🏭 IGAS Volatility Index™

March 2026

IGAS AI-Orchestrator™ by RapidKnowHow
Independent Board Intelligence for Industrial Gas Volatility & ROCE Governance

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🔷 Composite Governance Score

March 2026: 60 / 100
Status: Structural Risk Zone

February 2026: 57
Δ +3

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🔷 Sub-Index Breakdown

Sub-Index	March	February	Δ	Status
Energy Shock Intensity	58	57	+1	Amber
PTE Stress	64	62	+2	Red
Merchant Exposure Risk	61	60	+1	Amber
Capital & ROCE Pressure	55	57	−2	Amber

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🔷 What the Index Measures (Simple Explanation)

The IGAS Volatility Index™ measures structural volatility pressure on Industrial Gas operators.

It integrates:

• Energy cost instability
• Pass-through effectiveness (PTE) discipline
• Merchant exposure sensitivity
• Capital & ROCE stress dynamics

The higher the score, the stronger the governance pressure on Free Cash Flow, ROCE, and Market Value.

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🔷 Transmission Overview

Energy + PTE + Merchant + Capital Pressure
↓
Free Cash Flow Sensitivity
↓
ROCE Stability
↓
Market Value Stability

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🔷 Governance Interpretation

Composite 60 indicates continued structural volatility pressure.
Δ +3 reflects incremental transmission stress, primarily driven by PTE deterioration.
Governance relevance increases when composite exceeds 60.

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IGAS AI-Orchestrator™
by RapidKnowHow