Incorrect Provisional Settlement Prices - NZ Electricity September 2021 Quarterly Base & Peak Load Futures
Mon 1 Nov 2021
As per ASX Notice 1516.21.10 Participants are advised that the pricing vendor for NZ Electricity has notified ASX that the prices provided for the EAU21 (Otahuhu Base Load Electricity Futures Contract – Quarterly); ECU21 (Otahuhu Peak Load Electricity Futures Contract – Quarterly); EEU21 (Benmore Base Load Electricity Futures Contract – Quarterly) and EGU21 (Benmore Peak Load Electricity Futures Contract – Quarterly) contracts were incorrect.
ASX expired these contracts using Provisional Settlement Prices as follows:
- EAU21: 149.67
- ECU21: 182.87
- EEU21: 123.57
- EGU21: 144.06
Due to a calculation issue that relates to the price volatility on 9 August, the prices provided to ASX included duplicate data which resulted in the prices being incorrect.
The correct Provisional Settlement Prices are as follows:
- EAU21: 148.59
- ECU21: 181.29
- EEU21: 122.55
- EGU21: 142.57
Participants are advised ASX will pass manual cash adjustments for the difference between the Provisional Settlement Prices, and will contact impacted Participants.
These contracts remain subject to an Undesirable Trading Situation (UTS) from 9 August 2021 which is being investigated, the result of which will be published once known. In the event the final Settlement Price is changed, ASX will pass manual cash adjustments for the difference between the Provisional Settlement Price and the final Settlement Price (once declared).
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