008

To download a sample of this new report click here

Monthly M

arket Analysis

June 2015 50

Monthly M

arket AnalysisCrude Oil Brent vs WTI Prompt-Month Contract (NYMEX)

According to data from NYMEX crude oil prices for NYMEX prompt-month contracts for Brent and WTI moved in separate directions during June 2015 with WTI moving up while Brent sliding down The prompt-month contract for Texas light sweet increased by 16 from the previous month to 60 USDBbl as US stocks fell for the eighth straight week and a supply glut continued to accumulate in Europe and West Africa

Brent on the other hand traded 3 lower this month with prices settling at 64 USDBbl down 3 from May as rising OPEC supplies are reducing Brent prices counteracting the effects of geopolitical flare-ups in the Middle East (Reuters) The past 12-month averages for WTI and Brent are 72 USDBbl and 78 USDBbl respectively

The Brent-WTI spread (represented by the purple area in the graph above) averaged 4 USDBbl this month which was 2 USDBbl below the last 12-month average of 6 USDBbl

51

Monthly M

arket Analysis

June 2015

Crude Oil Brent vs WTI Forward Curve (NYMEX)

On NYMEX futures contracts for crude oil benchmarks continued to decline in June 2015 This month the NYMEX Brent forward curve for delivery by the end of June 2017 (represented by the blue line in the graph above) slightly decreased by 12 USDBbl to settle at 54 USDBbl compared to the results of trades in May Texas Light Sweet in June (the red line in the graph above) averaged at 51 USDBbl a drop of 9 USDBbl for the same delivery period

For the third month in a row the Brent-WTI spread on the other hand averaged at 3 USDBbl (the purple area) for the next 24 months

Oil futures took a hit this month resulting in a loss The further increase in Saudi crude output concerns about energy demand on the heels of Greecersquos ongoing debt crisis and monitored negotiations over Iranrsquos nuclear program are all contributing factors in the price decline

52

Monthly M

arket Analysis

June 2015

North American Natural Gas Spot Prices (NYMEX)

On the New York Mercantile Exchange (NYMEX) prices at Henry Hub Transco Zone 6 and Chicago remained relatively constant at just below 3 USDMMBtu throughout the first three weeks of June 2015 PGampE on the other hand floated above the 3 USDMMBtu mark with prices ranging from 314 USDMMBtu on June 1 2015 to 336 USDMMBtu on June 10 and settling at 320 USDMMBtu on June 22 Prices at Transco Zone 6 followed a similar trend beginning the month at 217 USDMMBtu before dropping to 190 USDMMBtu on June 5 and increasing to 239 USDMMBtu on June 10 before settling at 215 USDMMBtu over the course the last four days of June 2015 as temperatures increased

When compared to the first 22 days of May 2015 the average prices fell Prices decreased from 288 USDMMBtu in New Yorkrsquos Transco Zone 6 to 276 USDMMBtu from 281 USDMMBtu in Chicago to 266 USDMMBtu from 288 USDMMBtu in Henry Hub to 276 USDMMBtu and from 337USDMMBtu in Californiarsquos PGampE Citygate to 323 USDMMBtu Comparing June 2015 prices to the same period last year monthly average gas prices decreased in New Yorkrsquos Z6 Chicago Citygates Henry Hub and PGampE by 41 41 40 and 37 respectively

53

Monthly M

arket Analysis

June 2015

Henry Hub Natural Gas Forward Curve (NYMEX)

On NYMEX natural gas futures available for trade in the next 12 months at Henry Hub slightly increased in June 2015 the whole curve has moved up Although natural gas futures on NYMEX increased by 2 in June 2015 when compared to the previous month the spread between current and previous month contracts (represented above by the red bar) was almost negligible

Natural gas for July delivery rose by 2 to settle at 302 USDMMbtu on NYMEX as the outlook for cooling demand in July approaches For the next 12 months Henry Hub natural gas futures in June 2016 had an average price of 322 USDMMbtu

54

Monthly M

arket Analysis

June 2015

1 Monthly Temperature (AccuWeather)

From May 2015 to the third week of June 2015 the temperature increased in all observed North American cities as we move into the middle of summer The monthly average temperature rose in Chicago by 5 degrees to 20 Celsius (C) in San Antonio by 4 degrees to 29C in New York City by 1 degree to 22C and in San Diego by 1 degree to 19C

In June 2015 the two-year average in all observed cities was slightly varied When comparing the past two-year average of June temperatures to June 2015 temperatures this yearrsquos June was warmer in Chicago and San Antonio by 1C New York felt 1C cooler this June compared to the past two-year average

In June 2015 the city of Chicago experienced the largest fluctuations among all observed cities as the city reached 26C on June 10 The city felt cooler as temperatures dropped to 17C on June 17 settling at 27C for the last day of observation This yearrsquos June did not end up deviating from the normal seasonal pattern for this time of year based on the two-year average and a comparison with the previous month

Actual Weather (AccuWeather)

2 Daily Temperature (AccuWeather)

55

Monthly M

arket Analysis

June 2015

On the ICE June 2015 day-ahead peak electricity prices in CAISO represented by SP15 and ERCOT represented by North 345kV began to increase as of June 4 2015 CAISO SP15 prices rose from 32 USDMWh on June 4 to 42 USDMWh on June 16 before settling at 45 USDMWh on June 22

Prices at PJM and NYISO both followed a similar downward trend this month Prices at PJM APS Zone and NYISO Zone A began the month at 44 and 41 USDMWh respectively before dropping to 40 and 36 USDMWh on June 16 ending the observation period at 39 and 34 USDMWh respectively

ERCOT prices remained relatively flat throughout the first three weeks of the June averaging at 28 USDMWh

Electricity Day-Ahead Prices (ICE)

56

Monthly M

arket Analysis

June 2015

On CME gold prices fell during the last week of May 2015 and throughout the month of June Gold prices began the month of June at 1194 USDToz before falling by 27 USDToz then bottoming out at 1167 USDToz on June 5

Although gold prices have been hovering between 1167 USDToz and 1227 USDToz per ounce for several months it could be set to climb as investors look to mitigate risks as Greece edges towards default

Silver peaked at 1678 USDToz on June 2 before dropping 6 to settle at 1581 USDToz on June 12 Silver traded 011 USDToz below its seven-day moving average of 16026 USDToz

Gold and Silver Daily Prices (CME)

57

Monthly M

arket Analysis

June 2015

On CME wheat futures available for trade in the next 12 months jumped in June 2015 The price of wheat increased by 14 for trade in July 2015 when compared to the previous month due to wet weather that has been delaying the harvest in key US growing areas

Wheat for September the best-traded contract touched 584 USDbushel up 079 USDbushel from last month The headway came amid expectations of further rains for the US Midwest ndash where soft red winter wheat as traded in Chicago is grown ndash bringing the prospect of further harvest delays (Reuters)

Wheat Futures Forward Curve (CME)

In Depth

58

Alongside hyperloops rockets and luxury electric vehicles the Tesla Powerwall battery isnrsquot exactly the most sensational technology for which Elon Musk CEO of Tesla Motors and SpaceX has made headline news recently Nonetheless Powerwall has the potential to become Muskrsquos most revolutionary endeavor in the long run Certainly there are many who herald this technology as the solution to global warming and one of the biggest breakthroughs of the 21st century On the other side of the spectrum there is no shortage of critics who discount Powerwall as an impractical and uneconomical novelty destined for failure As usual the truth probably lies somewhere in the middle and only time will resolve these disputes For now the best we can do is play the odds and speculate on the likely implications distributed power storage might have on the energy landscape of tomorrow

June 2015

59

In Depth

June 2015

In last monthrsquos article I looked at some of the financial considerations regarding the consumer side of this new technology now I shift my focus to what could happen on the other side of the meter ndash what could become of utility companies if independent power storage solutions are popularized In all likelihood this would disrupt how power companies do business though perhaps not in the ways one might expect The crisis faced by utilities in this scenario is not merely less demand but less predictable demand which could be equally as great a challenge to sustaining profitability

In the decades ahead it seems unlikely that the world will transition totally and seamlessly to solar energy despite what Elon Musk might contend Instead we will likely move into an increasingly decentralized model where conventional utility companies need to respond to shifting markets embrace smart grid technologies and increase their data management capacities But before we examine some of the potential challenges let us revisit two of the frequently overlooked technical features of the Powerwall battery and the source of its disruptive potential

Technical Possibilities of PowerwallThe functional possibilities of Tesla batteries go well beyond being an accessory to solar panels For residential users Powerwall batteries not only store and discharge renewable energy and serve as power backups during outages but they can also help reduce energy bills by charging during off-peak hours and providing power to homes during peak hours Of course there is a great deal of skepticism about how financially beneficial this might actually be especially considering the approximate 5000 USD cost of purchasing and installing a single 10 kWh Powerwall unit But the fact remains that Powerwall is a ldquosmartrdquo technology managed by external software that can give individual homes and businesses the ability to smooth out power rates on their own behalf This feature alone has the potential to upset the predictive models of utility companies in a significant way

As well while the bulk of Teslarsquos marketing efforts seem to be directed toward residential customers perhaps the greatest potential for these batteries resides in their scalability for commercial and industrial applications Individual Powerwall units can be combined into ldquoPowerpacksrdquo which provide 100 kWh of storage each Because Powerpacks can scale infinitely they are capable of providing megawatt- and even gigawatt-class energy storage Businesses and industries could use Powerpacks for load shifting or even to participate in

In all likelihood this would disrupt how power companies do business though perhaps not in the ways one might expect

60

In Depth

June 2015

grid markets as a revenue stream For large-scale enterprises that closely monitor their energy consumption and constantly seek out ways to improve operating efficiencies Powerpackrsquos ability to smooth out load and energy costs over the course a day or even seasonally may become very appealing especially when coupled with intermittent renewable generation technologies like solar and wind

One nascent example of Teslarsquos commercial and industrial application is EnerNOCrsquos recent announcement that it will be deploying Tesla batteries at select customer sites throughout California EnerNOC a large provider of energy software and demand response for businesses industries and utilities will be deploying Teslarsquos 100 kWh Powerpacks to a yet undisclosed number of sites While EnerNOC CEO Tim Healy stated that the company isnrsquot expecting a sizable savings from the Tesla implementation this year he did say that ldquothis could be a sizable channel to marketrdquo in the coming years1

Indeed independent storage could soon become a sweeping trend in the emerging energy landscape for residential commercial and industrial uses How this will affect the energy industry itself is something that warrants serious consideration

The functional possibilities of Tesla batteries go well beyond being an accessory to solar panels

A Strange New World for the Energy IndustryWidespread popularization of independent storage could result in major disruption to the status quo of the energy industry The next 5-10 years could see a chaotic scramble to figure out a new paradigm in how energy companies make money and distribute power

In the event of widespread decentralized energy production and storage two trends could emerge less demand and less predictable demand Beginning with the former a large-scale adoption of independent batteries (especially if coupled with renewable technologies) could result in a significant decrease in demand If demand declines sharply the grid would be underutilized but require the same amount of capital to maintain it Energy utilities have a mandate to maintain the grid and to store adequate operating reserves at all times regardless of how heavily they are utilized But these expenses become difficult to support if revenues diminish in the shift toward greater decentralization As well less demand could lead to a surplus in power on the grid ndash power that may have to be discharged arbitrarily in order to stabilize the grid

Less demand is a reality that areas of the energy industry have already begun to grapple with The ZEMA graph below shows weather adjusted load for CAISO from May 2009 to May 2015

61

In Depth

June 2015

Here we can see a red downward trending line showing how weather has impacted load from a solar standpoint Over this timespan the graph shows that total system load has decreased by roughly 12 after taking weather into account The incremental decrease of load due to off-grid solar generation is also highlighted in green One could interpret the decline in total system load as off-grid solar generation working to recoup a portion of that load The influx of affordable storage technologies could act as a tipping point that accelerates this trend even more

Figure 1 ndash CAISO solar impact trend analysis

The second trend in this scenario the unpredictability of demand presents an even greater complication for utility companies If independent storage catches on every site with its own battery could be an unknown unpredictable variable for the utility company that manages it Presently utility companies carefully manage the current load and projected demand of their markets As independent batteries begin trickling into households and businesses utility companies will have a much harder time budgeting power and ensuring adequate demand response The conversion of households and businesses into two-way energy consumersproducers with their own storage capacities could undermine utility companiesrsquo data and disrupt their forecasting models A prevalence of independent batteries would produce a huge amount of important data that could be out of reach for utility companies This data would be collected by private tech companies (like Tesla or EnerNOC) but unless utilities broker a deal with these companies they may be left in the dark missing out on vital data concerning their clientsrsquo energy needs and habits This could present serious challenges to effectively managing power supply

