French Power Indices

Methodology 

The SpOT (Spectron OTC) French power indices are calculated from the volume-weighted average of all Day-ahead Baseload or Peaks transactions executed between 0800-1100 CET for delivery into the French high voltage grid. All times are as determined by Spectron’s in-house atomic clock.

The indices are published at the end of the trading window, at 1100 CET. The Day-ahead indices are for power deliveries on the next working day, so for a Friday the Day-ahead value is for the following Monday. The index day is the delivery day e.g. the index published for 23 November 2006 is based on all the trades executed through Spectron on the 22 November 2006 for delivery on the 23 November 2006.

A Weekend Baseload index is also calculated on a Friday from all Weekend trades concluded during the trading window that day. French bank holidays are treated as individual days separate from the weekend. On the working day before the bank holiday indices will be published for the day of the holiday itself and the next working day that follows it. For example, on the Thursday before Easter four indices will be published from trades concluded that day – for the Friday, the Weekend, the Monday and the Tuesday.

Contingent Methodologies
Should the number of trades executed in the window be:
Five or greater - the index will be calculated using a weighted average of those trades.
Between one and four - the index will continue to be calculated using a weighted average of those trades. However, it will be noted on the index page that the calculation has been based on less than five trades.
Zero - the index shall be derived from the average value of the indices over the previous four working days.

Index out-turns
Monthly index out-turn values, calculated from the average index value over the course of a month, will be published for both indices, as these are commonly used for contract benchmarking.

Amendments
Should there be subsequent changes to the source data used to calculate the indices, then the index shall be recalculated and republished automatically i.e. the index shown within the historical indices tool is the most up to date calculation of the index (amended indices are flagged as such within this file.)