CalPX Block Forwards Market Expands to 12-Month Trading Beginning Oct. 1.PASADENA, Calif.--(BUSINESS WIRE)--Sept. 24, 1999-- Plans to expand the California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). Power Exchange's Block Forwards Market for up to 12 months beyond the current trading month for both Northern and Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, energy delivery zones were announced Friday Friday: see Sabbath; week. Friday young Indian rescued by Crusoe and kept as servant and companion. [Br. Lit.: Robinson Crusoe] See : Servant by CalPX Chief Executive Officer George Sladoje. "Beginning Oct. 1," Sladoje said, "the Block Forwards Market will accept bids for energy sales and purchases in each of the following 12 months to assist market participants The term market participant is used in United States constitutional law to describe a U.S. State which is acting as a producer or supplier of a marketable good or service. When a state is acting in such a role, it may permissibly discriminate against non-residents. in transacting contracts for energy to be delivered next summer and through October 2000. "By trading in this forwards market, both energy buyers and sellers can avoid their exposure to the volatility of energy prices during peak energy use periods while maintaining the market liquidity and price discovery benefits that CalPX offers." Sladoje said that this expansion of the forwards market to 12 months is in response to customer needs and the first of several market enhancements planned as the Block Forwards Market evolves to serve commercial needs in California and throughout the West. Since the market opening in June, trading levels have been steady. "This 12-month expansion not only offers current participants summer price management with physical delivery but also encourages other energy traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. to participate in forwards contracts trading, therefore increasing market size and mutual commercial benefits," Sladoje said. The Block Forwards Market offers contracts involving on-peak blocks of energy at fixed prices. Each forward block consists of 16 on-peak hours, from 6 a.m. to 10 p.m. daily, for each day of the month, excluding Sundays and certain holidays. Energy delivery in the Block Forwards Market can be scheduled through CalPX's Day-Ahead Market or the bilateral bilateral /bi·lat·er·al/ (-lat´er-al) having two sides, or pertaining to both sides. bi·lat·er·al adj. 1. Having or formed of two sides; two-sided. 2. market for either the Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern (NP 15) or Southern California (SP 15) zones. Since energy delivery can be arranged outside of CalPX markets, Block Forwards Market traders are not required to be participants in CalPX's Day-Ahead Market. |
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