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ICE Futures U.S.

CAISO NP-15 Day-Ahead Off-Peak Daily Fixed Price Future

Description

A daily cash settled Exchange Futures Contract based upon the mathematical average of 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
Trading Screen Hub Name
NP15 DA Off-Peak
Contract Symbol
UNP
Settlement Method
Cash settlement
Contract Size
25 MWh
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 365 consecutive days.
Last Trading Day
The Business Day prior to the Contract Period
Final Settlement
Reference Price A
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 day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price
Average of LMPs for all hours ending 0100-0600, 2300-2400 PPT
d) Ref Price A - Pricing calendar
CAISO
e) Ref Price A - Delivery Date
Contract Period
Final Payment Date
The fifth Clearing Organization business day following the Last Trading Day
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 WestOPDaily
Physical
UNP
Logical
UNP
GMI (FC)
UN
ION A.C.N.
OU52
Symbol Code
UNP