Spreadsheet: mark_taylor__24728__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 |  | Spanish Ptas
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 |  | An agreement whereby a floating price 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 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 |  | all hours from  00:00 tomorrow to 00:00 the day after tomorrow
 | Week Ahead |  | all hours from 00:00 on the closest Monday to 00:00 on the following Monday
 | 1 Month |  | all hours from 00.00 on the first day of the month to 00.00 on last day of the month
 | 3 Months |  | all hours from 00.00 on the first day of the month to 00.00 on last day of the month two months forward
 | 6 Months |  | all hours from 00.00 on the first day of the month to 00.00 on last day of the month six months forward
 | 1 Year |  | all hours between 00:00 am on the first day of the nest 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 |  | the hourly energy payment (PMH(h)) in Ptas/kWh from the Day-Ahead Market as published for each hour by OMEL (Operador del Mercado Electrico, S.A.  )
 | [NAME] |  | the hourly energy payment (PMH(h)) in Ptas/kWh from the Day-Ahead Market as published for each hour by OMEL (Operador del Mercado Electrico, S.A.  )
 | PMHI(s) |  | the hourly energy payment (PMHI(h,s)) in Ptas/kWh from the Intra-Daily Market Sessions as published for each hour by OMEL (Operador del Mercado Electrico, S.A.  )
[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 over a given period of time 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
Examples:
Short Description: | Iberian Power Financial Swap, Day Ahead, PMH Time-weighted, Baseload, GBP/MWh
Long Description: