Spreadsheet: mark_taylor__24728__ClickInTradingProducts
Sheet: UKGas

UK Gas
Short Description Boxes for UK Gas
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | FOR OPTIONS
Financial |  | Location |  | Term |  | Year |  | Settlement Index |  | Currency |  | Units |  | Option Type |  | Option Strike |  | Exercise Date
Swap |  | NBP |  | Monthly (Jan - Dec) |  | 1999 |  | IPE |  | USD |  | therms |  | European Call |  | [NAME]
Option |  |  |  | Quartely (Q1 - Q4) |  | 2000 |  | Heren |  | pence |  | MMBtu |  | European Put
 |  |  |  | Gas Year |  | 2001 |  |  |  | EUR |  | kWh
 |  |  |  | Cal Year |  |  |  |  |  | GBP |  | GJ
Physical |  | Location |  | Term |  | Year |  |  |  | Currency |  | Units |  | Swing % |  | Option Type |  | Option Strike |  | Exercise Date
Physical Forward |  | NBP |  | Within Day |  | 1999 |  |  |  | USD |  | therms |  | 140/90 |  | Call |  | 12
Option |  | Bacton |  | Day Ahead |  | 2000 |  |  |  | GBP |  | MMBtu |  |  |  | Put
Swing Option |  | St.Fergus |  | Balance of Month |  | 2001 |  |  |  | EUR |  | kWh
Capacity |  | Teesside |  | [NAME] |  |  |  |  |  |  |  | GJ
 |  |  |  | Monthly (Jan - Dec)
 |  |  |  | Quartely (Q1 - Q4)
 |  |  |  | Summer
 |  |  |  | Winter
 |  |  |  | Gas Year
 |  |  |  | Cal Year
Notes: | Expiration date for financial options is an industry standard and has to be specified in confirmation ( for example: -5 days).
Long Descriptions
Location | NBP |  | the National Balancing Point, being a conceptual point on the NTS (National Transmission System - the main pipeline system operated by [NAME] for Natural Gas) for Trade Nominations as defined under the Network Code section C6
 | Bacton |  | the beach system entry point connecting the Bacton terminal to the NTS  (National Transmission System - the main pipeline system operated by [NAME] for Natural Gas)
 | Teesside |  | the beach system entry point connecting the Teesside terminal to the NTS  (National Transmission System - the main pipeline system operated by [NAME] for Natural Gas)
 | St Fergus |  | the beach system entry point connecting the St. Fergus terminal to the NTS  (National Transmission System - the main pipeline system operated by [NAME] for Natural Gas)
 | Network Code |  | a document prepared by [NAME] pursuant to its public transporters licence and relating to its principal pipeline system
Term
 | Month (Jan - Dec) |  | a period from 06:00 hrs on the 1st day of the month to 06:00 hrs on the 1st day of the following month
 | Q1 |  | a period from 06:00 hrs 1st January to 06:00 hrs 1st April
 | Q2 |  | a period from 06:00 hrs 1st April to 06:00 hrs 1st July
 | Q3 |  | a period from 06:00 hrs 1st July to 06:00 hrs 1st October
 | Q4 |  | a period from 06:00 hrs 1st October to 06:00 hrs 1st January
 | Gas Year |  | a period from 06:00 hrs 1st October  to 06:00 hrs 1st October on the following year
 | Calender Year |  | a period from 06:00 hrs 1st January to 06:00 hrs 1st January on the following year
 | Summer |  | a period from 06:00 hrs 1st November to 06:00 hrs 1st May next year
 | Winter |  | a period from 06:00 hrs 1st May to 06:00 hrs 1st October
 | Within Day |  | a period from 06:00 hrs today to 06:00 hrs tomorrow
 | Day Ahead |  | a period from 06:00 hrs tomorrow to 06:00 hrs the day after
 | Balance of Month |  | a period from 06:00 hrs today to 06:00 hrs of the 1st Day of the next Calendar Month
 | Prompt Month |  | a period from 06:00 hrs of the 1st Day of the next Calendar Month to 06:00 hrs of the 1st Day of the following Calendar Month
 | Period start - end |  | a period from 06:00 hrs on the Starting Date  to 06:00 hrs on the day next after the Ending Date of the period
Settlement Index
 | IPE |  | the arithmetic average of the daily official settlement prices for the prompt month natural gas contract on the International Petroleum Exchange (IPE)
 | Heren |  | the arithmetic average of the daily official settlement prices for the Heren Index
Instrument Type
 | Swap |  | An agreement whereby a floating price is exchanged  for a fixed price over a specified period
 | Physical Forward |  | An agreement whereby a physical volume is exchanged  for a fixed price over a specified period
 | European Call Option |  | An agreement whereby the buyer (the holder) has the right but not the obligation to buy Natural Gas 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 Natural Gas for a specified price on a specified exercise date in exchange for a premium payment
 | Swing |  | An agreement whereby a physical volume, nominated by the buyer on a daily basis between zero and x% of the daily contract quantity, is exchanged  for a fixed price over a specified period. The buyer has a Take or Pay obligation over the period for the volume equal to the number of days in the period multiplied by the daily contract quantity mulyiplied by [NAME]. Daily nominations are required by 3.30pm on the previous gas day. Swing is quoted as x%/y%
 | Capacity |  | NTS system entry capacity as defined under the network code section 1.2.3.(a)
Units
 | therm |  | therm, being the imperial measurement for a quantity of gas, equivalent to 100,000 Btu
 | Btu |  | British thermal unit, which is equal to the amount of heat required to raise the temperature of 1lb of water by 1 degree F
 | MMBtu |  | million of British thermal units
 | kWh |  | electric energy equivalent to the power of one kilowatt (1000 watts) operating for one hour
 | GJ |  | one billion joules, approximately equivalent to 948,000 Btu
Currency | USD |  | United States Dollars
 | GBP |  | Pounds Sterling
 | EUR |  | EUROs
 | pence |  | pence, equal to 1/100 of a Pound Sterling,
Examples:
Short Description: | UK Gas Financial Swap, NBP, Aug 1999, at IPE, pence/[NAME]
Long Description:
Short Description: | UK Gas Financial Call Option, NBP, Jul-99, Settled at IPE,  Strike 8.5 p/th, pence/[NAME]
Long Description:
Short Description: | UK Gas Physical Swap, Bacton, Within Day, £/MMBTu
Long Description:
Short Description: | UK Gas Physical Swing 140/90, Bacton, Prompt Month, pence/[NAME]
Long Description:
Short Description: | UK Gas Physical Put Option, NBP, Gas Year 2001, Strike 12p/th, pence/[NAME]
Long Description: