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PJM PSEG Zone Off-Peak Calendar-Month Day-Ahead LMP Futures Contract Specs

Contract Unit 5 MWh
Clears in multiples of the number of off-peak hours 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 0.05 x 5 MW x # off-peak hours/month
Product Code CME Globex: AW6
CME ClearPort: W6
Clearing: W6
Listed Contracts Monthly contracts listed for 72 consecutive months
Settlement Method Financially Settled
Floating Price The Floating Price will be determined for each contract month. The Floating Price will be equal to the arithmetic average of the PJM PSEG Zone Day-Ahead LMP provided by PJM Interconnection, LLC (PJM) for all off-peak hours in the contract month. For settlement of this contract, the prices provided by PJM will be considered final on the payment day stated in Rule 173.09 and will not be subject to any further adjustment.
Termination Of Trading CME Globex: Trading on CME Globex terminates on the last business day of the month prior to the contract month.
CME ClearPort: Trading terminates on the last business day of the contract month.
Days Or Hours Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0700 and 2400 Eastern Prevailing Time (EPT) Saturday-Sunday HE 0100-2400 EPT including North American Electric Reliability Corporation holidays.
Settlement Procedures Delivery under the PJM PSEG Zone Off-Peak Calendar-Month Day-Ahead LMP 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 173
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing