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6.2.3 Electricity Documentation

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In November 2017, the AEMC made a final rule to reduce the time interval for financial settlement in the national electricity market from 30 minutes to 5 minutes, starting on 1 July 2021.

AFMA established a working group of member participants to discuss various issues pertaining to the efficient functioning of the OTC electricity derivatives market, with a view to determining market practices, market conventions and documentation to cater for the introduction of 5 minute settlement.

In 2019, new confirmations for electricity derivatives were agreed upon.The old versions can be found below.

6.2.3.1 "Sample Confirmation for fixed forward commodity contracts for cash settlement with commentary"

6.2.3.2 "Sample Confirmation for price cap electricity commodity contracts for cash settlement with commentary"

6.2.3.3 “Sample Confirmation for price floor electricity commodity contracts for cash settlement with commentary”

6.2.3.4 “Sample Confirmation for price collar electricity commodity contracts for cash settlement with commentary"

6.2.3.5 “Sample Confirmation for electricity commodity option contract for cash settlement (other than an Asian option) with commentary”

6.2.3.6 “Sample Confirmation for inter-regional swap electricity commodity contracts for cash settlement with commentary”