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Description

A monthly cash settled Exchange Futures Contract based upon the mathematical average of daily prices calculated by averaging the flat hourly electricity prices published by IESO specified in Reference Price A.

Market Specifications

Trading Screen Product Name

NGX Fin Off Peak Futures

Trading Screen Hub Name

Ontario - Essa DA

Contract Symbol

OL9

Settlement Method

Cash settlement with monthly true up

Contract Size

1 MW per hour

Currency

CAD

Minimum Price Fluctuation

0.01

Listing Cycle

Up to 96 consecutive monthly contract periods

Last Trading Day

The last business day prior to contract period.

Daily Settlement

Daily settlement will be determined by NGX using price data from a number of sources including, spot, forward and derivative markets for both physical and financial products

Final Settlement

Reference Price A

REFERENCE PRICE A

IESO-Essa-Day Ahead

a) Ref Price A - Description

"Day Ahead ESSA Price" 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 CAD Dollars, published by the IESO at http://reports.ieso.ca/public/PriceHOEPPredispOR/

b) Ref Price A - Pricing Date

Each day that prices are reported for the Delivery Date

c) Ref Price A - Specified Price

in the case of a Sunday on and from which time is to be one hour in advance of eastern standard time (second Sunday in March), the twenty-three (23) hour period starting at 0000 EPT and ending at 2400 EPT (HE0100 to HE2300 inclusive); ii. in the case of a Sunday on and from which time is no longer to be one hour in advance of eastern standard time (first Sunday in November), the twenty-five (25) hour period starting at 0000 EPT and ending at 2400 EPT (HE0100 to HE2500 inclusive); iii. for all other Saturdays and Sundays, the twenty-four (24) hour period starting at 0000 EPT and ending at 2400 EPT (HE0100 to HE2400 inclusive); iv. for each NERC Holiday, the twenty-four (24) hour period starting at 0000 EPT and ending at 2400 EPT (HE0100 to HE2400 inclusive); and v. for each Monday, Tuesday, Wednesday, Thursday and Friday which is not NERC Holiday, the seven (7) hour period starting at 0000 EPT and ending at 0700 EPT (HE0100 to HE0700 inclusive); and the one (1) hour period starting at 2300 EPT and ending at 2400 EPT (HE2400);

d) Ref Price A - Pricing calendar

IESO

e) Ref Price A - Delivery Date

Contract Period

Final Payment Date

6th Business day following the last day of the Contract Expiry Month

MIC Code

NGXC

Clearing Venues

NGXC

Related Products

• ICE NGX AESO Financial Ext Off-Peak Fixed Price
• ICE NGX AESO Financial Ext Off-Peak Fixed Price
• ICE NGX AESO Financial Ext Peak Fixed Price
• ICE NGX AESO Financial Ext Peak Fixed Price
• ICE NGX AESO Financial Flat Fixed Price

Trading Hours

Codes