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PJM Western Hub Day-Ahead Peak Calendar-Day 5 MW Futures Contract Specs

Contract Unit 5 MW x 16 peak hours = 80 MWh
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 16 peak hours = $4.00
Product Code CME Globex: WPL
CME ClearPort: PWP
Clearing: PWP
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 The Floating Price for each contract day will be equal to the arithmetic average of the PJM Western Hub Day-Ahead LMP for peak hours provided by PJM Interconnection, LLC (PJM), for the contract day. For settlement of this contract, the prices provided by PJM will be considered final on the Payment Date and will not be subject to any further adjustment.
Termination Of Trading Trading terminates on the business day prior to the contract day.
Days Or Hours Peak day shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.

Peak hour shall mean from Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT.
Settlement Procedures Final settlement under the contract shall be by cash settlement. Final settlement, following termination of trading for a contract day, will be based on the Floating Price. The final settlement price will be the Floating Price calculated for each contract day.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 950
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing