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21 Feb 2023 | 10:00 UTC
Platts, part of S&P Global Commodity Insights, has begun publishing daily Power Purchase Agreement indexes on Feb. 21.
The index series are powered by Pexapark PPA price references and will be known as Platts-Pexapark Power Purchase Agreement indexes, or 3Pi.
Platts-Pexapark renewable PPA indices reflect the changing daily value of PPA's for different renewable electricity production technologies in different markets.
PPAs are used extensively for financing and funding renewable power projects, where part or all the expected power produced is sold in advance to offtakers over a period of time.
The agreed price for the offtake forms the basis of the index calculation.
The initial series launch consists of four indices covering onshore wind and solar for Germany and Spain for 10-year tenures.
The indices reflect pay-as-produced (PaP) contracts. The details of the specific daily indices with monthly averages can be found below.
Symbol
Description
APPAA00
Platts-Pexapark Germany Solar 10 Year Pay-as-Produced PPA Index Eur/MWh
APPAA03
Platts-Pexapark Germany Solar 10 Year Pay-as-Produced PPA Index Eur/MWh MAvg
APPAD00
Platts-Pexapark Germany Onshore Wind 10 Year Pay-as-Produced PPA Index Eur/MWh
APPAD03
Platts-Pexapark Germany Onshore Wind 10 Year Pay-as-Produced PPA Index Eur/MWh MAvg
APPAY00
Platts-Pexapark Spain Solar 10 Year Pay-as-Produced PPA Index Eur/MWh
APPAY03
Platts-Pexapark Spain Solar 10 Year Pay-as-Produced PPA Index Eur/MWh MAvg
APPIB00
Platts-Pexapark Spain Onshore Wind 10 Year Pay-as-Produced PPA Index Eur/MWh
APPIB03
Platts-Pexapark Spain Onshore Wind 10 Year Pay-as-Produced PPA Index Eur/MWh MAvg
Each index is calculated daily using Pexapark's PPA reference pricing models, which are regularly calibrated against market transacted PPA prices.
Pexapark pay-as-produced PPA price references takes into consideration forward power prices, production volumes and price capture factors.
The indices are derived values in Euro per megawatt hour (Eur/MWh), reflecting a fixed price for an intermittent quantity of electricity that gets produced by the renewable project.
3Pi indices are published on Platts Dimensions Pro (PDP) and fixed page PEP0101 and updated between 0730 GMT and 0800 GMT every working day in the UK.
Monthly averages are published on Platts Dimensions Pro and fixed page PEP0102 every month. They are also published in European Power Daily.
For queries or comments, please contact power@spglobal.com and pricegroup@spglobal.com .
For written comments, please provide a clear indication if comments are not intended for publication by Platts for public viewing.