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CAISO NP15 EZ Gen Hub 5 MW Off-Peak Calendar-Day Day-Ahead LMP Futures Contract Specs

Contract Unit 5 MWh
Clears in multiples of the number of off-peak hours in the contract day.
Price Quotation U.S. dollars and cents per MWh
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Minimum Price Fluctuation 0.01 x 5 MW x # off-peak hours/day
Product Code CME Globex: 2ZW
CME ClearPort: 2Z
Clearing: 2Z
Listed Contracts Daily contracts listed for the current month and next calendar month. List daily contracts for a new calendar month following the termination of trading in the last contract day of the current month.
Settlement Method Financially Settled
Floating Price A Daily Floating Price will be determined for the off-peak day. The Floating Price will be equal to the arithmetic average of the hourly day-ahead Locational Marginal Prices (LMP) for NP15 EZ Gen Hub provided by the California ISO (CAISO) for the off-peak day.For settlement of this contract, the prices provided by CAISO will be considered final on the payment day stated in Rule 348.09 and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex terminates on the business day prior to the contract day.
CME ClearPort: Trading terminates on the contract day. If the contract day is not a business day, trading terminates on the prior business day.
Days Or Hours Off-Peak shall mean Monday through Saturday Hour Ending (HE) 0100-0600 and 2300 through 2400 Pacific Prevailing Time (PPT) and Sunday HE 0100-2400 PPT including North American Electric Reliability Corporation holidays.
Settlement Procedures Delivery under the contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 348
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing