March 2015   Volume 5 | Issue 3
New Reports Research On The Horizon Information
> EOX Live
> Heren
> PJK International
> TFS Tradition
> Treasury Direct
> Lower for Longer: A New Normal for U.S. Natural Gas Prices
> Scheduled Market Changes
> Completed Market Changes
> Contact Us
> Feedback

Morningstar is pleased to announce the availability of the following data sets. Please note our new Commodities Research section. To add any optional offering to your Morningstar data feed, please contact your Sales Director or email

New Reports - Marketplace


Morningstar now offers the following from BGC:
  Daily REC Bulletin
  ERCOT Marks

Feed: BGC_DailyRECBulletin
Ex. Key: CA RPS Bucket 1 CY 2014
Granularity: Daily

Feed: BGC_ErcotMarks
Ex. Key: Location: HOUSTON/NORTH
Granularity: Daily

EOX Live

Morningstar now offers the following from EOX Live:
  Natural Gas Volatilities
  Power Correlations
  Power Volatilities

Feed: Eoxlive_NaturalGasVolsVols
Ex. Key: 1/1/2016 ATM - $1.00 AECO CALL
Granularity: Daily

Feed: Eoxlive_Powercorrelations
Ex. Key: ERCOT_Houston
Granularity: Daily

Feed: Eoxlive_PowerVols
Ex. Key: CAISO_NP_15
Granularity: Daily

TFS Tradition

Morningstar now offers the following from TFS Tradition:
  West Gas Prices

Feed: TFS_WestGasPrices
Ex. Key: Product: AECO
Granularity: Daily

New Reports - Commodity DataServer and Marketplace


Morningstar now offers the following from EPEX:
  Spot Intraday Auction

Ex. Description: EPEX Spot Intraday Auction, 15 Minute Values, Germany
Path: TopRelation:Energy:EuropeanElectricity:DEUElectricity:Eex:IntraDay:
Granularity: Sub Hourly

PJK International

Morningstar now offers the following from PJK International:
  ARA Freight Rates Standard Deviation

Ex. Description: PJK International, Antwerp - Amsterdam, Gasoil/Gasoline, Euro/Pmton
Path: TopRelation:Energy:PJKInternational:Freight:Ara:
Granularity: Daily

Treasury Direct

Morningstar now offers the following from Treasury Direct:
  Bond Announcements and Results
  Note Announcements and Results
  Bill Announcements and Results
  FRN Announcements and Results
  TIPS Announcements and Results

MP Feed: TreasuryDirect_BondResults
Ex. Key: 912810RJ9
Granularity: Daily

DataServer Symbol: TTD.912810RJ9.BOND.29YEAR.10MONTH
Description: Treasury Direct, 29-Year, 10-Month, Bond, 3%
Path: TopRelation:Cusip:FixedIncome:UnitedStates:TreasuryDirect:AuctionResults:Bond:
Granularity: Daily

Commodities Research

Lower for Longer: A New Normal for U.S. Natural Gas Prices

In the face of continued growth of low-cost supply, we are reducing our midcycle price estimate for U.S. natural gas by 25%, to $4 per thousand cubic feet. While demand tailwinds from exports and industrial consumption will help balance the domestic gas market, ongoing cost pressures from efficiency gains and excess services capacity as well as the crowding out of higher-cost production by world-class resources like the Marcellus Shale and associated volumes from oil-rich areas like the Eagle Ford and Permian justify our revised outlook. Even under our lower price deck, however, undervalued, cost-advantaged investment opportunities remain. Our top picks among natural gas-focused E&Ps are Cabot Oil & Gas, Range Resources, Antero Resources, and Southwestern Energy.

For more information about Morningstar Research or to recieve the full report please email

On the Horizon

Scheduled Market Changes

Morningstar is planning on completing the following maintenance items:

Source: Heren & Powernext
Description: The 2 French power hubs Peg Sud and Peg TIGF will be replaced with a common market area Trading Region South
Live Date: March 31, 2015

Source: ICAP
Description: ICAP File Changes
Live Date: April 17, 2015

Source: NGX
Description: NGX Index Price Updates
Live Date: May 1, 2015

Please visit our website to learn more about these market changes.

Completed Market Changes

Morningstar has successfully completed the following maintenance items:
  MISO ELMP implementation
  Platts FTP Upgrade

Please visit our website to learn more about these market changes.

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