At key points like the Henry Hub, and El Paso Natural Gas, and several others, the price survey team collects 1 billion cf or more for bid week. At other points, 200-700 million mmBtu is likely. For companies pricing baseload gas off Gas Daily Monthly Contract Indexes, in those isolated instances when no baseload data is available and no index is published, we recommend that subscribers use the Monthly Midpoint Average to price gas. The Midpoint Averages are published in the Gas Daily Price Guide for the month following the month that is to be priced. For example, the midpoint average for January for the Henry Hub would appear the in February issue of the Price Guide.
Shippers can now nominate more easily on the last day of the month for the first of the next month.
For example, gas may be nominated on March 31 to flow April 1, for either one day only or for the entire month. The survey displaying swing prices for the first of the month is published on the first business day of the month. This is a change from previously published recommendations for pricing swing gas, and it was effective October 1, 1997. For weekend pricing where the weekend includes a transition from one month to another, Gas Daily will post two price surveys in the first publication of the new month. A volume-weighted average cost of gas is calculated first by multiplying the price of a package of gas by its volume for every deal reported into a pipeline listing to reach a total dollar amount.