- Trading Screen Product Name
- Italian Power Financial Base Futures
- Trading Screen Hub Name
- Italian Grid
- Contract Symbol
IPB
- 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 per day in the contract period (i.e. month, quarter or year) x
23, 24 or 25 hours (summer or winter time).
- Unit of Trading
1 MW
- Minimum Trading Size
"Futures: 1 lots = 1 MW
Exchange for Physical (EFP): 1 lot = 1 MW
Exchange for Swap (EFS): 1 lot = 1 MW
Block Order: 1 lot = 1 MW "
- Quotation
The contract price is in Euros and Euro cents per MWh.
- Minimum Price Fluctuation
1 Euro Cent per MWh (€0.01/MWh)
- Tick Value
Contract Size x Minimum Trade Size x Minimum Price Flux
- Last Trading Day
"Trading will cease at the close of business one Business Day prior
to the last calendar day of the contract delivery period.
Quarter, season and calendar contracts will cease trading at the
close of business one Business Days prior to the first calendar day
of the quarter, season or calendar year. "
- Settlement Method
Financially Settled
- Exchange Delivery Settlement Price
The cash settlement price of the contract is equal to the
arithmetic mean of the hourly Single National Price (“Prezzo
Unico Nazionale” or “PUN”) between 00:00 (CET)
and 24:00 (CET) for the purchase of electricity in Italy, as
published by Gestore dei Mercati Energetici (“GME”),
for each day throughout the contract period.
- MIC Code
- NDEX
- Clearing Venues
- ICEU