- 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
- Delivery/Settlement Terms
Delivery is fulfilled by the debit of electricity from the Energy
Account of one party and the credit of electricity to the Energy
Account of the other party for every half hour settlement period of
the delivery month. Delivery is effected by the submission (and
acceptance with no subsequent rejection) of Energy Contract Volume
Notifications by an Energy Contract Volume Notification Agent to an
Energy Contract Volume Aggregation Agent on behalf of the two
delivery parties. A Clearing Member, as defined in the ICE Clear
Europe Clearing Rules, with a contract open at cessation of trading
for that month must deliver the number of lots open at a rate of 1
MW during each settlement period of the first and each subsequent
day of the delivery month.
- Exchange Rulebook
- MIC Code
- IFEU
- Clearing Venues
- ICEU