Spreadsheet: mark_taylor__24729__ClickInTradingProducts
Sheet: UKPower

UK Power
Short Description Boxes for UK Power |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | FOR OPTIONS
E&W Power Pool |  | Calendar Type |  | Term |  | Year |  | Reference Variable |  | [NAME] |  | Currency |  | Units |  | Option Type |  | Strike Price |  | Exercise Date
Swap |  | EFA |  | Day Ahead |  | 1999 |  | PPP |  | Baseload |  | USD |  | MWh |  | Call Swaption |  | 22 |  | 1999-06-30 00:00:00
Swaption |  | Calendar |  | Week Ahead |  | 2000 |  | SMP |  | Peak (WD345) |  | GBP |  | kWh |  | Put Swaption
 |  |  |  | Balance of Month |  | 2001 |  | LOLP |  | Off-Peak (WD126+WE) |  | EUR
 |  |  |  | Summer |  |  |  |  |  | LS44
 |  |  |  | Winter |  |  |  |  |  | Extended Peaks (WD3456)
 |  |  |  | Monthly (Jan - Dec) |  |  |  |  |  | Overnights (WD12+WE12)
 |  |  |  | Year Starting in October
 |  |  |  | Year Starting in April
Notes: | UK Power Physical trading may become possible in Apr-2001.
 | EFA/Calendar price conversion should be done on the screen => this may require input of EFA Calendar into the Online Trading Database.
Long Descriptions
Calendar Type | EFA |  | EFA (Electricity Forward Agreement) calendar defined under England and Wales Pool Rules
 | Calendar |  | the Gregorian calendar
Term | EFA Day Ahead |  |  | half hours between 11:00 p.m. today and 11:00 p.m. tomorrow inclusive
 | Calendar Day Ahead |  |  | half hours between 00:00 a.m.tomorrow and 00:00 a.m.the day after tomorrow inclusive
 | EFA Week Ahead |  |  | half hours between 11:00 p.m. on the closest Sunday and 11:00 p.m. on the Sunday following week
 | Calendar Week Ahead |  |  | half hours between 00:00 a.m. on the closest Monday and 00:00 a.m. on Monday one week later
 | EFA Balance of Month |  |  | half hours between 11:00 p.m. today and 11:00 p.m. on the last day of the current EFA month, according to the EFA (Electricity Forward Agreement) calendar defined under the England and Wales Pool Rules
 | [NAME] of Month |  |  | half hours between 00:00 a.m. tomorrow and 00:00 a.m. on the first day of the next calendar month
 | EFA Summer |  |  | half-hour periods between EFA weeks 14 and 39 inclusive, according to the EFA (Electricity Forward Agreement) calendar under the England and Wales Pool Rules
 | Calendar Summer |  |  | half-hour periods between 00:00 a.m. on 1st April and 00:00 a.m. on the 1st October
 | EFA Winter |  |  | half-hour periods between EFA weeks 40 in the Year 1999 and 13 in the Year 2000 inclusive, according to the EFA (Electricity Forward Agreement) calendar under the England and Wales Pool Rules
 | Calendar Winter |  |  | half-hour periods between 00:00 a.m. on 1st April and 00:00 a.m. on the 1st October
 | EFA Month (Jan - Dec) |  |  | half hours between 11:00 p.m. on the last day of the previous EFA month and 11:00 p.m. on the last day of the EFA month
 | Calendar Month (Jan - Dec) |  |  | half hours between 00:00 a.m. on the first day of the calendar month and  00:00 a.m. on the first day of the next calendar month
 | EFA Year Starting in October |  |  | half hours between 11:00 p.m. on 30th September and 11:00 p.m. on 30th September one year later
 | Calendar Year Starting in October |  |  | half hours between 00:00 a.m. on 1st October and 00:00 a.m. on 1st October one year year
 | EFA Year Starting in April |  |  | half hours between 11:00 p.m. on 31st March and 11:00 p.m. on  31st March one year later
 | Calendar Year Starting in April |  |  | half hours between 00:00 a.m. on 31st March and 00:00 a.m. on 31st March one year later
Reference Variable
 | LOLP |  | LOLP (Loss of Load Probability) or capacity payment in £/MWh as published for each half-hour by England and [NAME]
 | SMP |  | System Marginal Price in £/MWh as published for each half-hour by England and [NAME]
 | PPP |  | Pool Purchase Price in £/MWh, which is the sum of LOLP (Loss of Load Probability) and SMP (System Marginal Price), as published for each half-hour by England and [NAME]
[NAME] | Baseload |  | against the average of all half-hour periods
 | Peak |  | against the average of half-hour periods in EFA slots [NAME], WD4 and WD5, according to the EFA (Electricity Forward Agreement) calendar defined under the England and Wales Pool Rules
 | Off-Peak |  | against the average of half-hour periods in EFA slots WD1, WD2, WD6 and all weekends, according to the EFA (Electricity Forward Agreement) calendar defined under the England and Wales Pool Rules
 | [NAME] (LS44) |  | against the average of all half-hour periods with doubled volumes for half-hour periods in EFA slots [NAME], WD4 and WD5, according to the EFA (Electricity Forward Agreement) calendar defined under the England and Wales Pool Rules
 | Extended Peaks (WD3456) |  | against the average of half-hour periods in EFA slots [NAME], WD4, WD5 and WD6, according to the EFA (Electricity Forward Agreement) calendar defined under the England and Wales Pool Rules
 | Overnights (WD12+WE12) |  | against the average of half-hour periods in EFA slots WD1, WD2, WE1 and WE2,  according to the EFA (Electricity Forward Agreement) calendar defined under the England and Wales Pool Rules
Instrument Type | Call Swaption |  | A Transaction under which the Swaption Buyer has the right, in relation to the Swaption Seller (the [NAME]) in return for payment of the Premium, and after exercise of the Call Swaption no later than the Exercise Date, to receive a Difference Payment from the [NAME], where the Average Reference Price is above the Strike Price, and the obligation to pay a Difference Payment to the [NAME] where the Average Reference Price is below the Strike Price
 | Put Swaption |  | A Transaction under which the Swaption Buyer has the right,  in relation to the Swaption Seller (the [NAME]) in return for payment of the Premium, and after exercise of the Put Swaption no later than the Exercise Date, to receive a Difference Payment from the [NAME], where the Strike Price is above the Average Reference Price, and the obligation to pay a Difference Payment to the [NAME] where the Strike Price is below the Average Reference Price
 | 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
 | Financial SWAP |  | A Transaction under which the [NAME] is obliged to pay a Difference Payment to the [NAME] where in the Contract Period the Average Reference Price is above the Strike Price, and the [NAME] is obliged to pay a Difference Payment to the [NAME] where the Average Reference Price is below the Strike Price
Currency | USD |  | United States Dollars
 | GBP |  | Pounds Sterling
 | EUR |  | EUROs
Units | MWh |  | [NAME] (1,000,000 watts) hour of electricity, where watt is a unit of electrical power equivalent to one joule per second
 | kWh |  | Kilowatt (1,000 watts) hour of electricity, where watt is a unit of electrical power equivalent to one joule per second
EFA Reference | , pursuant to any master agreement between the Parties, or if no master agreement is in effect, the GTCs for UK Power under the EFA Terms Edition 2 1991 as amended in this website (or its successor).
Examples:
Short Description: | UK Power Swap, EFA Day Ahead, LOLP, Baseload, £/MWh
Long Description:
Short Description: | UK Power Call Swaption, Calendar Day Ahead, PPP, Baseload, Strike 22£/MWh, Exp. 30/06/99, £/MWh
Long Description: