Peak Period Quarter Electricity Futures
1 Megawatt of electrical energy per hour based on a peak-period profile. Where the peak-period profile is defined as the National Electricity Market (NEM) peak-period from 07:00 hours to 22:00 hours Monday to Friday (excluding Public holidays, as determined and published by ASX) over the duration of the Contract Quarter.
Friday 11 Jul 2003
These contract specifications must be read in conjunction with the ASX 24 Operating Rules and the 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 peak-period profile.
Where the peak-period profile is defined as the National Electricity Market
(NEM) peak-period from 07:00 hours to 22:00 hours Monday to Friday (excluding
Public holidays, as determined and published by ASX) 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 peak-load hours within the
quarter, as follows:
- A 59-day contract quarter will equate to 885 Megawatt hours;
- A 60-day contract quarter will equate to 900 Megawatt hours;
- A 61-day contract quarter will equate to 915 Megawatt hours;
- A 62-day contract quarter will equate to 930 Megawatt hours;
- A 63-day contract quarter will equate to 945 Megawatt hours;
- A 64-day contract quarter will equate to 960 Megawatt hours;
- A 65-day contract quarter will equate to 975 Megawatt hours;
- A 66-day contract quarter will equate to 990 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.
PN - NSW Peak-Period Electricity Futures
PV - VIC Peak-Period Electricity Futures
PQ - QLD Peak-Period Electricity Futures
PS - SA Peak-Period Electricity Futures
DN - NSW Peak-Period Electricity Strip Products
DV - VIC Peak-Period Electricity Strip Products
DQ - QLD Peak-Period Electricity Strip Products
DS - SA Peak-Period Electricity Strip Products
Minimum price fluctuations of $0.01 per Megawatt hour.
Tick size under a $0.01/MWh price fluctuation:
- A 885 MWh contract quarter has a tick size of $8.85;
- A 900 MWh contract quarter has a tick size of $9.00;
- A 915 MWh contract quarter has a tick size of $9.15;
- A 930 MWh contract quarter has a tick size of $9.30;
- A 945 MWh contract quarter has a tick size of $9.45;
- A 960 MWh contract quarter has a tick size of $9.60;
- A 975 MWh contract quarter has a tick size of $9.75;
- A 990 MWh contract quarter has a tick size of $9.90.
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 peak-period 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 timesContract Hours and Holiday Schedule
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