Spreadsheet: mark_taylor__24729__ClickInTradingProducts
Sheet: IberianPower

IberianPower
Short Description Boxes for Iberian Power |  |  |  |  |  |  |  |  |  |  |  |  |  | FOR OPTIONS
Iberian Power |  | Term |  | Reference Variable |  | [NAME] |  | Currency |  | Units |  | Option Type |  | Option Strike |  | Expiration Date
Financial Swap |  | Day Ahead |  | PMH Time-Weighted |  | Baseload |  | USD |  | MWh |  | European
Financial Call Option |  | Week Ahead |  | [NAME] |  | WDWE Peaks |  | GBP
Financial Put Option |  | 1 month |  | Intraday PMH |  | WDWE Off-Peaks |  | EUR
Financial Call Swaption |  | 3 months |  |  |  | WD Peaks |  | PTA
Financial Put Swaption |  | 6 months
 |  | 1 Year
Note: | Options are not currently traded, swaptions are more likely to be traded in 1 year time, and options in 2 years.
 | Physical deals are highly unlikely in the next 2 years.
Long Descriptions
Instrument Type
 | Financial Swap |  | A Transaction under which one Party pays a Floating Price and the other Party pays a Fixed Price in respect of a specified Notional Quantity per Determination Period,
 | European Call Option |  | An agreement whereby the buyer (the holder) has the right but not the obligation to buy electricity for a specified price on a specified exercise date in exchange for a premium payment
 | European Put Option |  | An agreement whereby the buyer (the holder) has the right but not the obligation to sell electricity for a specified price on a specified exercise date in exchange for a premium payment
 | Call Swaption |  | An agreement giving the buyer a right, but not an obligation to buy
 | Put Swaption |  | An agreement giving the buyer a right, but not an obligation to sell
Term | Day Ahead |  | period  from  00:00 tomorrow to 00:00 the day after tomorrow
 | Week Ahead |  | period from 00:00 on the closest Monday to 00:00 on the following Monday
 | 1 Month |  | period from 00.00 on the first day of the month to 00.00 on the last day of the month
 | 3 Months |  | period from 00.00 on the first day of the month to 00.00 on the last day of the month two months ahead
 | 6 Months |  | period from 00.00 on the first day of the month to 00.00 on the last day of the month six months ahead
 | 1 Year |  | period between 00:00 am on the first day of the next calendar month and 00:00 am on the first day of the same calendar month in the following calendar year
Reference Variable | PMH Time-Weighted |  | where the Floating Price shall be the arithmetic mean of all the Marginal Prices (one per each hour) of the Electrical Energy Production Daily Market published by the Compania [NAME], S.A. (OMEL) for the "Mercado Diaro" in its internet address located at http://www.mercaelectrico.comel.es/ for each day
 | [NAME] |  | where the Floating Price shall be the daily demand weighted average of the hourly energy payments (PMH(h)) in Ptas/kWh from the Day-Ahead Market as published by the Compania [NAME], S.A. (OMEL) for the "Mercado Diaro" in its internet address located at http://www.mercaelectrico.comel.es/ for each day
 | PMHI(s) |  | where the Floating Price shall be the daily arithmetic average of hourly energy payments (PMHI(h,s)) in Ptas/kWh from the Intra-Daily Market Sessions as published by the Compania [NAME], S.A. (OMEL) for the "Mercado Diaro" in its internet address located at http://www.mercaelectrico.comel.es/ for each day
[NAME] | Time-Weighted Baseload |  | contract settled against the time-weighted average of [NAME] for all hours for that term
 | Volume-Weighted Baseload |  | contract settled against the volume-weighted average of the Reference Variable for all hours for that term.  The volume to be used is that traded in the market for the Reference Variable in question.
 | Baseload |  | the minimum amount of electric power delivered or required at a steady rate
 | WDWE Peaks |  | the amount of electric power delivered between hours H09 and H24 (inclusive) Monday to Sunday
 | WDWE Off-Peaks |  | the amount of electric power delivered between hours H01 and H08 (inclusive) Monday to Sunday
 | WD Peaks |  | the amount of electric power delivered between hours H09 and H24 (inclusive) Monday to Friday
Currency | USD |  | United States Dollars
 | GBP |  | Pounds Sterling
 | EUR |  | EUROs
 | PTA |  | Spanish Pesetas
Contractual Reference |  | , pursuant to any master agreement between the Parties, or if no master agreement is in effect, the GTCs (Financial) specified in this website (or its successor)
Examples:
Short Description: | Iberian Power Financial Swap, Day Ahead, PMH Time-weighted, Baseload, GBP/MWh
Long Description: