Platts M2MS-Gas

Platts M2MS - Gas is the definitive standard for valuing long and short-term physical and financial gas contracts, specifically designed to meet the needs of the risk management community. Independent, transparent and based upon our exclusive use of IntercontinentalExchange (ICE) settlement data, Platts M2MS - Gas equips you with market-based forward curves and supporting analytical data for 96 trading hubs in North America. This data, along with our extensive spot price history and proprietary quantitative techniques, allows us to provide standardized, granular forward curves for liquid and illiquid trading hubs alike.


  • — Validate internally-generated forward curves
  • — Calculate P&L for your portfolios with confidence
  • — Calculate value-at-risk (VaR) earnings-at-risk (EaR), cash-flow-at-risk (CFaR), or other daily risk management measurement and reporting functions
  • — Model prices, calculate the current value of derivative instruments, forecast trends, and better evaluate physical and financial assets
  • — Perform key portfolio risk management functions including risk disaggregation and decomposition, stress testing, and scenario building
  • — Optimize strategic assets, mergers and acquisitions, and infrastructure investment decisions
  • — Resolve legal or contractual disputes through the provision of standardized and industry-adopted independent valuations, based on a transparent methodology


  • — Published daily: 120-month (10-year) forward curves, based on published settlement prices and supplemented by Platts proprietary models wherever there is less liquid market activity
  • — Published monthly: 240-month (20-year) forward curves, based on the most current regional gas price fundamental forecast models
  • — Published daily: 36-month (3-year) forward heat rates are calculated as the ratio between M2MS-Power/Henry Hub and M2MS-Power/Specified Regional Hub at the same delivery month