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Browse/Update Price Index Values |
  
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Browse/Update Price Index Values |
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There are many methods to update price values within EnergySteward.com . These pricing updates can occur in the following methods.
| • | Automated Import Service (via services available in EnergySteward.com), Platts (Gas Daily, Inside Ferc, etc.), OPIS, etc. |
| • | Spreadsheet 'Time Saver' Imports |
| • | Manual Updates Via This Screen. |
This particular screen provides for manually updating of price values.
Important note: The ordering of the price indices on this screen is governed by the individual entry order numbers which are established when the price index is setup within EnergySteward.com (see the price index general information area for more information on entry order).
When updating prices through the screen above, you are only going to see prices which can be updated. For example, on price indices which have a monthly frequency, you will only be able to update the price value on the first day (day 1) of the given production month. On daily indices you will be able to update each day. On weekly indices, you will be able to update the specific day of the week for the price index value.
When you update price index values, you will be able to update all applicable price points. These price points are specific to the index publication. Some price publications (like Gas Daily from Platts) have 5 different price points, per index, per day (absolute low, common low, midpoint, common high and absolute high). Some price publications (like Inside Ferc from Platts) have a maximum of 3 price points (common low, midpoint and common high). You might even have a custom price/cost publication which only requires a single price point (like an internal cost basis index for risk analysis, or a fuel surcharge rate table which you want to 'externalize' to a price/cost index versus updating multiple deal price formulas every month, etc.).
When you update a price for a specific day (either through this screen OR through any of the other price value update methods mentioned above) then the price index value 'status', for the given date, gets updated. The following indicates the various price index status values:
| • | None - This price status indicates that the price has not yet been updated. |
| • | Actual - This price status indicates that the price, for this day, has specifically been updated with a value. |
| • | Estimated - This price status indicates that a previous day (in the production month) has been specifically updated (with an Actual price) AND that the previous day actual price has propagated as an estimate to this day. This 'propagation of estimates' feature enables the valuing of volumes/etc on deals during the month of flow, as the month of flow progresses. You can set whether or not a price publication enables this propagation within the price publication configuration area. |
Important Note: When you update a price in the system, if that price is associated to any price formulas on deals, it will automatically trigger a recalculation of the deal to revalue it based on the new price. This occurs for those deal volumes which are not yet in a 'Frozen' status.
The following screen is presented once you click the pencil to update a given set of price points for an index:
In the above screen shot (what you see after clicking the pencil (edit button)) you will simply update the labeled price points for the index. Once your updates are complete, you then hit the green check mark to accept OR the red x to cancel. When you click the green check box it will accept your changes on the online screen BUT IT WILL NOT POST THIS UPDATE TO THE DATABASE YET (it will list in RED indicating that it is pending).
You can update several price value line items on the screen (see sample screen shot above), and then when finished you just need to push the 'Post and Save Updates !' button to actually save your changes to the database. At that point, the screen will refresh and the status will reflect 'Actual' (meaning price values have specifically been updated for this day).