Best Practices for Energy Price Indices © Copyright 2003, CCRO. All rights reserved. 20 16:30 – 18:00 Be available to receive and respond to questions and inquiries from index developers. If errors are found, submit revised Day 1 transaction data By End of Business Day 3 Pull officially confirmed and reviewed Day 1 transaction data from deal-capture system and review. If errors of omission and commission are material, resubmit Day 1 transaction data Estimate index value using own admissible Day 1 transaction data and applicable index methodology. Compare result with the published index value. If differences are material, submit challenge to published index in writing. If there are other serious grounds for questioning the published Day 1 index value, submit written challenge to index developer. Until End of Business Day 5 Be available to receive and respond to questions and inquiries from index developer INDEX DEVELOPER Business Day 1 By 16:30 Receive Day 1 transaction data from data providers 16:30 – 18:00 Review data and resolve potential issues with data providers 18:00 – 19:00 Calculate index using Day 1 transaction data Business Day 2 06:00 Publish index based on Day 1 transaction data By End of Business Day 3 Receive challenges and corrected Day 1 transaction data from data providers By End of Business Day 5 Review challenges and resubmitted Day 1 transaction data. Recalculate index based on new information. Revise index if differences between previously published index values and recalculated index are material. Communicate results to data providers and index users