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ERCOT North 345 kV Hub Day-Ahead 5 MW Peak Futures Contract Specs

Contract Unit 5 MWh
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. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation $0.01 per MWh
Product Code CME Globex: EAC
CME ClearPort: ERE
Clearing: ERE
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) North 345 kV Hub Day-Ahead settlement point 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 1035.10 and will not be subject to any further adjustment.
Termination Of Trading Trading terminates on the second to last business day of the month before the contract month. At that time, a position in ERCOT North 345 kV Hub Day-Ahead 5 MW Peak Futures (ERE) converts to a strip of ERCOT North 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Futures (ERW)  in the originally specified contract month. For example, in a twenty-two (22) peak-day month, a position of twenty-two (22) ERCOT North 345 kV Hub Day-Ahead 5 MW Peak Futures (ERE) converts at the termination of trading to a position of one (1) ERCOT North 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Futures (ERW) per peak day  in the originally specified contract month.
Days Or Hours "Peak day" shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.

From Hour Ending (HE) 0700 Central Prevailing Time (CPT) through HE 2200 CPT.
Settlement Procedures Delivery under the ERCOT North 345 kV Hub Day-Ahead 5 MW Peak 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 1035
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing