HELSINKI, May 14, 2021 (PIX Bioenergy and Wood Indices) – Fastmarkets FOEX is inviting feedback from the industry on the pricing methodologies for its PIX Forest Biomass Finland price indices, as part of its annual methodology review process.

This consultation, which is open until June 11, 2021, seeks to ensure that our methodologies continue to reflect the physical market under indexation, in compliance with the International Organization of Securities Commissions (IOSCO) principles for Price Reporting Agencies (PRAs). This includes all elements of our pricing process, our price specifications and publication frequency.

Fastmarkets FOEX proposes the following changes to the current index specifications:

Change the Statistics Finland’s Fuel classification 2019 to its Fuel Classification 2021, as follows:

• Class 3112 Chips from roundwood (includes both classes a and b) to Class 21.10.20 (includes both classes 21.10.21 and 21.10.22)
• Class 3113 Forest residue chips to Class 21.10.30
• Class 3114 Hog fuel from stumps (previously stump wood chips) to class 21.10.40
• Class 3121 Bark to Class 21.20.10
• Class 3122 Saw dust to Class 21.20.20
• Class 21.10.20 (previously 3112) is still encouraged to be reported separately as pruned or unpruned stem chips.

Please find the current methodology for the FOEX PIX Forest Biomass Finland price indices here.

Please send responses in writing, preferably in electronic format, to the following address: pricing.foex@fastmarkets.com. Please add the respective subject heading "PIX Forest Biomass Finland annual methodology review”.

Please specify whether your response is confidential. Opinions offered in confidential responses may be referenced but will not be attributed in any way.

Fastmarkets will publish the outcome of this methodology review by June 24, 2021, on Fastmarkets FOEX website under Pricing Notices, including a summary of the feedback with the exception of those marked as confidential. Any proposals to make material changes, discontinue or launch prices will involve a separate market consultation, the length of which will depend on how substantial the change is.