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Heating Degree Day |
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Heating Degree Day A day on which the temperature in a certain area is below 65 degrees Fahrenheit, necessitating the use of heaters. Heating degree days are used in some weather futures, which are contracts in which the buyer is required to pay the seller some multiple of $20 for each heating degree day in a month, depending on how much cooler it is. Weather futures allow businesses to hedge against potential losses resulting from unexpected changes in weather. Energy companies are the most common sellers of weather futures; they have become relatively popular investments. See also: Cooling degree day. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Looking back at the Phoenix Swap, this time with reconstructed data, AIR found that there now was an 86% chance that the contract would settle below 4,250 cooling degree days. The number of cooling degree days in July 2003 was 13 percent above normal and 20 percent above the level recorded in July 2002. The weather derivatives are based on heating degree days (HDD) or cooling degree days (CDD). |
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