- Trading Screen Product Name
- UK Peak Electricity Futures (Gregorian)
- Trading Screen Hub Name
- UK Grid
- Contract Symbol
UPL
- Contract Series
Up to 156 consecutive month contracts, or as otherwise determined
by the Exchange. Quarterly, seasonal, calendar, and any period of
consecutive monthly contracts can be registered as a strip.
- Contract Size
1 MW x week days in the contract period (i.e. month, quarter or
season) x 12 hours
- Unit of Trading
1 MW
- Minimum Trading Size
"Futures: 3 lots = 3 MW
Block Order: 1 lot = 1 MW"
- Price Quotation
1 pence per MWh (£0.01/MWh)
- Minimum Price Fluctuation
1 pence per MWh (£0.01/MWh)
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Fluctuation
- Last Trading Day
Trading will cease at the close of business 2 Business Days prior
to the start of the delivery period.
- Settlement Method
Pysical Delivery.
- End of Day Settlement Price
The weighted average price of trades during a ten-minute settlement
period from 16:05:00 to 16:15:00, London Local Time. If there is
low liquidity during this time, Quoted Settlement Prices (QSPs)
will be used to establish the settlement price.
- Delivery Terms
Delivery is fulfilled by the debit of electricity from the Energy
Account of one party and the credit of electricity to the Energy
Account of the other party for every half hour settlement period of
the delivery month. Delivery is effected by the submission (and
acceptance with no subsequent rejection) of Energy Contract Volume
Notifications by an Energy Contract Volume Notification Agent to an
Energy Contract Volume Aggregation Agent on behalf of the two
delivery parties. A Clearing Member, as defined in the ICE Clear
Europe Clearing Rules, with a contract open at cessation of trading
for that month must deliver the number of lots open at a rate of 1
MW during each settlement period of the first and each subsequent
day of the delivery month.
- Exchange Rulebook
- MIC Code
- IFEU
- Clearing Venues
- ICEU