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ICE Futures Europe

UK Base Electricity Future (Gregorian)


Contracts are for physical delivery of Electricity on a continuous baseload basis, i.e. 23:00 - 22:59 LLT Monday - Sunday, through National Grid, the transmissions system operator in the UK. Delivery is made equally each hour throughout the delivery period

Market Specifications

Trading Screen Product Name
UK Base Electricity Futures (Gregorian)
Trading Screen Hub Name
UK Grid
Contract Symbol
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
Clearing Venues

Trading Hours

New York2:00 AM - 12:00 PM
02:00 - 12:00
1:45 AM
London7:00 AM - 5:00 PM
07:00 - 17:00
6:45 AM
Singapore3:00 PM - 1:00 AM
15:00 - 01:00
2:45 PM


Clearing Admin Name
UK Base Greg
Symbol Code