An energy transaction in which the seller seeks to set a minimum fixed price (floor) and the buyer set a maximum price (ceiling). A floor price is a level below which the price will not be allowed to go regardless of whether escalation would normally have taken it below that floor level. So normally sellers want a ‘floor price’ while buyers want a ‘ceiling price’ i.e. one that cannot be exceeded. This differs from a base price which defines what price the escalation is applied to and the actual or effective price may be above or below that base price depending on how the escalation factors move. In the past many long term natural gas contracts had a floor and a ceiling price as an accepted form of protection for both buyer and seller. Natural gas contracts in Israel with IEC were also based on this concept