Commodities
Derivatives

Wind profile power derivatives

The wind power products are a variant of the daily and weekly base contracts. The only difference being that they are settled according to a pre-defined Wind Profile instead of according to a Flat profile. That is, at settlement each hour of the period will have a weight according to the values of the wind profile for each hour of the period, instead of having an equal weight in all the hours of the period.

The delivery periods of the wind power derivatives would be:

  • Day-Ahead
  • Week-End
  • Week-Ahead.

The Wind Profile will vary according to short-term wind production forecasts provided by the professional third party METEOBIT, and it will be published in MEFF´s webpage prior to accepting registration of any transactions on such Contracts.

The wind power profile consists of defining a percentage for each hourly value for each relevant period (DA, WE or WA) of the aggregated national wind power forecasted relative to the total hourly wind power forecasted for that period (DA, WE or WA).

The profiles will have 24 (23/25) values for the DA product, 48 (47/49) for the WE and 168 (167/169) values for the WA product, and the sum of all the values for a given delivery period will be 100%.

In order to see the published profiles please click here.

Profile publication

 Each business day before 9:00 a.m MEFF will publish on its website the profiles corresponding to the DA. On Thursdays additionally the WA and WE products will be published, and on Fridays the profiles for Saturday, Sunday and Monday, as described in the following table.

Business dayDAWEWA
Monday Tuesday    
Tuesday Wednesday    
Wednesday Thursday    
Thursday Friday              Weekend                Weekly: Monday to Sunday     
Friday Saturday,Sunday, Monday    

The business day calendar will be set according to the TARGET calendar as defined by the European Central Bank. Should any of the business days marked in the above table be a bank holiday, the profile publication will be done on the previous business day.

Negotiation and Registration period

 Each business day from 9:00 a.m onwards, the contracts with variable wind profile will be available for negotiation and registration according to the following table:

Business day DA WE WA
Monday Tuesday    
Tuesday Wednesday    
Wednesday Thursday    
Thursday Friday             Weekend               Weekly:  Monday to Sunday     
Friday Saturday,Sunday, Monday           Weekend              Weekly:  Monday to Sunday     
Copyright® Bolsas y Mercados Españoles 2018
[ http://www.meff.es ]

MARKET STATUS

If an issue occurs, the message "TRADING" will change to "MARKET ISSUE" to reflect that a market event has occurred. By clicking on the Issue of the published alert it will be possible to access the information and intraday updates associated with this incident, which will be published immediately.

Note: BME will use its discretion to assign the severity of an incident