Products List and Specifications - Power segment
For reaching the current HUDEX Power Product list and specification please use the following link:
HUDEX Power Product list and specification valid from 12.11.2018
- Long term products
HUDEX Long Term Hungarian Financial Power Base Load Product
Product Name
HUDEX Long Term Hungarian Financial Power Base Load Product
Description
Long term financial product with the value of power from hour 01 on the first day of the Contract period until hour 24 on the last day of the Contract period where power may be delivered in the Hungarian Transmission System.
Listing day
3rd of January 2018
Underlying product
Electrical power transiting over the Hungarian transmission system managed by MAVIR Ltd. (the Hungarian TSO).
Basic quality of the underlying product
Electrical power with defined voltage, frequency, cosine φ displacement factor and cut-off frequencies, in compliance with the regulations of the grid code of the Hungarian electricity system.
Lot size (minimum tradable volume)
1 MW
Maximum quantity
1000 MW
Price characteristics
In euro per MWh with two decimal digits
Tick (minimum tick value)
One euro cent per MWh; 0.01 €/MWh
Minimum and maximum prices
0.01 €/MWh / 1000.00 €/MWh
Trading Days
Trading session opening
Trading procedure
Continuous
Clearing and Settlement
The Clearing House for the Power Segment of HUDEX is the European Commodity Clearing AG (ECC) according to the Market Rules of HUDEX.
Settlement Prices
Settlement Prices are calculated according to the Market Rules of HUDEX on each Trading Day.
The determination of the final settlement price is based on an index which is the mean value of HUPX DAM base prices traded for the respective delivery period (Contract).
Delivery Point
No direct physical delivery shall be possible. Optional physical delivery may be requested. Physical delivery will be executed through HUPX Day-Ahead Market.
HUDEX Long Term Hungarian Financial Power Base Load Contracts
Contract series
Front 4 individual Weeks
Front 6 individual Months
Front 7 individual Quarters (defined as Jan-Mar, Apr-Jun, Jul-Sep and Oct- Dec)
Front 6 individual Years (defined as Jan-Dec)
Contract size
1 MW x days x hours
Weekly Contract series:
168 MWh (Normal week)
167 MWh (March week summertime change)
169 MWh (October week wintertime change)
Monthly Contract series:
672 MWh (Feb, non-leap) 743 MWh (Mar)
696 MWh (Feb, leap) 744 MWh (Jan, May, Jul, Aug, Dec)
720 MWh (Apr, Jun, Sep, Nov) 745 MWh (Oct)
Opening Day
Opening of new Contract takes place at expiry of old Contract series
Last Trading Day and cascading
The Last Trading Day of a Contract takes place 2 Clearing House’s business days before start of the delivery period for weekly and monthly Contracts, and 3 Clearing House’s business days for quarterly and yearly Contracts.
Yearly Contract cascades into 3 individual Monthly Contracts and 3 Quarterly Contracts. Quarterly Contract cascades into 3 individual Monthly Contracts.
For Weekly Contract series no cascading is applied.
Method of delivery
HUDEX Member holding a position for a Contract may request physical fulfilment up to its positions for Monthly and Weekly products.
Rules of physical delivery
HUDEX ensures an internet-based webtool for submission of the physical delivery requests
Deadlines of the submission:
Weekly Products: one business day ahead of delivery until 11:00 CET
Monthly Products: two business days ahead of delivery until 15:00 CET
Monthly Contract is tradable until 13:00 CET on its last Trading Day due to the optional physical delivery process
HUDEX Long Term Hungarian Financial Power Peak Load Product
Product Name
HUDEX Long Term Hungarian Financial Power Peak Load Product
Description
Long term financial product with the value of power from hour 09 on all weekdays, public holidays included until hour 20 during the Contract period where power may be delivered in the Hungarian Transmission System
Listing day
3rd of January 2018
Underlying product
Electrical power transiting over the Hungarian transmission system managed by MAVIR Ltd. (the Hungarian TSO).
Basic quality of the underlying product
Electrical power with defined voltage, frequency, cosine φ displacement factor and cut-off frequencies, in compliance with the regulations of the grid code of the Hungarian electricity system.
Lot size (minimum tradable volume)
1 MW
Maximum quantity
1000 MW
Price characteristics
In euro per MWh with two decimal digits
Tick (minimum tick value)
One euro cent per MWh; 0.01 €/MWh
Minimum and maximum prices
0.01 €/MWh / 1000.00 €/MWh
Trading Days
Trading session opening
Trading procedure
Continuous
Clearing and Settlement
The Clearing House for the Power Segment of HUDEX is the European Commodity Clearing AG (ECC) according to the Market Rules of HUDEX.
Settlement Prices
Settlement Prices are calculated according to the Market Rules of HUDEX on each Trading Day.
The determination of the final settlement price is based on an index which is the mean value of HUPX DAM peak prices traded for the respective delivery period (Contract).
Delivery Point
No direct physical delivery shall be possible. Optional physical delivery may be requested. Physical delivery will be executed through HUPX Day-Ahead Market.
HUDEX Long Term Hungarian Financial Power Peak Load Contracts Contract series
Front 6 individual Months
Front 7 individual Quarters (defined as Jan-Mar, Apr-Jun, Jul-Sep and Oct- Dec)
Front 6 individual Years (defined as Jan-Dec)
Contract size
1 MW x weekdays in Contract period x 12 hours
Opening day
Introduction of new Contract series is at expiry of old Contract series
Last Trading Day and cascading
The Last Trading Day of a Contract takes place 2 Clearing House’s business days (according to the Clearing House’s calendar) before start of the delivery period for weekly and monthly Contracts, and 3 Clearing House’s business days for quarterly and yearly Contracts.
Yearly Contract cascades into 3 individual Monthly Contracts and 3 Quarterly Contracts. Quarterly Contract cascades into 3 individual Monthly Contracts.
Method of delivery
HUDEX Member holding a position for a Contract may request physical fulfilment up to its positions for Monthly products.
Rules of physical delivery
HUDEX ensures an internet-based webtool for submission of the physical delivery requests
Deadline of the submission:
Monthly Products: two business days ahead of delivery until 15:00 CET
Monthly Contract is tradable until 13:00 CET on its last Trading Day due to the optional physical delivery process
- Short term products
HUDEX Short Term Hungarian Financial Power Base Load Product Product Name
HUDEX Short Term Hungarian Financial Power Base Load Product
Description
Short term financial product with the value of power on the Hungarian transmission system from hour 01 on the first day of the Contract period until hour 24 on the last day of the Contract period.
Listing day
12th of November 2018
Underlying product
Electrical power transiting over the Hungarian transmission system managed by MAVIR Ltd. (the Hungarian TSO).
Basic quality of the underlying product
Electrical power with defined voltage, frequency, cosine φ displacement factor and cut-off frequencies, in compliance with the regulations of the grid code of the Hungarian electricity system.
Lot size (minimum tradable volume)
1 MW
Maximum quantity
1000 MW
Price characteristics
In euro per MWh with two decimal digits
Tick (minimum tick value)
One euro cent per MWh; 0.01 €/MWh
Minimum and maximum prices
0.01 €/MWh / 1000.00 €/MWh
Trading Days
Trading session opening
Trading procedure
Continuous
Clearing and Settlement
The Clearing House for the Power Segment of HUDEX is the European Commodity Clearing AG (ECC) according to the Market Rules of HUDEX.
Settlement Prices
Settlement Prices are calculated according to the Market Rules of HUDEX on each Trading Day.
The determination of the final settlement price is based on an index which is the mean value of HUPX DAM base prices traded for the respective delivery period (Contract).
Delivery Point
No physical delivery shall be possible.
HUDEX Short Term Hungarian Financial Power Base Load Contracts Contract series
Front 6 individual Days
Front 1 individual Weekends
Contract size
1 MW x days x hours
Day Contract series:
24 MWh (Normal day)
23 MWh (day of summertime change)
25 MWh (day of wintertime change)
Weekend Contract series:
48 MWh (Normal weekend)
47 MWh (weekend of summertime change)
49 MWh (weekend of wintertime change)
Opening Day
Opening of new Contract takes place at expiry of old Contract series
Last Trading Day and cascading
The Last Trading Day of a Contract takes place 1 Clearing House’s business day before start of the delivery period.
No cascading is applied.