- Trading Screen Product Name
- UK Base Electricity Futures (Gregorian)
- Trading Screen Hub Name
- UK Grid
- Contract Symbol
UBL
- Contract Series
Up to 156 consecutive month contracts, or as otherwise determined
by the Exchange. Quarterly, seasonal, calendar, and any period of
consecutive monthly contracts can be registered as a strip.
- Contract Size
1 MW x days in the contract period (i.e. month, quarter, or season)
x 23, 24 or 25 hours (summer/winter time)
- Unit of Trading
1 MW
- Minimum Trading Size
Futures: 3 lots = 3 MWh per hour per day
Block Order: 1 lots = 1 MWh per hour per day
- Trading Price Quotation
One pence (£0.01) per MWh
- Settlement Price Quotation
One pence (£0.01) per MWh
- Price Quotation
pence per MWh (£0.01/MWh)
- Minimum Price Fluctuation
One pence (£0.01) per MWh
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Fluctuation
- Last Trading Day
Trading will cease at the close of business 2 Business Days prior
to the start of the delivery period.
- Settlement Method
Pysical Delivery
- End of Day Settlement Price
The weighted average price of trades during a ten-minute settlement
period from 16:05:00 to 16:15:00, London Local Time. If there is
low liquidity during this time, Quoted Settlement Prices (QSPs)
will be used to establish the settlement price
- Exchange Rulebook
- MIC Code
- IFEU
- Clearing Venues
- ICEU