Exclusive Publisher of ICE-driven Forward Curves

Meeting the specific needs of the risk management community, Platts established a definitive standard for valuing short and long-term physical and financial gas contracts with Platts M2M-Gas. Now, Platts provides extended forward tenors (120-month/10-year delivered daily), new regional packages, and additional analytical data with the enhanced Platts M2MS-Gas.

The latest generation of Platts Commodity Risk Solutions designed to help you manage energy price risk, Platts M2MS-Gas is independently and transparently produced, and provides market-based forward curves and supporting analytical data for 96 key trading hubs in North America.

Platts M2MS-Gas is published based upon our exclusive use of IntercontinentalExchange (ICE) settlement data. 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.

New Regional Packages

Platts M2MS-Gas offers curves for the 97 gas hubs in five regional packages: Gulf Coast, Mid Continent, Northeast, Rockies and West, and Upper Midwest.

Alternatively, the M2MS-Gas National Package includes a cross-section of 30 North America trading hubs.


Platts M2MS-Gas enables clear, informed valuations and better investment and trading decisions. Underscore your commitment to effective risk management by using the checks and balances of a Platts independent, third-party solution. With it, you can:

  • Validate internally-generated forward curves
  • eCalculate 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

Platts M2MS-Gas uses ICE settlement and activity data RBAC’s forecasting model, GPCM, to produce 10-year monthly forward curves on a daily basis and 20-year curves on a monthly basis. For locations and delivery months where good forward liquidity exists on ICE, our assessments are closely aligned with ICE. For trading locations at which no active forward market exists on ICE, we use statistical analysis to derive forward prices.

Liquid hubs that trade actively on ICE are called “market” hubs. The less liquid locations are called “proxy” hubs.

View M2MS-Gas Coverage Chart

New: Extended Tenors and Features

Platts M2MS-Gas offers the following sets of data for each of the 96 natural gas trading hubs:

  • 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 provided by Bentek, a business of Platts
  • 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

Contact to get started. We will work with you to ensure that your staff has access to the data it needs, distributed in a way that meets your specific needs.

Basic Delivery

Platts M2MS-Gas is delivered via FTP and/or e-mail. The files are also available with your subscription at Forward curves are also available through our delivery partners and through our real-time platform, Platts Natural Gas Alert.

Delivery Partners

Platts partners play a critical role to help ensure your company's success. We've struck cooperative partnerships with the world's foremost data delivery and analysis companies to help you leverage the information we provide and extend its value throughout your organization. Please contact us to find out if you can access Platts M2MS-Gas through your existing vendor's delivery platform.

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