spanish power option pricing hi paul cassim meeting yesterday regarding power options may use capture short term volatility regulatory caps adhered broken attached spreadsheet assist nailing value arbitrary distribution first issue address converting price scenarios average q 2 q 3 swap volatility equivalent achieved fitting normal distribution matches one specified mean standard deviation graph illustrates method numbers discussed yesterday example annualised volatility coming approximately 23 pricing implied volatility pricing regular asian option payoff depends average daily prices spanish power q 2 q 3 valuation using 23 volatility showing 15 3 pta per kwh schedule meeting allow us take forward regards anjam x 35383 spreadsheet