Off Peak Period Electricity Futures Strip

Commodity Code on SYCOM - ON, OQ, OS, OV (N=NSW, Q=QLD, S=SA, V=VIC)
Contracts Used - BN & PN, BQ & PQ, BS & PS, BV & PV

Refers to a bought Base Load Electricity strip traded against a sold Peak Period Electricity strip (or vice versa) of the same region, consisting of the same contract months and volume traded at an average price.

Off Peak Period Electricity Strip Markets have their own defined market window in Sycom.

The Exchange's standard for defining an electricity Strip market will be that the last expiry month for that Strip market will denote the contract month to identify that Strip Market in the defined market window in Sycom.

Example

ONM6= (BNU5+BNZ5+BNH6+BNM6)- (PNU5+PNZ5+PNH6+PNM6)
ONZ6= (BNH6+BNM6+BNU6+BNZ6) - (PNH6+PNM6+PNU6+PNZ6)

The Sycom code Z that specifies December denotes a calendar year and the Sycom code M that specifies June denotes a financial year.

Pricing convention in the defined market window in Sycom will be the MWH weighted average price of the quarterly futures contracts in the Strip.