GERMAN POWER MONTHLY FUTURES
Characteristic |
Description |
Underlying |
Electricity |
Trading hours |
9:00 am - 5:40 pm |
Quotations |
Power futures contracts are quoted in €/MWh. |
Delivery period |
Calendar month |
Delivery rate |
1 MegaWatt (MW) |
Volume |
Number of MWh that are the subject of the contract, which is equal to the number of hours included in the delivery period for baseload futures and the number of hours between 08:00 and 20:00 Monday to Friday in the delivery period for peakload futures. |
Contract value |
The value of the contract is determined by the product of the futures price and of its volume |
Tick |
0.01 €/MWh |
Traded contracts |
Next three calendar months |
Last trading day |
Last trading day before the beginning of the delivery period. |
Daily closing price |
The daily closing price is established by Cassa di Compensazione e Garanzia. |
Settlement |
Settlement is paid in cash by “Cassa di Compensazione e Garanzia” on the first “CC&G open day” following the last day of the delivery period. If the last day of the delivery period is not an open day for the market, settlement is made on the second “CC&G open day” following the last day of the delivery period. |
Settlement price |
The settlement price of the contract shall be equal to the arithmetic mean of the prices of the German-Austrian zone in the delivery month for baseload contracts, while it shall be equal to the arithmetic mean the prices of the German-Austrian zone between 08:00 and 20:00 Monday to Friday during the delivery month for peakload contracts. |
Negotiable strategies |
Location spread |