Base Load Electricity Futures
1 Megawatt of electrical energy per hour based on a base load profile. Where the base load profile is defined as the National Electricity Market (NEM) base load period from 00:00 hours Monday to 24:00 hours Sunday over the duration of the Contract Quarter.
These contract specifications must be read in conjunction with the ASX 24 Operating Rules and ASIC Market Integrity Rules (ASX 24 Market). In addition, please see the Energy Market Policy for further details.
Electrical energy bought and sold in the New South Wales, Victorian, South Australian and Queensland wholesale pool markets conducted by the Australian Energy Market Operator (AEMO).
1 Megawatt of electrical energy per hour based on a base load profile. Where the base load profile is defined as the National Electricity Market (NEM) base load period from 00:00 hours Monday to 24:00 hours Sunday over the duration of the Contract Quarter. For example: the size (in Megawatt hours) of each contract quarter will vary depending on the number of days and base load hours within the quarter, as follows:
- A 90-day contract quarter will equate to 2,160 Megawatt hours;
- A 91-day contract quarter will equate to 2,184 Megawatt hours;
- A 92-day contract quarter will equate to 2,208 Megawatt hours.
Prices are quoted in Australian dollars per Megawatt hour.
March, June, September, December, up to 4 and 1/4 years or 16 - 17 quarters out.
BN - NSW Base-load Electricity Futures
BV - VIC Base-load Electricity Futures
BQ - QLD Base-load Electricity Futures
BS - SA Base-load Electricity Futures
HN - NSW Base-load Electricity Strip Products
HV - VIC Base-load Electricity Strip Products
HQ - QLD Base-load Electricity Strip Products
HS - SA Base-load Electricity Strip Products
Minimum price fluctuations of $0.05 per Megawatt hour.
Note: Cal and Fin Year Strip Products have a minimum price fluctuation of $0.01, with the ability to allocate futures contracts resulting from Cal and Fin Year Strip Products to $0.01 increments.
Tick size under a $0.05/MWh price fluctuation:
- A 2,160 MWh contract quarter has a tick size of $108.00;
- A 2,184 MWh contract quarter has a tick size of $109.20;
- A 2,208 MWh contract quarter has a tick size of $110.40.
The last Business Day of the Contract Quarter. On this day, trading terminates at 4:00pm.
9:00am - 4:00pm*
The Cash Settlement Day of the Contract shall be the fourth Business Day after the expiry of the Contract Quarter.
The Cash Settlement Price is calculated by taking the arithmetic average of the NEM final base load spot prices on a half hourly basis, rounded to two decimal places over the Contract Quarter. A Provisional Cash Settlement Price will be declared on the first Business Day after expiry of the Contract and shall be later confirmed on the third Business Day after expiry.
Upon the fourth Business Day after the expiry of the Contract, the Contract will be cash settled at the settlement price confirmed on the third business day of the Contract Quarter. The final settlement price is rounded to the nearest cent, as adjusted by AEMO and provided to ASX. All bought and sold contracts in existence as at the close of trading in the Contract Quarter shall be settled by ASX Clear (Futures) at the Cash Settlement Price.
The Cash Settlement Value is the Cash Settlement Price multiplied by the number of Megawatt hours (MWh) in the underlying Contract Quarter.
* Unless otherwise indicated, all times are Sydney times | Base Hours 2011 - 2015 | PDF, 14Kb |