As if that werenrsquot enough utilities could be forced to expand their existing infrastructure in the midst of this potential chaos Even if their demand is diminished residences and businesses with batteries andor renewables still need to be tied into the grid To effectively service these sites utility companies would need to bypass traditional distribution infrastructure and connect directly to individual residences and businesses This essentially means developing microgrid systems in which individual houses have bi-directional inverters and smart meters At present it is unclear where the capital would come from in order to expand this infrastructure In other words there is no regulatory basis in place to say if utilities home

62

In Depth

June 2015

owners or batteryrenewables companies would end up absorbing these costs Ultimately this expanded infrastructure would lead to more data being generated within the grid much of it potentially out of reach of the utility companies

Selling the SolutionIntelligently Tesla seems to be selling a solution for the crisis it is helping create as it has designed the Powerpack product to serve utilities Because Tesla batteries can scale infinitely they are being marketed to utility companies to assist with load shifting system firming and maintaining operating reserves This ostensibly means that the unpredictable imbalances caused by renewables could be offset by adding stored energy to the system during times of unexpectedly high demand and storing surplus energy when demand is unexpectedly low

In a best-case scenario this is a win-win solution ndash Tesla gets to sell large-scale battery systems to utilities and utilities can take advantage of the same technology that is helping residences and businesses save money and manage loads However it is too soon to say if Teslarsquos large-scale battery systems are an economical and satisfactory solution to utilitiesrsquo looming complications

Figure 2 - Artistrsquos rendering of a utility-scale Tesla Powerpack system composed of multiple 100 kWh battery blocks (Source Tesla Motors)

Consumers BacklashAgain it is too early to say with any certainty what effect the introduction of independent bat-teries will have on power markets in general However it is possible that independent storage could end up inflating costs for power consumers who do not have a home battery Due to the aforementioned infrastructure upgrades potentially needed to the grid coupled with the possibility of less revenue utility companies might need to increase rates to remain viable

63

In Depth

June 2015

and maintain service While this would mean higher rates all-around it would hit hardest for people without independent storage andor renewable generation The increasing power rates would become a major boon for renewable manufacturers more quickly closing the gap of grid parity The more expensive conventional electricity would become the more attractive independent storage would look to consumers

If the scales tip and if off-grid solutions become the most economical choice for consumers it could result in a huge influx of independent storage and renewable technologies into the grid If demand plummets this could cause major upheaval for not only utility companies but for generation plants as well As batteries and renewable technologies approach or even surpass grid parity their owners and manufacturers might come under pressure from utilities and lawmakers This could even mean the eventual discontinuation of tax incentives for such products

The more expensive conventional electricity would become the more attractive independent storage would look to consumers

Conclusion Data as the Key to Surviving the Lithium-Ion RevolutionIf we reexamine Muskrsquos perhaps hyperbolic claim during his product launch that Powerwall represents a ldquofundamental transformation of how the world works how energy is delivered across the earthrdquo we see that there might end up being some truth in it With the price of lithium-ion batteries falling dramatically every year it is conceivable that their widespread dissemination within residential and commercial energy supplies could soon become a reality

With battery technologies like Teslarsquos being added to the energy mix in the near future utility companies may need to become very flexible very quickly This flexibility could take on many forms For one utility companies may need to collaborate with battery manufacturers andor energy software companies so that utilities can access battery data Knowing who has a battery when it is likely to be used and how much power it is storingdrawingsupplying is all vital information that would help utility companies maintain the stability of the entire grid Thus utilities will need to take advantage of emerging technologies and data management systems to better forecast energy demand for a grid that is increasingly unpredictable

Furthermore utility companies may need to consider vertically integrating with battery and renewable technology suppliers In the years to come there could be a great deal of money to be made in retailing and installing these technologies Alternatively this this could also become a contested site between tech and utility companies Regardless there will continue

June 2015

In Depth

64

About ZE PowerGroup IncZE is an experienced software and strategic consulting firm that combines energy industry expertise with advanced software development capabilities ZE is the developer of ZEMA a sophisticated enterprise data management and analysis solution built to meet the challenges of participants in energy and commodities markets

