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


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