Argus North American Heat Rate Curves
Overview
When participating in the energy commodities markets, you need the most accurate forward prices from a source without distortion or bias. Our clients act with confidence because our forward curves are built from unbiased, industry-specific methodologies with undistorted, fair market values. You can trust Argus' forward curves to provide deep market insights and data to support precision in your risk management and bottom line.
Key features
Daily electricity heat rates curves
More than 70 major electricity hubs as a valued function of CME Henry Hub Natural Gas Futures.
Heat rate curves
Forward price curves for standard On Peak, Off Peak and Round-the-Clock (RTC) forward contracts.
Quotes relative to Nymex
Heat rate curves are quoted relative to Nymex natural gas plus over-the-counter (OTC) locations.
Robust methodology
Independent and transparent market-appropriate methodology.
Delivery options
Receive our forward curve data via data feed, third-party channel partners, our client portal or via email.
Customers that benefit
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Risk managers
Risk managers use our forward curves data for unbiased, third-party curve validation against counterparties and internal valuations.
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Traders
Traders rely on our extensive historical analysis when determining locational and temporal spread relationships and use prior-day curves on a daily basis as a reference when entering the market the following morning.
Product specifications
Our coverage of daily electricity forward curve assessments spans more than 70 locations, including all the major electricity hubs and relevant trading locations in North America.
- ERCOT
- PJM
- NEPOOL
- NYISO
- WSPP
- MISO
- ISO-NE
- FRCC
- SERC
- VACAR
- SPP
- Nymex HR Mid Market
- Nymex HR Bid Offers
- Other NG HR Mid Market
- Other NG HR Bid Offers
- Excel format
- Excel add-in
- FTP – CSV file
- API – CSV file
- Argus Direct client portal
- Argus Date Science Studio
- Third party channel partners
Argus forward curves are a proven, reliable tool for analytical and risk-management processes, including:
- Mark-to-market (MTM) accounting
- Value-at-risk (VaR)
- Potential future exposure (PFE)
- Deal valuation
- Regression analysis
- Scenario analysis
- Valuing option premiums associated with forward crude contracts
Key price assessments
Argus prices are recognised by the market as trusted and reliable indicators of the real market value. Explore some of our most widely used and relevant price assessments.
Argus Brent Sour
An index based on the lowest priced of five fob traded North Sea grades — Johan Sverdrup, Grane, Flotta Gold, Brent and Forties.
Nymex roll
The commonly-used calculation to determine the physical price of crude at Cushing.
Argus WTI Midland
The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.
Argus WTI Houston
The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.
Argus Western Canadian Select
Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.
Argus Sour Crude Index™ (ASCI™)
The Argus Sour Crude Index™ reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.
Argus North Sea Dated
The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.
Argus Mars
The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.
Argus LLS
Argus LLS oil index reflects the light sweet crude prices for St. James's terminals in the US Gulf Coast.
Argus ESPO Blend
Pricing for light crude shipped through the East Siberia-Pacific Ocean
Argus des Shandong
Argus des Shandong reflects five oil spot markets in key regions for China oil imports.
Argus Bakken
The Bakken oil price represents light sweet crude produced in North Dakota and Montana. Bakken spot prices, key benchmarks such as Nymex WTI and Ice Brent and more.
Argus AGS
Argus AGS oil index examines the US Gulf Coast trade, seaborne and coastal refineries as well as the WTI Midland light sweet crude oil prices.
Argus WTI diff to CMA
The ideal adjustment factor to calculate the price of WTI at Cushing.
Argus US HRC
Hot-rolled coil (HRC) is the predominant finished steel form in the US domestic and global steel industry, and the foundation for many steel-based industrial products.
Argus cobalt
Argus offers a range of global cobalt price assessments, most of which are published twice weekly to adequately reflect price changes and liquidity.
Argus Brent Sour
An index based on the lowest priced of five fob traded North Sea grades — Johan Sverdrup, Grane, Flotta Gold, Brent and Forties.
Nymex roll
The commonly-used calculation to determine the physical price of crude at Cushing.
