Course 05 of 20 · Power and Electricity Desk Academy

Wholesale Contracts & Trading Products

Stage B, Market execution. Level 3 of 10.

The contractual architecture of baseload, peak, block and shaped wholesale products and the obligations each creates.

109 chapters · 11 modules · every chapter one 8 to 10 minute explainer · builds on: Course 02, Course 03, Course 04

Enrol or enquire See the 109 chapters
How a chapter is sized

One chapter is one idea taken to the point of use

Each chapter is a single self-contained explainer of 8 to 10 narrated minutes, covering one idea to the point where you can use it.

Chapters run in order. Each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

11 modules · 109 chapters

Open any module for its full chapter list, in teaching order.

M0 What a Wholesale Electricity Contract Promises Ch 1-10
  1. Electricity Sold as a Rate Over a Window
  2. Why There Is No Specification Table in a Power Sale
  3. The Three Questions Every Power Product Answers
  4. The Standing Agreement, the Election Sheet and the Trade Ticket
  5. The Published Forms a Power Desk Trades Under
  6. Settled by Schedule or Settled by Difference
  7. The Bidding Zone as the Thing You Are Selling Into
  8. Balance Responsibility: Who Carries the Volume Into Settlement
  9. Local Time, Clock Changes and the Twenty-Three Hour Day
  10. The Holiday Calendar the Clause Points At
M1 The Standard Product Set Ch 11-21
  1. Baseload as an Obligation Rather Than a Price
  2. The Peak Product and the Window It Names
  3. Off-Peak as the Complement, Not an Afterthought
  4. Extended Peak, Weekend and the Products Between
  5. Block Products and the Named Hour Range
  6. Hourly and Sub-Hourly Products on Paper
  7. Delivery Periods from One Day to a Calendar Year
  8. Seasons, Quarters and the Cascade Into Months
  9. Clip Size, Minimum Lot and What the Screen Permits
  10. Reading a Product Code Off a Broker Screen
  11. A Broker Confirmation for a Calendar Baseload, Field by Field
M2 Window Definitions and the Mismatches They Create Ch 22-29
  1. Where Peak Hour Definitions Disagree Between Markets
  2. A Contract Window That Does Not Match the Exchange Window
  3. Holiday Treatment Inside a Peak Promise
  4. Agreeing the Hour Count Before the First Invoice
  5. The Leap Day and the Contract Year That Is Not a Calendar Year
  6. Restating a Foreign Product Into Your Own Convention
  7. When Two Tickets Describe the Same Hours Differently
  8. Building a Product Definition Nobody Can Misread
M3 Shaped and Bespoke Volume Ch 30-40
  1. The Annexed Hourly Schedule as the Quantity Promise
  2. Describing a Shape That Has No Name
  3. Decomposing a Bespoke Shape Into Tradable Blocks on Paper
  4. Writing the Balance of Volume Into the Paper
  5. Load-Following and the Duty to Meet Whatever Arrives
  6. Percentage-of-Load and Tranche Supply Structures
  7. Volume Tolerance Bands in a Wholesale Sale
  8. Flexible Volume Rights Attached to a Block
  9. Floors and Ceilings Inside a Single Delivery Hour
  10. A Shape Schedule That Changes During the Term
  11. A Bespoke Shape Confirmed End to End
M4 Firmness: What the Volume Promise Is Worth Ch 41-49
  1. Firm Volume and the Promise to Replace
  2. Non-Firm and Who Holds the Interruption Right
  3. Unit-Contingent Sales Tied to a Named Station
  4. As-Available Volume and the Absence of a Promise
  5. Conditional Firmness Tied to Grid Availability
  6. Two Offers That Differ Only in Firmness
  7. The Firmness a Retail Supplier Actually Needs
  8. Firmness Through a Chain of Back-to-Back Sales
  9. A Withdrawal Clause Tested on a Hot Afternoon
M5 Price Terms Attached to a Product Ch 50-59
  1. The Fixed Rate Attached to a Block
  2. Floating Against a Published Daily Outturn
  3. Naming a Reference So the Clause Settles Itself
  4. The Reference Stops Publishing: the Fallback Ladder
  5. Two-Way Difference Settlement Against a Reference
  6. Agreed Level, Reference and the Pairing That Defines the Payout
  7. Volume-Weighted Against Simple Averaging
  8. What the Unit Rate Covers and What Sits Outside It
  9. Currency, Conversion and a Zone Priced in Another Money
  10. A Financially Settled Peak Block Settled Over One Month
M6 Performance, Shortfall and the Thing That Cannot Be Stored Ch 60-69
  1. The Duty Measured Settlement Period by Settlement Period
  2. Why a Missed Megawatt Hour Cannot Be Delivered Later
  3. The Replacement Price Remedy on a Power Sale
  4. Proving a Replacement Cost Inside the Delivery Hour
  5. Partial Performance and Pro-Rata Allocation Across Sales
  6. A Station Trips at Fourteen Hundred
  7. System Operator Instructions and Whose Duty They Excuse
  8. Network Unavailability at the Delivery Zone
  9. Suspension Short of Ending a Running Strip
  10. Liability Limits Written Around an Hourly Obligation
M7 Execution Venue and the Paper It Creates Ch 70-79
  1. The Same Product Bought Three Ways
  2. Voice Broker, Recap and the Moment the Block Is Yours
  3. Electronic Platforms and Click-to-Trade Terms
  4. Exchange-Listed Blocks and Novation to the Clearing House
  5. Cleared Against Bilateral: the Duties That Differ
  6. Electronic Matching of Power Confirmations
  7. Sleeving a Block Through a Credit Intermediary
  8. Mirror Trades Across Two Agreements
  9. Assigning a Live Delivery Strip to Another Party
  10. A Mis-Captured Block and Who Wears the Difference
M8 Counterparties and the Products They Need Ch 80-89
  1. Selling Flat Volume to a Retail Supplier
  2. Buying From a Generator That Wants Plant-Linked Terms
  3. Trading With an Aggregator of Small Generation
  4. A Counterparty That Will Only Settle Financially
  5. A Large Industrial Buying Blocks Directly
  6. A Network Company Procuring for Transmission Losses
  7. An Intra-Group Sale and the Paper It Still Needs
  8. A Buyer Without Its Own Balance Responsibility
  9. Eligibility, Classification and Who You May Trade With
  10. The First Trade With a New Counterparty, Step by Step
M9 Running the Contract and the Product Library Ch 90-99
  1. Capturing a Block Product in the Trading System
  2. The Product Definition Library as One Source of Truth
  3. A Wrong Window in the Library and How Far It Spreads
  4. Confirmation Matching, Breaks and Ageing
  5. Amending, Cancelling and Correcting a Confirmed Strip
  6. Turning Signed Terms Into an Invoice Line
  7. Disputing a Settlement Figure on a Shaped Position
  8. The Register and the Strips That Expire Quietly
  9. Reporting Obligations Attached to a Wholesale Trade
  10. Handing a Live Contract Book to Operations
M10 One Deal, Worked Whole, and the Limits Ch 100-109
  1. The Situation: a Supplier Needs Cover for Next Winter
  2. Choosing Between One Shaped Deal and a Stack of Blocks
  3. Writing the Ticket, Part One: Hours and Quantity
  4. Writing the Ticket, Part Two: Rate and Firmness
  5. The Obligation Map the Signed Deal Creates
  6. The Same Deal From the Other Chair
  7. Three Months In: a Change the Paper Did Not Anticipate
  8. Scoring the Contract Against What It Was For
  9. What Product Architecture Cannot Fix
  10. Where These Methods Stop Being Enough

The brochure gives each of these 109 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 5 of twenty

It stands alone, and it is also the entry point to the Power and Electricity Desk Academy pathway.

Enrol or enquire See the whole pathway