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ERCOT Houston 345 kV Hub 5 MW Off-Peak Futures Contract Specs

Contract Unit 5 Megawatts hours (MWh)
Price Quotation The contract quantity shall be 5 Megawatt hours (MWh). Transaction sizes for trading any contract month shall be restricted to whole number multiples of the number of off-peak hours in the contract month. Each futures contract shall be valued as 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)
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: AI2
CME ClearPort: I2
Clearing: I2
Listed Contracts 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
Settlement Method Deliverable
Floating Price The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Houston 345 kV Hub real-time settlement point off-peak prices provided for the contract month. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 277.09 and will not be subject to any further adjustment.
Termination Of Trading Trading shall cease on the last business day of the month preceding the contract month/ At the termination of trading, positions in the ERCOT Houston 345 kV Hub 5 MW Off-Peak Futures will cascade into a strip of ERCOT Houston 345 kV Hub 5 MW Off-Peak Calendar-Day Futures (Clearing Code I4/CME Globex Code AI4).
Days Or Hours Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0600 and 2300 and 2400 Central Prevailing Time (CPT) and Saturday through Sunday HE 0100-2400 CPT including North American Electric Reliability Corporation holidays
Settlement Procedures Delivery under the 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 277
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing