The MAGI gas index for November 2012 is 28.5033 €/MWh. Published for the first time in August in co-operation with REF-E and TFS Energy, MAGI is calculated as a 70% weighting of all confirmed PSV deals and a 30% weighting of GeEO’s average month ahead PSV price assessment. The transaction component of MAGI of 28.4637 €/MWh, equivalent to GeEO’s IMST indices, was calculated as the weighted average of 41transactions representing 1,440 MW of November gas.
At Baumgarten, 45 reported deals representing 1,370 MW of November gas produced a transaction based index (IMST) of 27.1466 €/MWh. Combined with a similar IMSQ value, the 70/30 weighting of the transaction and quotation indices of
27.1300 €/MWh was at a discount of less than
1.5 €/MWh to the MAGI index.
Italian month ahead power prices fell from October as a record 212 trades representing 1,470 MW of baseload November power produced a transaction based index (IMST) of 70.5240 €/MWh. 30 MW was executed on Borsa Italiana’s Idex futures market and
80 MW was executed on GME’s MTE platform.
The implied month ahead spark spread based on the 70/30 weighting of the transaction and quotation based power indices less the cost of PSV gas at the MAGI index price was
12.5086 €/MWh. This compares to a GR04 spark spread of -14.9009 €/MWh. This month’s quotation based indices and the assessment component of the MAGI index represent the average of the bids and offers published for November in the 23 daily issues of GeEO published in October.
|Total volume (in MW) for power and gas (left hand axis) and number of transactions (right hand axis):|