Settlement and Collaterals
Settlement schedule
Day Contracts
Day ahead contracts are invoiced weekly on the first Danish banking day of the week, usually mondays.
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
|
Invoice day |
Debit (Settlement purchase) |
|
Credit (Settlement sale) |
|
SWAP contracts:
Swap-contracts are invoiced the first Danish banking day of the week, usually mondays.
The due date differs as to whether the traded price is positive or negative.
|
|
Monday |
Tuesday |
Wednesday |
Thursday |
Friday |
Positive swap price |
Invoice day
|
Debit (Settlement purchase DK – sale GER) |
|
Credit (Settlement sale DK – purchase GER) |
|
Negative swap price |
Invoice day |
Debit
(Settlement sale DK – purchase GER) |
|
Credit (Settlement purchase DK – sale GER) |
|
Month Ahead contracts:
Month ahead contracts are invoiced on the last trading day after trading hours.
The invoice falls due on the first banking day of the delivery period.
The credit note falls due on the first banking day after delivery has taken place.
Invoice day |
Invoice day + 1 day |
Delivery period
|
First banking day after delivery period
|
|
Last day of trading
|
Debit (Settlement purchase) |
|
Credit (Settlement sale) |
Balance of the Month contracts:
Balance of the Month are invoiced the first banking day of the week, usually mondays.
The invoice is due the first banking day after the invoicing date.
The credit note is due on the first banking day after delivery.
Invoice day |
Invoice day + 1 day |
Delivery period
|
First banking day after delivery period |
|
First monday after trading |
Debit (Settlement purchase) |
|
Credit (Settlement sale) |
Settlement days
Invoices are only sent on Danish banking days according to the settlement schedule.
The following days are not invoice days:
Collateral:
Common for all contracts traded at Nord Pool Gas is that a bank garantee posted by the participant secures payment until settlement.
Four bidding areas introduced in Norway
Impact of new bidding areas in Norway
Please note that the change in the Norwegian bidding areas affects which geographical areas the terms NO1, NO2, NO3 and NO4 refer to. This means that a direct comparison between present and historical data for Norwegian bidding areas is not possible.