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Nasdaq Commodities

ELECTRICITY PRICE AREA DIFFERENTIALS Explanatory note

Spot Reference Price: Load: Product: Area:
Difference between area price and the Nordic system price Baseload 2 M, 3 Q, 3 YR Oslo, Stockholm, Helsinki, Copenhagen
Århur and Syger (1 YR)

An Electricity Price Area Differential (EPAD) is a forward contract with reference to the difference between the area price and the Nord Pool Nordic Spot system price. The market price of an EPAD during the trading period reflects the market’s prediction of the price difference during the delivery period.

SYOSL 

=

Norway

Oslo area price - system price ΔP

SYSTO 

=

Sweden

Stockholm area price - system price ΔP

SYHEL

=

Finland

Helsinki area price - system price ΔP

SYARH  

=

Denmark West

Aarhus area price - system price ΔP

SYCPH 

=

Denmark East

Copenhagen area price - system price ΔP

SYSTODEC-10 (product series)  
First trading day: 03.09.10
Last trading day: 30.11.10
Start of deliver period: 01.12.10
End of delivery period: 31.12.10
Cascaded from: SYSTCPHQ4-10

SYHELQ4-12 (product series)  
First trading day: 27.12.12
Last trading day: 28.09.12
Start of deliver period: 01.10.12
End of delivery period: 31.12.12
Cascaded from: SYSTOYR-12

SYOSLYR-18 (product series)  
First trading day: 02.01.15
Last trading day: 27.12.17
Start of deliver period: 01.01.18
End of delivery period: 31.12.18
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