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ICE Futures U.S.

CAISO NP-15 Day-Ahead Peak Fixed Price Future

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Description

A monthly cash settled Exchange Futures Contract based upon the mathematical average of daily prices calculated by averaging the peak hourly electricity prices published by CAISO for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name
Peak Futures (25 MW)
Trading Screen Hub Name
NP15 DA
Contract Symbol
NPM
Settlement Method
Cash settlement
Contract Size
1 MW
Currency
USD
Minimum Price Fluctuation
The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Listing Cycle
Up to 86 consecutive monthly Contract Periods
Last Trading Day
The last Business Day of the Contract Period
Final Settlement
Average of Reference Price A Prices
REFERENCE PRICE A
ELECTRICITY-CAISO-NP15-DAY AHEAD
a) Ref Price A - Description
"ELECTRICITY-CAISO-NP15-DAY AHEAD" means that the price for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the Delivery Date, stated in U.S. Dollars, published by the California ISO at http://oasis.caiso.com/mrioasis/logon.do, under the headings "Prices: Locational Marginal Prices (LMP): P/APNode ID: TH_NP15_GEN-APND: Market: DAM" that reports prices effective on that Pricing Date.
b) Ref Price A - Pricing Date
Each Monday through Saturday, excluding NERC holidays, that prices are reported for the Delivery Date
c) Ref Price A - Specified Price
Average of LMPs for all hours ending 0700-2200 PPT
d) Ref Price A - Pricing calendar
CAISO
e) Ref Price A - Delivery Date
Contract Period
Final Payment Date
The fourth Clearing Organization business day following the Last Trading Day Last
MIC Code
IFED
Clearing Venues
ICEU

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London11:50 PM - 10:00 PM*
23:50 - 22:00
11:40 PM
23:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Pwr West Term
Physical
NPM
Logical
NPM
GMI (FC)
NP
ION A.C.N.
N713
Symbol Code
NPM