About ZEMAZEMA is an enterprise data management software designed for collecting data and performing complex analysis ZEMA replaces fragmented data management processes with a sophisticated unified and automated system Each ZEMA component is modular and scalable giving clients greater flexibility when integrating it into their organizations The solution is easy to use and backed by ZErsquos support team around the clock It has been ranked first in the Energy Risk Awards ldquoData Management House of the Yearrdquo category for five years in a row In Energy Riskrsquos annual software survey and rankings it is also consistently rated by end users as first in the ldquoPreferred Systemrdquo ldquoEase of System Integrationrdquo and ldquoCustomer Servicerdquo categories

DisclaimerZE DataWatch is a report comprised of data updates and expectations for energy and commodities markets powered by ZEMA The news contained in ZE DataWatch is for information purposes only Although ZE PowerGroup believes the information in this report to be correct the organization does not warrant the accuracy or completeness of it

Information in this report is not intended to provide financial legal accounting or tax advice and should not be relied upon in that regard ZE PowerGroup is not responsible in any manner whatsoever for direct indirect special or consequential damages howsoever caused arising out of the use of this report

to be the potential for profit as long as utility companies remain adaptable take advantage of new technologies and business practices and not fall behind in the race for reliable data

Ultimately the trend of distributed power supply is likely to accelerate with the introduction of independent power storage technologies Regardless of the success or failure of Tesla data will be increasingly vital to maintaining successful business operations in the emerging energy landscape All indicators suggest that the amount of data is going to explode in the years and decades ahead making data both a critical challenge and crucial resource for economic success For utility companies especially predicting what is now unpredictable will become the key to survival 6

Works Cited1 Qtd by Jeff St John ldquoHow EnerNOC Is Building Teslarsquos Batteries Into Its Demand Response Plansrdquo Greentech Media May 11 2015 Accessed June 25 2015 httpwwwgreentechmediacom articlesreadhow-enernoc-is-building-teslas-batteries-into-its-demand-response-plans

