The deal was a Q4 08 spark spread, for 30MW of gas on the Dutch TTF hub, against 15MW of Dutch electricity. The price for the gas was €27.20/MWh and the price of the power was €70.95/MWh. The trade was concluded between a London-based financial institution and a Dutch utility.
Standard spark spreads are calculated from the difference between power prices and gas prices, adjusted for fuel efficiency. While Dutch spark spreads have been traded before, this is the first deal in which a price ha