23. DERIVATIVE CONTRACTS
MEUR 2015 2014
Commodity derivatives (electricity forwards)
Fair value* -0.1 -0.1
Value of underlying instruments 0.3 0.4
Interest rate derivatives
Fair value* -0.7 -0.7
Value of underlying instruments 19.5 19.7
* The fair value represents the return that would have arisen if the derivative positions had been cleared on the balance sheet date.