Indepth
stateoftheunionaddress
Bookmark 75
power
petroleum
summary
Content
_GoBack
Coal vs Renewables Battle with Intermittent Success
CAISO Releases New Mobile App with EIM Data
Argus Introduces Hourly North American Power Forward Curves
CME Trades First Lots of German Base Load
Marex Spectron Arranges First STP Cleared EEX German Power Contract
APX EPEX SPOT Deutsche Boumlrse and Others Inaugurate European Cross-Border Intraday Solution
Platts to Assess Rotterdam 01 Sulfur Bunker Fuel
Platts Launches Rotterdam FOB Jet Barge Swaps
Platts Introduces New Asian Supramax Dry Bulk Petcoke Assessments
Platts Launches New EastWest Naphtha Assessments
Argus to Add West African Crude Assessments
Argus Adds New North Sea Crude Assessments
Argus Adds US-Taiwan Isoprene Series
Argus Introduces North American Base Oil Assessments
Argus Launches New German and French Gasoil Heating Oil Codes
Argus Adds Light and Heavy Basrah FOB Assessments
CME Lists Two Existing Heating Oil Futures on CME Globex
Platts Discontinues Rubber Index Newsletter
Platts Discontinues Gasoil Minus Palm Oil Spread
Platts Stops Publishing ICE Brent UK Assessments
Argus Stops Two West African Oil Assessments
Argus Stops Certain Russian Gasoil Assessments
Argus Amends Descriptions for Mediterranean Fuel Oil Assessments
Argus Launches Zeebrugge Natural Gas Assessments
ICE GME and Snam to Introduce Italian Natural Gas Futures
Platts to Assess Illinois Basin 11800 FOB Basin Coal
Argus Adds US Coal Assessments
CME Lists Existing Coking Coal Contract on CME Globex Trading
Platts to Introduce Supplementary Biofuels RIN Codes
Argus Adds European Fertilizer Assessments
Argus Introduces Algerian Urea Granular Bulk FOB Assessment
TMX Group Launches AgriClear Platform for US and Canadian Cattle Buyers and Sellers
Platts to Discontinue non-Renewable Energy Directive Biodiesel FOB ARA Assessments
Platts Ends non-Renewable Energy Directive European SME Biodiesel Assessment
Platts to Launch Minimum Greenhouse Gas Saving for Standard T2 Ethanol
Argus Revises and Replaces Select European Fertilizer Codes
Platts to Add New US Lead-Acid Battery Assessment
Platts Launches European Iron Ore Netback Assessments
Platts Publishes Direct Reduction Iron Ore Pellet Premium
Argus Introduces Chinese Erbium Oxide Assessment
CME Lists Five Existing Metals Futures on CME Globex
COMOX Lists Physically-Delivered Zinc Futures on CME
Platts to Discontinue Numerous US Minor Metals Prices
Platts Discontinues LBMA Platinum and Palladium Prices
ICE Launches Eris Standard Interest Rate Futures in Euro and Pound Sterling
Thomson Reuters Launches New Valuations and Transparency Capability
Thomson Reuters Expands Coverage of Canadarsquos Fixed Income Market
Nasdaq Lists Global X YieldCo Index ETF
Nasdaq Lists Elkhorn SampP 500 Capital Expenditures ETF
ICAP Launches First Matching Session in Investment Grade Corporate Eurobonds
Euronext Launches Country Indexes for Germany Italy and Spain
Nasdaq Lists Two New ProShares Biotech ETFs
CME Delists Two US Barclays Rate Futures Options and Contracts
SSE CFFE and Deutsche Boumlrse to Launch an Offshore Chinese Market
Nasdaq Stockholm Launches Sustainable Bonds List
CME Delists Certain US and European Monthly Weekly and Seasonal Strip Index Futures and Options
EIA Releases New Energy Visualization Widget
Reuters Begins Offering Free News Content to Online Publishers
Thomson Reuters Launches its Market Data Services in CMErsquos Aurora Data Center
Thomson Reuters Expands Financial Markets Psychological Analysis Service
Nasdaq Expands Presence in Canadian Market with New Data Centers in Ontario
ZEMA Adds Electricity Gas Wind Water Oil and Petrochemical Assessments in June
ZE Adds Argus Spot Ticker Benchmark Data Service
EEX and EPEX SPOT Approved as Pre-registered RRM
Power Exchanges Sign Contract with Deutsche Boumlrse for Delivery of the European Cross-Border Intraday Solution
New Exchange Council Approves Organized Secondary Market for Capacity Guarantees in France
SEEPEX Targets Launch of Serbian Day-Ahead Market by End of November 2015
Carbon Market Data Launches the India Greenhouse Gas Reporting Company Database
Crude Oil Brent vs WTI Prompt-Month Contract (NYMEX)
Wheat Forward Curve (CME)
Teslaand the Shiftin Power
Part 2How Powerpack and Powerwall batterieswill amplify the need for data management
_GoBack

Page 2: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

Summ

ary

June 2015

Contents

Editorial 5 Intermittent Success in the Battle between Coal and Renewables 5

Power 7 CAISO Releases New Mobile App with EIM Data 7Argus Introduces Hourly North American Power Forward Curves 7CME Trades First Lots of German Base Load 8Marex Spectron Arranges First STP Cleared EEX German Power Contract 9APX EPEX SPOT Deutsche Boumlrse and Others Inaugurate European Cross-Border Intraday Solution 9

Petroleum 10 Platts to Assess Rotterdam 01 Sulfur Bunker Fuel 10Platts Launches Rotterdam FOB Jet Barge Swaps 11Platts Introduces New Asian Supramax Dry Bulk Petcoke Assessments 12Platts Launches New EastWest Naphtha Assessments 12Argus to Add West African Crude Assessments 13Argus Adds New North Sea Crude Assessments 13Argus Adds US-Taiwan Isoprene Series 13Argus Introduces North American Base Oil Assessments 14Argus Launches New German and French Gasoil Heating Oil Codes 14Argus Adds Light and Heavy Basrah FOB Assessments 15CME Lists Two Existing Heating Oil Futures on CME Globex 16Platts Discontinues Rubber Index Newsletter 16Platts Discontinues Gasoil Minus Palm Oil Spread 17Platts Stops Publishing ICE Brent UK Assessments 17Argus Stops Two West African Oil Assessments 18Argus Stops Certain Russian Gasoil Assessments 18Argus Amends Descriptions for Mediterranean Fuel Oil Assessments 19

Natural Gas 20 Argus Launches Zeebrugge Natural Gas Assessments 20ICE GME and Snam to Introduce Italian Natural Gas Futures 20

Coal 21Platts to Assess Illinois Basin 11800 FOB Basin Coal 21Argus Adds US Coal Assessments 21CME Lists Existing Coking Coal Contract on CME Globex Trading 22

2

Summ

ary

Summ

ary

June 2015

3

Summ

ary

Summ

ary

4June 2015

Summ

Editorial

June 2015 5

Coal and Renewables

Editorial

June 2015

6

Power

June 2015 7

Power

8

Power

June 2015

bull PJM West

bull PJM AD

bull PJM NI

bull PJM East

bull PJM PEPCO

bull ERCOT North

bull ERCOT South

bull ERCOT Houston

bull ERCOT West

bull NEPool Mass

bull NEPool CT

bull NEPool NEMA

bull NEPool SEMA

bull NYISO Zone A

bull NYISO Zone C

bull NYISO Zone F

bull NYISO Zone G

bull NYISO Zone J

bull MISO Indiana

bull MISO Michigan

bull MISO Illinois

bull MISO Louisiana

bull MISO Texas

9

Power

June 2015

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

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In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
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Page 3: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

Summ

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June 2015

3

Summ

ary

Summ

ary

4June 2015

Summ

Editorial

June 2015 5

Coal and Renewables

Editorial

June 2015

6

Power

June 2015 7

Power

8

Power

June 2015

bull PJM West

bull PJM AD

bull PJM NI

bull PJM East

bull PJM PEPCO

bull ERCOT North

bull ERCOT South

bull ERCOT Houston

bull ERCOT West

bull NEPool Mass

bull NEPool CT

bull NEPool NEMA

bull NEPool SEMA

bull NYISO Zone A

bull NYISO Zone C

bull NYISO Zone F

bull NYISO Zone G

bull NYISO Zone J

bull MISO Indiana

bull MISO Michigan

bull MISO Illinois

bull MISO Louisiana

bull MISO Texas

9

Power

June 2015

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
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Page 4: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

Summ

ary

4June 2015

Summ

Editorial

June 2015 5

Coal and Renewables

Editorial

June 2015

6

Power

June 2015 7

Power

8

Power

June 2015

bull PJM West

bull PJM AD

bull PJM NI

bull PJM East

bull PJM PEPCO

bull ERCOT North

bull ERCOT South

bull ERCOT Houston

bull ERCOT West

bull NEPool Mass

bull NEPool CT

bull NEPool NEMA

bull NEPool SEMA

bull NYISO Zone A

bull NYISO Zone C

bull NYISO Zone F

bull NYISO Zone G

bull NYISO Zone J

bull MISO Indiana

bull MISO Michigan

bull MISO Illinois

bull MISO Louisiana

bull MISO Texas

9

Power

June 2015

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
power
petroleum
summary
Content
_GoBack
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Page 5: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

Editorial

June 2015 5

Coal and Renewables

Editorial

June 2015

6

Power

June 2015 7

Power

8

Power

June 2015

bull PJM West

bull PJM AD

bull PJM NI

bull PJM East

bull PJM PEPCO

bull ERCOT North

bull ERCOT South

bull ERCOT Houston

bull ERCOT West

bull NEPool Mass

bull NEPool CT

bull NEPool NEMA

bull NEPool SEMA

bull NYISO Zone A

bull NYISO Zone C

bull NYISO Zone F

bull NYISO Zone G

bull NYISO Zone J

bull MISO Indiana

bull MISO Michigan

bull MISO Illinois

bull MISO Louisiana

bull MISO Texas

9

Power

June 2015

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
power
petroleum
summary
Content
_GoBack
_GoBack

Page 6: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

Editorial

June 2015

6

Power

June 2015 7

Power

8

Power

June 2015

bull PJM West

bull PJM AD

bull PJM NI

bull PJM East

bull PJM PEPCO

bull ERCOT North

bull ERCOT South

bull ERCOT Houston

bull ERCOT West

bull NEPool Mass

bull NEPool CT

bull NEPool NEMA

bull NEPool SEMA

bull NYISO Zone A

bull NYISO Zone C

bull NYISO Zone F

bull NYISO Zone G

bull NYISO Zone J

bull MISO Indiana

bull MISO Michigan

bull MISO Illinois

bull MISO Louisiana

bull MISO Texas

9

Power

June 2015

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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petroleum
summary
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Power

June 2015 7

Power

8

Power

June 2015

bull PJM West

bull PJM AD

bull PJM NI

bull PJM East

bull PJM PEPCO

bull ERCOT North

bull ERCOT South

bull ERCOT Houston

bull ERCOT West

bull NEPool Mass

bull NEPool CT

bull NEPool NEMA

bull NEPool SEMA

bull NYISO Zone A

bull NYISO Zone C

bull NYISO Zone F

bull NYISO Zone G

bull NYISO Zone J

bull MISO Indiana

bull MISO Michigan

bull MISO Illinois

bull MISO Louisiana

bull MISO Texas

9

Power

June 2015

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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petroleum
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8

Power

June 2015

bull PJM West

bull PJM AD

bull PJM NI

bull PJM East

bull PJM PEPCO

bull ERCOT North

bull ERCOT South

bull ERCOT Houston

bull ERCOT West

bull NEPool Mass

bull NEPool CT

bull NEPool NEMA

bull NEPool SEMA

bull NYISO Zone A

bull NYISO Zone C

bull NYISO Zone F

bull NYISO Zone G

bull NYISO Zone J

bull MISO Indiana

bull MISO Michigan

bull MISO Illinois

bull MISO Louisiana

bull MISO Texas

9

Power

June 2015

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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petroleum
summary
Content
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9

Power

June 2015

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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Content
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Page 10: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

Petroleum

June 2015 10

Petroleum

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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Content
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Page 11: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

11

Petroleum

June 2015

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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Page 12: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

12

Petroleum

June 2015

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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Page 13: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

13

Petroleum

June 2015

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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Page 14: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

14

Petroleum

June 2015

PA-codePrice type

Category

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
Bookmark 75
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Content
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Page 15: Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack and Powerwall batteries will amplify the need for data management New products

15

Petroleum

June 2015

Category

16

Petroleum

June 2015

CME Globex Code

17

Petroleum

June 2015

18

Petroleum

June 2015

19

Petroleum

June 2015

Weekly

Daily

Monthly

Natural Gas

June 2015

Natural Gas

20

PA-codePrice type

Continuous forward

Unit Category

-EuroMWh

Coal

June 2015 21

Coal

22

Coal

June 2015

Softs and Metals

June 2015 23

Softs and Metals

SOFTS

24

Softs and Metals

June 2015

25

Softs and Metals

June 2015

26

Softs and Metals

June 2015

27

Softs and Metals

June 2015

15-Jan-2010

03-Jul-2015

25-Oct-2013

03-Jul-2015

Metals

28

Softs and Metals

June 2015

29

Softs and Metals

June 2015

Clearing Code

CME Globex Code

30

Softs and Metals

June 2015

Commodity Code ZNC

31

Softs and Metals

June 2015

Selenium AAGTD00

Finance

June 2015 32

Finance

33

Finance

June 2015

34

Finance

June 2015

35

Finance

June 2015

36

Finance

June 2015

Weather and Em

issions

June 2015

Weather and Em

issions

37

38

Weather and Em

issions

June 2015

39

Other

June 2015

40

Other

June 2015

June 2015 41

42

June 2015

43

June 2015

44

June 2015

45

June 2015

46

June 2015

47

June 2015

48

June 2015

49

June 2015

(tCO2MWh) from 2008

Monthly M

arket Analysis

June 2015 50

Monthly M

51

Monthly M

arket Analysis

June 2015

52

Monthly M

arket Analysis

June 2015

53

Monthly M

arket Analysis

June 2015

54

Monthly M

arket Analysis

June 2015

55

Monthly M

arket Analysis

June 2015

56

Monthly M

arket Analysis

June 2015

57

Monthly M

arket Analysis

June 2015

In Depth

58

June 2015

59

In Depth

June 2015

60

In Depth

June 2015

61

In Depth

June 2015

62

In Depth

June 2015

63

In Depth

June 2015

In Depth

64

Indepth
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Tesla and the Shift in Power · 2019. 3. 26. · Tesla and the Shift in Power: Part 2 How Powerpack...

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