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

Contract Unit 5 MW (80 MWh) 
5 MW x 16 Peak Hours = 80 MWh
Clears in multiples of the number of peak days in the contract month.
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 16 peak hours x # peak days/month = $15.20 - $18.40
Product Code CME Globex: YWE
CME ClearPort: EWE
Clearing: EWE
Listed Contracts Monthly contracts listed for the current year and the next 5 calendar years. List monthly contracts for a new calendar year 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) West 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 1034.10 and will not be subject to any further adjustment.
Termination Of Trading On the second to last business day of the month prior to the contract month, each EWE/YWE open position converts into a strip of ERCOT West 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Futures - EWW/EAW 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 West 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 1034
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing