FEX $300 Strike 5MS Cap Power Quarterly Futures
Quarterly cash settled futures for New South Wales, Victoria, South Australia, and Queensland electricity, against the Australian Energy Market Operator (AEMO) 5min price above $300/MWh.[1]
| FEX $300 Strike 5MS Cap Power Quarterly Futures | |||
|---|---|---|---|
| Contract Code | Quarters
FN - NSW $300 Strike 5MS Cap Power Quarterly Futures FV - VIC $300 Strike 5MS Cap Power Quarterly Futures FQ - QLD $300 Strike 5MS Cap Power Quarterly Futures FS - SA $300 Strike 5MS Cap Power Quarterly Futures 4qtr Strips QN - NSW $300 Strike 5MS Cap Power 4qtr Strip Futures QV - VIC $300 Strike 5MS Cap Power 4qtr Strip Futures QQ - QLD $300 Strike 5MS Cap Power 4qtr Strip Futures QS - SA $300 Strike Cap 5MS Power 4qtr Strip Futures | ||
| Contract Type | Cash Settled Futures Contract | ||
| Underlying | New South Wales, Victoria, South Australia, and Queensland electricity, as administrated by the Australian Energy Market Operator (AEMO) | ||
| Contract Unit | 1 Megawatt of electricity per hour (MWh) across all periods of the contract quarter. e.g.
Q1 - 2160 MWh or 2184 MWh each leap year Q2 - 2184MWh Q3 - 2208MWh Q4 - 2208MWh | ||
| Contract Currency | AUD per megawatt hour (A$/MWh) | ||
| Minimum Price Increments Tick Size | $0.01/MWh
$21.60 per contract for a 2160hr contract $21.84 per contract for a 2184hr contract $22.08 per contract for a 2208hr contract | ||
| Contract Months | Quarterly up to 4 years or 16qtrs out
Mar, Jun, Sep, Dec 4qtr Calendar (Dec) and Financial (Jun) Strips | ||
| Trading Hours | Day; 10.00am - 4.00pm | ||
| Last Trade Date | The last Business day of the Contract quarter | ||
| Settlement Date | The fourth Business Day after the Last Trade Date of the contract quarter | ||
| Cash Settlement | The Cash Settlement Price is calculated as (a - (300 x b))/c, where:
a = the sum of all AEMO base load half hourly spot prices for the region in the Contract Quarter greater than $300.00 b = the total number of AEMO base load half hour spot prices for the region in the Contract Quarter greater than $300.00 c = the total number of base load half hour spot prices for the region in the Contract Quarter Rounded to the nearest cent. A provisional Cash Settlement Price will be declared on the first Business Day after Last Trade Date of the Contract and shall be later confirmed on the third Business Day after Last Trade Date. | ||