Are power contracts traded on any stock markets ? What about OTC markets ? I ask about the derivatives where payoff is some exponential function of difference between strike and spot price.
Stock markets? Not that I know of. I would say ICE and NYMEX have OTC power contracts but I believe they have pretty big margins and account minimums for that kind of contract. Just at looking at today's settlements I see very little traded on Clearport.
Levered ETFs have the behavior similar to power contracts, but there aren't any listed options. Some banks should be able to sell you OTC contracts, although I doubt you can do any arbitrage like trade if you are hoping to do - the bid and ask will kill you!