Asset Class Navigation

Palo Verde Day-Ahead Off-Peak Calendar-Month 5 MW Future 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
Product Code CME Globex: OVL
CME ClearPort: OVD
Clearing: OVD
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 shall be equal to the final settlement price for the Palo Verde Day-Ahead Off-Peak Fixed Price Future, as reported by the IntercontinentalExchange (ICE Futures U.S.).
Termination Of Trading On the second to last business day of the month prior to the contract month, each OVD/OVL open position U6 converts into a strip of Palo Verde Day-Ahead Off-Peak Calendar-Day 5 MW Futures - QVD/QVL in the originally specified contract month.
Days Or Hours "Peak Days" shall mean Monday through Saturday, excluding North American Electric Reliability Corporation (NERC) holidays.
"Off-Peak Days” shall mean Sundays and NERC holidays.

"Off-Peak Hours" shall mean the Hours Ending (HE) 2300-0600 Prevailing Pacific Time (PPT) on Peak Days, as well as Hours Ending 0100-2400 PPT on Off-Peak Days.
Settlement Procedures Financially Settled
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 941
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing