Morningstar Commodity Data Newsletter

October 2016   Volume 6 | Issue 7
New Sources New Reports Research On The Horizon Information
> Czech National Bank
> ESIOS/RECElectrica
> ICIS Heren
> MISO
> East Coast Refining: Winners and Losers After the Shale Boom
> Marcellus Takeaway Expansions and Impact on Gas Basis
> Behind the Scenes
> Upcoming Events
> Contact Us
> Give us your feedback!

New Sources - Commodity DataServer and Marketplace


Czech National Bank

Morningstar now offers the following feed from Czech National Bank:

 Daily Exchange Rate Fixing

Ex. DW3 Path: TopRelation:ForeignExchange:CzechNationalBank
Ex. DW3 Symbol: CNB.CZK_AUD
Granularity: Daily
Ex. Marketplace Feed: CNB_Koruna_Exchange_
Ex. Marketplace Key: AUD



New Reports - Commodity DataServer and Marketplace


ESIOS/RECElectrica

Morningstar now offers the following 3 feeds from ESIOS/Red Electrica:

 Hourly Spanish Power Data

Ex. DW3 Path: TopRelation:Energy:EuropeanElectricity:ESPElectricity:REDElectrica:P48EnergyBalance:RECHourly
Ex. DW3 Symbol: REC.Hourly
Granularity: Hourly
Ex. Marketplace Feed: ESIOS_RECElectricaESIOSP48Hourly
Ex. Marketplace Key: Andorra Balance

 Daily Spanish Power Data

Ex. DW3 Path: TopRelation:Energy:EuropeanElectricity:ESPElectricity:REDElectrica:P48EnergyBalance:RECDaily
Ex. DW3 Symbol: REC.DAILY
Granularity: Daily
Ex. Marketplace Feed: ESIOS_RECElectricaESIOSP48Daily
Ex. Marketplace Key: Andorra Balance

 Monthly Spanish Power Data

Ex. DW3 Path: TopRelation:Energy:EuropeanElectricity:ESPElectricity:REDElectrica:P48EnergyBalance:RECMonthly
Ex. DW3 Symbol: REC.Monthly
Granularity: Monthly
Ex. Marketplace Feed: ESIOS_RECElectricaESIOSP48Monthly
Ex. Marketplace Key: Andorra Balance



ICIS Heren


Morningstar now offers the following 7 feeds from ICIS Heren:

 European Daily Electricity Market (EDEM) Dutch Power Trades Data

Ex. DW3 Path:
Ex. DW3 Symbol:
Granularity: Daily
Ex. Marketplace Feed: Heren_EDEM_DutchPowerTrades
Ex. Marketplace Key: DutchPower_Trades August '16 Baseload

 European Daily Electricity Market (EDEM) Spanish Power Trades Data

Ex. DW3 Path:
Ex. DW3 Symbol:
Granularity: Daily
Ex. Marketplace Feed: Heren_EDEM_SpanishPowerTrades
Ex. Marketplace Key: SpanishPower_Trades August '16 Baseload

 European Daily Electricity Market (EDEM) French Power Trades Data

Ex. DW3 Path:
Ex. DW3 Symbol:
Granularity: Daily
Ex. Marketplace Feed: Heren_EDEM_FrenchPowerTrades
Ex. Marketplace Key: FrenchPower_Trades August '16 Baseload

 European Daily Electricity Market (EDEM) Italian Power Trades Data

Ex. DW3 Path:
Ex. DW3 Symbol:
Granularity: Daily
Ex. Marketplace Feed: Heren_EDEM_ItalianPowerTrades
Ex. Marketplace Key: ItalianPower_Trades August '16 Baseload

 European Daily Electricity Market (EDEM) Czech Power Trades Data

Ex. DW3 Path:
Ex. DW3 Symbol:
Granularity: Daily
Ex. Marketplace Feed: Heren_EDEM_CzechPowerTrades
Ex. Marketplace Key: CzechPower_Trades August '16 Baseload

 European Daily Electricity Market (EDEM) German Power Trades Data

Ex. DW3 Path:
Ex. DW3 Symbol:
Granularity: Daily
Ex. Marketplace Feed: Heren_EDEM_GermanPowerTrades
Ex. Marketplace Key: GermanPower_Trades August '16 Baseload

 European Daily Electricity Market (EDEM) UK Power Trades Data

Ex. DW3 Path:
Ex. DW3 Symbol:
Granularity: Daily
Ex. Marketplace Feed: Heren_EDEM_UKPowerTrades
Ex. Marketplace Key: UKPowerPower_Trades August '16 Baseload

MISO

Morningstar now offers the following feed from MISO:

 Hourly Local Resource Zone Forecasted and Actual Loan Report

Ex. DW3 Path:
Ex. DW3 Symbol:
Granularity: Hourly
Ex. Marketplace Feed: MISO_LocalResourceZone
Ex. Marketplace Key: ForecastANDActual l Load Report



Commodities Research


East Coast Refining After the Shale Boom

The shale boom breathed new life into East Coast refineries that were under threat of closure by their owners between 2009 and 2012. Now some of those same refineries are under threat again, suffering poor margins as well as expensive compliance with environmental regulations. After enjoying three years of improved margins through access to advantaged domestic crude, delivered by rail from North Dakota, five Atlantic Coast refineries are once again paying international prices for imported crude in 2016 after differentials between domestic benchmark WTI and international equivalent Brent narrowed to $1 per barrel in the wake of the crude price crash and an end to the federal ban on most crude exports.
This note provides highlights from our recently published East Coast Refining Outlook.

To read a sample report, click here

Marcellus Takeaway Expansions and Impact on Gas Basis

Although Marcellus and Utica natural gas producers did see some basis improvement and higher realized prices this summer as a result of warmer weather, increased power demand, and pipeline maintenance, this proved to be fleeting as demand subsided as we moved into the shoulder season. Dominion South cleared at its lowest price ever, $0.31 per million British thermal unit, possibly causing some economic curtailments. Furthermore, pipeline delays from some key Marcellus expansion projects are beginning to be priced into the forward curve. But as longtime market observers will point out, completing these large greenfield expansions to move gas east was always going to be a major risk to the market. As developers iron out routing and environmental impact concerns, drilled but uncompleted wells, or DUCs, will sit uncompleted, which keeps a lid on Marcellus supply zones. On the positive side for producers that already own firm transmission on completed pipelines, demand zones downstream of the Marcellus could see upside in 2017-18 as large combined-cycle power plants come on line in PJM as well as liquefied natural gas export demand from Cove Point and Gulf Coast LNG with firm rights to nominate from the Marcellus and Utica. By 2019, as major pipeline project are completed, we expect the marginal cost of Marcellus plus transport will be setting prices at most gas demand zones in the midcontinent and East Coast.
In this report, we analyze the impact of each pipeline expansion on eastern supply and demand zone gas prices as well as incremental power and LNG demand coming on line downstream.

To read a sample report, click here


Commodities Research: Behind the Scenes

Interested to learn more about the data sources our research group leverages for its analysis?

As seen in our most recent notes above, we are pleased to offer information on the data sources used for the very research pieces you may be receiving. By identifying key publishers and vendors used, we enable you to perform similar research or even validate ours. We also make ourselves available to help you gain access and provide trials for data sets you may not already have access to. Your inquiries are confidential and all inquiries go to Morningstar. Your interest will not be passed along to any third-party without your prior consent.

If you are interested to learn more, please reach out to commoditydata-discovery@morningstar.com



On the Horizon



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