Dow Jones Newswires announces electricity indexes calculated with hourly data

Dow Jones Palo Verde and Mid-Columbia hourly price indexes offer enhanced data and complement day-ahead indexes

NEW YORK, August 12, 2002 – Dow Jones Newswires announced recently that it is publishing its first two electricity indexes calculated with hourly market price data. The Dow Jones Palo Verde and Mid-Columbia Hourly Price Indexes are the first of several planned hourly indexes.

The new averages were developed to meet market demand for more price information. The Dow Jones Palo Verde Hourly Price Index is based on hour-by-hour transactions that occur at the Palo Verde switchyard in Arizona; the Dow Jones Mid-Columbia Hourly Price Index is an average of transactions from delivery points along the Columbia River in Washington state.

The trading data is supplied by the same market participants contributing to the day-ahead Dow Jones Palo Verde and Mid-Columbia Price Indexes. The new hourly indexes are published the following trading day, Monday-Friday, at 11:00 a.m. (Eastern).

“The Dow Jones Palo Verde and Mid-Columbia Hourly Price Indexes are the latest examples of how our Electricity Index team is always striving to improve the data they provide to the market,” said John Hitchcock, managing director of energy products for Dow Jones Newswires.

“Traders and risk managers will find these indexes essential tools for pricing and hedging contracts.”

Dow Jones Palo Verde and Mid-Columbia Hourly Price Indexes join the expanding family of Dow Jones Electricity Indexes, considered the most reliable and broad-based pricing indexes available in both the U.S. and Europe.

The benchmark indexes are utilized extensively by power producers, marketers and utilities for pricing short- and long-term contracts and associated OTC hedging instruments, as well as by consultants, energy market analysts and regulators for cost assessment and market analysis. The new indexes are included with the real-time Dow Jones Energy Service, and are also available via several market data distributors.

About Dow Jones

Dow Jones Newswires (www.djnewswires.com) provides real-time news for financial professionals in the equities, fixed-income, foreign exchange, and energy markets. The division also offers news for financial firms’ Web sites and Dow Jones Newsletters’ sector-specific content.

In addition to Dow Jones Newswires, Dow Jones & Company (NYSE:DJ; dj.com) publishes The Wall Street Journal and its international and online editions, Barron’s, SmartMoney and the Far Eastern Economic Review magazines and other periodicals, Dow Jones Indexes and the Ottaway group of community newspapers. Dow Jones is co-owner with Reuters Group of Factiva, and with NBC of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.S.

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