KashFX UK Base Electricity Futures (Monthly)‏

Contract Specifications

The Electricity futures Contract is a deliverable contract where each Clearing Member with a position open at cessation of trading for a contract month is obliged to make or take delivery of electricity to or from National Grid Transco in accordance with KashFX Futures Europe Regulations.

Description

12 Month contracts, 6 Quarter contracts and 4 Season contracts Minimum of 5 lots of 1 Mwh per lot of electricity per hour per day.

Contract Size

Minimum PrKashFX Flux One tick

Maximum PrKashFX Flux No limit

Trade weighted average during the daily closing period with Quoted Settlement PrKashFXs if low liquidity.

Settlement PrKashFXs

Daily Margin All open contracts are marked-to-market daily.
Position Limits There are no delivery limits.
Exchange for physical (EFP), Exchange for swap (EFS) and Block Trades are available for this contract.

Trading Methods

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 Contract Specifications 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 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.