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Palo Verde Day-Ahead 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: PVL
CME ClearPort: PVD
Clearing: PVD
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 Peak Fixed Price Future, as reported by the IntercontinentalExchange (ICE Futures U.S.).
Termination Of Trading On the last business day of the month prior to the contract month, each PVD/PVL open position converts into a strip of Palo Verde Day-Ahead Peak Calendar-Day 5 MW Futures - VDP/VLD in the originally specified contract month.
Days Or Hours "Peak Days" shall mean Monday through Saturday, excluding North American Electric Reliability Corporation (NERC) holidays.

"Peak Hours" shall mean the Hours Ending (HE) 0700-2200 Prevailing Pacific Time (PPT) on Peak Days.
Settlement Procedures Financially Settled
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 939
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing