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| Dow Jones North Path 15 Electricity Index Futures |
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Path 15 is an 84-mile major power transmission corridor running north and south
through the heart of the Central Valley region of California. Path 15 connects
Southern California with the northern part of the state, and ties in to transmission
lines running west to the Diablo Canyon nuclear power station.
The volume of power that flows along Path 15, the wide area it serves, and
the constraints on transmission resources often result in volatile pricing.
To help market participants better manage their risk and mitigate counterparty
credit risk, the Exchange provides financially settled futures contracts based
on the average peak day price for the electricity market hub on Path 15 reflected
in the Dow Jones North Path 15 and South Path 15 electricity indexes. The contracts
trade on the NYMEX ClearPortsm electronic platform or transactions can be conducted
off-exchange and submitted solely for clearing through NYMEX ClearPortsm.
This is the first time that Dow Jones Electricity Indexes have been licensed
for use by an exchange. These pricing indexes are used extensively by U.S. and
European utilities, power marketers, independent power producers, consultants
and municipalities for pricing short- and long-term contracts and hedging instruments.
Dow Jones has contracts with more than 60 utilities, power marketers, and power
producers to contribute to Dow Jones all pertinent transactions for the day,
every day, making Dow Jones Electricity Indexes the most consistent, dependable
barometers available. |
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