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Electricity Curve Calculation Methodology
Definition
Where the contributor assesses the mid rate in the market at around 3:30pm (EST) for a flat 10MW fixed electricity swap. The rates are independent of the contributor’s open position and there is no adjustment for credit.
Collection
The forward price processes are overseen by the AFMA Committee which can approve additional contributors at any time.
Prices are emailed to electricity@afmadata.com.au and electricity@afma.com.au by 5:00 pm on each Sydney Business Day.
A quorum is four (4) contributors for NSW, VIC and QLD. At AFMA’s discretion, the curve for a state may not be published if there are fewer than 4 contributors for NSW, Vic or QLD.
Contributors are to provide prices for the next:
· Four (4) quarters
· Next three (3) full financial years
· Next three (3) full calendar years
for all or some of the 3 states.
Calculation Methodology
For each state/period, the mean and standard deviation of all contributed rates are calculated. Prices more than one standard deviation above or below that mean are eliminated as outliers.
The mean and standard deviation of the remaining rates is then calculated and shown in the output table along with the number accepted. As well, except for the first day of a quarter, the change in the mean from the most recent calculation day is shown.
Availability
· Calculated data is emailed to AFMAdata Electricity subscribers as an Excel spreadsheet (“EOD yyyy mm dd FINAL”)
· All XML record and page data is published to the information vendors as per the Market timetable
AFMA aims to make this data available no later than 5:30pm.
Updated 1st November 2007