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CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Month Real-Time LMP Futures Contract Specs

Contract Unit 80 Megawatt hours (MWh) (5 MW per peak hour).
Price Quotation The contract quantity shall be 80 Megawatt Hours (MWH) and is based on 5 megawatts for peak daily hours. Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of peak days in the contract month. Each futures contract shall be valued at the contract quantity multiplied by the settlement price.
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday - Friday 9:00 a.m. - 2:30 p.m. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Minimum Price Fluctuation $0.01 per MWh
Product Code CME Globex: 1Y
CME ClearPort: 1Y
Clearing: 1Y
Listed Contracts CME Globex: 36 consecutive months
CME ClearPort and Open Outcry: The current year plus the next five calendar years. A new calendar year will be added following the termination of trading in the December contract of the current year.
DEFAULT Current year plus next five years
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of the NP15 EZ Gen Hub Real-Time LMP for peak hours provided by California ISO (CAISO) for the contract month. For settlement of this contract, the prices provided by CAISO will be considered final on the payment date stated in Rule 264.10 and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex shall cease at 23:59 local time of the independent system operator/regional transmission organization on the last calendar day of the month preceding the contract month. If that time is not within CME Globex regular trading hours, trading on CME Globex shall cease at the normal termination time (i.e., 16:15 CT) on the nearest business day on or before the last calendar day of the month preceding the contract month.
CME ClearPort and Open Outcry: Trading shall cease on the last business day of the contract month.
Days Or Hours "Peak day" shall mean a Monday through Saturday, excluding North American Electric Reliability Corporation holidays.

From Hour Ending (HE) 0700 Pacific Prevailing Time (PPT) through HE 2200 PPT.
Settlement Procedures Delivery under the CAISO NP15 EZ Gen Hub 5 MW Peak Calendar-Month Real-Time LMP Futures contract shall be by cash settlement. Final settlement, following termination of trading for a contract month, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 264
Block Minimum Block Minimum Thresholds
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