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Argus North American Heat Rate Curves

An Argus risk data service, published daily

The Argus Forward Heat Rate Curves service provides a powerful, independent market valuation tool to support risk management and trading decisions in electricity markets across North America. 

Argus uses a wide range of data sources to determine market values for power and natural gas locations and forward periods. For illiquid locations and terms, locational spreads and time spreads are used as the basis for establishing current fair market values.

Markets Covered

Argus produces daily forward heat rates for 46 major electricity hubs valued as a function of CME Henry Hub Natural Gas Futures as well as valued as a function of 15 non-NYMEX natural gas markets.  Non-NYMEX natural gas markets include most of the major North American natural gas trading hubs/markets.

 View list of Electricity and Natural Gas markets used in non-NYMEX Heat Rate Curves

Key Features

  • 46 locations
  • On Peak, Off Peak and Round-the-Clock (“RTC”) 
  • Heat rate curves are quoted relative to Nymex natural gas plus 15 OTC locations
  • Independently produced and transparent methodology
  • Delivery options: Email, FTP data feed and third-party delivery partners, such as LIM and ZEMA

Argus Forward Curves Usages

Curves service is a reliable tool for analytical and risk-management processes, including:

  • Independent evaluations
  • Mark-to-market (“MTM”) validation 
  • Value-at-risk (“VaR”)
  • Potential future exposure (“PFE”)
  • Risk disaggregation
  • In-house forward positions validation

Quick Links

  Learn more about the Argus North American Electricity Forward Curves methodology

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