Bid Week definition

Bid Week means the week during which the New York Mercantile Exchange’s ▇▇▇▇▇ Hub natural gas futures contract for the immediately following month terminates. “British thermal unit” or “Btu” means the International BTU, which is also called the Btu (IT).
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Bid Week is defined to mean for the week in the prior month during which gas prices are established for the current month.
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Bid Week means the last 5 business days of each calendar month.
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Examples of Bid Week in a sentence

  • Buyer shall notify Seller of its intention to make payments prior to the Payment Date at least two (2) Business Days prior to Bid Week for the delivery month.

  • If Seller anticipates that Seller will be unable to deliver Gas to Buyer on any Gas Day for the following month due to an Interruption of LNG Supply, Seller shall notify Buyer at least two (2) Business Days prior to the Bid Week for the delivery month of the estimated amount of the Interruption of LNG Supply.

  • No later than two (2) Business Days prior to Bid Week for each delivery month, Seller shall notify Buyer of any volume of Gas that Seller will not be able to deliver to Buyer for such delivery month due to Scheduled Maintenance.


More Definitions of Bid Week

Bid Week. Average Spot (One Month) Firm (100% LF) price" published in "The Canadian Gas Price Reporter Table: Canadian Natural Gas Supply Prices" converted from Cdn $/GJ to Cdn $/MMBtus by multiplying by 1.054615 GJ/MMBtu and converted to US $/MMBtu by multiplying by the current month "Canada/U.S. Exchange Rate" published in "The Canadian Gas Price Reporter Table: Monthly Canadian and U.S. natural gas price summary" rounded to the nearest cent;
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Bid Week means the last 5 trading days of each calendar month, where a trading day is defined as any day that the Intercontinental Exchange (ICE) is trading physical natural gas.
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Related to Bid Week

  • A week means seven days without regard to the number of hours worked in any day in that week.

  • Week means seven consecutive days.

  • Forecast Period means the period of three calendar months for which a Forecast is provided;

  • Calendar Week means any period of seven days starting with the same day as the first day of the First Assignment;

  • Working Day means any day other than a Saturday or Sunday or public holiday in England and Wales.