CAISO SP-15 Day-Ahead Off-Peak Fixed Price Future6590420

Description

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

Market Specifications

Trading Screen Product Name
Off-Peak Futures (25 MW)
Trading Screen Hub Name
SP15 DA Off-Peak
Commodity Code
OFP
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 110 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-SP15-DAY AHEAD
a) Ref Price A - Description
"ELECTRICITY-CAISO-SP15-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 under the headings "Prices: Report: Reference Prices: P/APNode ID: TH_SP15_GEN-APND" that reports prices effective on that Pricing Date.
b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price
For each Monday through Saturday, excluding NERC Holidays, the average of LMPs for all hours ending 0100-0600, 2300-2400 PPT; for each Sunday and NERC holiday, the average of LMPs for all hours ending 0100-2400 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
MIC Code
IFED
Clearing Venues
ICEU
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Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore8:50 AM - 7:00 AM*
08:50 - 07:00
8:40 AM
08:40

*Next Day

Sunday Pre-Open 5:40 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Pwr West OPTerm
Physical
OFP
Logical
OFP
GMI(FC)
OT
R&N A.C.N.
NI05