Contract Specifications - Electricity Futures

ELECTRICITY

Futures contract (FUTENR)

Electricity Futures

ELECMBL

ELECMBLYYMMM

Contracts are available for all 12 calendar months in a year.  These contracts are listed for the current month and the next 3 months.

1st Business Day of the launch month. A contract is launched 3 months prior to the expiry month as per launch calendar. 

Business day immediately preceding the last calendar day of the contract expiry month. In case, it falls on a holiday, then the preceding business day.

On the contract expiry day, the contract will close for trading prior to dissemination of spot prices [on the basis of Unconstrained Market Clearing Price (UMCP) of the corresponding Day Ahead Market (DAM) ]

Mondays through Fridays 

Monday - Friday 9:00 am to 11:30 / 11:55 pm*

* Based on US daylight saving time period

50 MWh

₹ per MWh

2500 MWh  

₹ 1 per MWh 

As per recent SEBI circular no. SEBI/HO/CDMRD/DNPMP/CIR/P/2021/9 dated 11th January, 2021 regarding “Revision in Daily Price Limits (DPL) for Commodity Futures Contracts”

Category: Other Non- Agricultural goods

Initial Slab: 6%

Enhanced Slab: 3%

Aggregate DPL: 9%

Once the initial slab limit is breached in any contract, the DPL for that contract shall be relaxed further by the ‘Enhanced Slab’ after the cooling off period of 15 minutes in the trading. During the cooling off period, trading shall continue to be permitted within the previous slab of DPL.

Minimum margin based on volatility category or based on SPAN whichever is higher.

1%

In case of additional volatility, an additional margin (on both buy & sale position) and/ or special margin (on either buy or sale position) at such percentage, as deemed fit; will be imposed in respect of all outstanding positions.

For a member collectively for all clients: 30,00,000 MWh or 20% of the market wide open position, whichever is higher for all the Electricity contracts combined together.   

For individual clients: 3,00,000 MWh or 5% of the market wide open position, whichever is higher for all the Electricity contracts combined together. 

The contract would be settled in Cash

As defined by PXIL (Power Exchange of India Ltd) for Day Ahead Market.

DDR based on Average of the DAM-UMCPs (Unconstrained Market Clearing Price) * of PXIL (Power Exchange of India Ltd) of all the calendar days of the expiry month.

*With a pre-determined equation as notified by the exchange