Argus WTI Midland
The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.
Argus WTI Houston
The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.
Argus Western Canadian Select
Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.
Argus Sour Crude Index™ (ASCI™)
The Argus Sour Crude Index™ reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.
Argus North Sea Dated
The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.
Argus Mars
The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.
Argus LLS
Argus LLS oil index reflects the light sweet crude prices for St. James's terminals in the US Gulf Coast.
Argus ESPO Blend
Pricing for light crude shipped through the East Siberia-Pacific Ocean
Argus des Shandong
Argus des Shandong reflects five oil spot markets in key regions for China oil imports.
Argus Bakken
The Bakken oil price represents light sweet crude produced in North Dakota and Montana. Bakken spot prices, key benchmarks such as Nymex WTI and Ice Brent and more.
Argus AGS
Argus AGS oil index examines the US Gulf Coast trade, seaborne and coastal refineries as well as the WTI Midland light sweet crude oil prices.
Argus WTI diff to CMA
The ideal adjustment factor to calculate the price of WTI at Cushing.
Argus US HRC
Hot-rolled coil (HRC) is the predominant finished steel form in the US domestic and global steel industry, and the foundation for many steel-based industrial products.
Argus cobalt
Argus offers a range of global cobalt price assessments, most of which are published twice weekly to adequately reflect price changes and liquidity.
Argus Brent Sour
An index based on the lowest priced of five fob traded North Sea grades — Johan Sverdrup, Grane, Flotta Gold, Brent and Forties.
Nymex roll
The commonly-used calculation to determine the physical price of crude at Cushing.
Argus WTI Midland
The Argus WTI Midland price is a volume-weighted average of spot trades. The oil price is a differential to Nymex light sweet crude futures settlement.
Argus WTI Houston
The light sweet crude oil price on the US Gulf coast is based on the Argus Houston WTI price, which is the most transparent WTI price indicator.
Argus Western Canadian Select
Argus Western Canadian Select examines Cold Lake and Western Canadian Select (WCS oil prices), the most active spots on the US Gulf Coast for heavy crude oil streams.
Argus Sour Crude Index™ (ASCI™)
The Argus Sour Crude Index™ reflects medium sour crude prices at the US Gulf Coast trading hub, mainly used by Saudi Arabia, Iraq, and Kuwait to price oil exports to the US.
Argus North Sea Dated
The Argus North Sea Dated assessment includes Brent oil prices and derivatives. In May 2023, Argus introduced WTI prices for Midland in the Brent basket and it has become a market standard.
Argus Mars
The Argus Mars is a key crude benchmark and reflects oil spot prices for the US Gulf medium sour crude blend arriving on the Mars pipeline.
Argus LLS
Argus LLS oil index reflects the light sweet crude prices for St. James's terminals in the US Gulf Coast.
Argus ESPO Blend
Pricing for light crude shipped through the East Siberia-Pacific Ocean
Argus des Shandong
Argus des Shandong reflects five oil spot markets in key regions for China oil imports.
Argus Bakken
The Bakken oil price represents light sweet crude produced in North Dakota and Montana. Bakken spot prices, key benchmarks such as Nymex WTI and Ice Brent and more.
Argus AGS
Argus AGS oil index examines the US Gulf Coast trade, seaborne and coastal refineries as well as the WTI Midland light sweet crude oil prices.
Argus WTI diff to CMA
The ideal adjustment factor to calculate the price of WTI at Cushing.
Argus US HRC
Hot-rolled coil (HRC) is the predominant finished steel form in the US domestic and global steel industry, and the foundation for many steel-based industrial products.
Argus cobalt
Argus offers a range of global cobalt price assessments, most of which are published twice weekly to adequately reflect price changes and liquidity.
Related documents
Methodology
Get the most up-to-date guide to the methodology used to ensure the prices published in the Argus North American Heat Rate Curves are free from distortion and representative of spot market values.
Forward curves primer
An introduction to forward curves – what are they, how are they produced and why do they matter.