ICE Futures Europe

UK Natural Gas (EUR/MWh) Future

UK Natural Gas (EUR/MWh) Future 20755783


Contracts are for physical delivery through the transfer of rights in respect of Natural Gas at the National Balancing Point (NBP) Virtual Trading Point, operated by National Grid, the transmissions system operator in the UK. Delivery is made equally each day throughout the delivery period

Market Specifications

Trading Screen Product Name
UK Natural Gas Futures (EUR/MWh)
Trading Screen Hub Name
Commodity Code
Contract Size
1 MWh of natural gas per hour per day per delivery period (i.e. month, quarter, season or year)Delivery Period

Delivery Period Therms
Feb (non leap year): 28 days = 672 MWh
Feb (leap year): 29 days = 696 MWh
Mar: 31 days minus 1 hr = 743 MWh
Oct: 31 days plus 1 hr = 745 MWh
Jan, May, Jul, Aug, Dec: 31 days = 744MWh
Apr, Jun, Sep, Nov: 30 days = 720 MWh
Unit of Trading
1 MWh of natural gas per hour per day per delivery period.

Traded in multiples of 30 lots.
Delivery/Settlement Terms
Matching Acquiring and Disposing Trade Nominations (buyer from ICEU, seller to ICEU) are input by buyer and seller to National Grid via Gemini before 18:30 on the business day prior to the commencement of the delivery period. Delivery takes place in kilowatt-hours (29.3071 kilowatt hours per therm).

The EDSP will be the Settlement Price on the day the contract expires.
Trading Price Quotation
½ of a Eurocent (€0.005) per MWh
Settlement Price Quotation
½ of a Eurocent (€0.005) per MWh
Minimum Price Fluctuation
½ of a Eurocent (€0.005) per MWh
Fixed Price
The traded price or the previous day’s settlement price.
Floating Price
In respect of daily settlement, the Floating Price will be determined by ICE using price data from a number of sources including spot, forward, and derivative markets for both physical and financial products.
Contract Series
Up to 51-59 consecutive months, up to 6-7 consecutive quarters, up to 6-7 consecutive seasons, up to 4 consecutive years
Last Trading Day
Two business days prior to the start of the delivery period.
Business Days
London Business Days
MIC Code
Clearing Venues

Trading Hours

New York2:00 AM - 12:00 PM
02:00 - 12:00
1:45 AM
London7:00 AM - 5:00 PM
07:00 - 17:00
6:45 AM
Singapore3:00 PM - 1:00 AM
15:00 - 01:00
2:45 PM


Clearing Admin Name
UK Nat Gas EUR
R&N A.C.N.