Tenor Convention
Pexapark classifies short-term tenors as 1, 2 & 3 year and long-term tenors as 5 and 10 year. Short-term tenors are only available for selected markets (FI, FR, DE, NL) as we rely on Pexapark's Portfolio & Trading Services desk's activities for market feedback. Long-term PPA prices are backed by other price evidence collected by Pexapark including our monthly polling.
Additionally, because different renewable technologies have different timeline considerations, our PPA prices reflect this. Specifically, we do not publish 5-year offshore price as that market is primarily a long-term market (10 year or more) and therefore we don't get sufficient or reliable price evidence to publish shorter tenors for offshore. Similarly we do not currently publish 15-year PPAs as the market turned to shorter tenors in last couple of years.
Price Update Cadence
Pexapark introduces new Delivery Start (commercial operation date (COD) contracts in December each year.
Pexapark archives expired Delivery Start (commercial operation date (COD) contracts in January each year.
Historic pricing
For all PPA Prices we provide 2 years of history for each contract based on historical power price curves. Two years of history strikes a reasonable balance between providing users with enough history to contextualize current prices while keeping the time difference and COD reasonable (and the accuracy of models acceptable)