PJM Western Hub Peak Calendar-Month Real-Time LMP
Futures and Options
PJM Western Hub Peak Calendar-Month Real-Time LMP 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. |
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| 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 x # peak days/month = $76.00 - $92.00 |
| Product Code | CME Globex: AL1 CME ClearPort: L1 Clearing: L1 |
| 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 the PJM Western Hub Real-Time LMP for peak hours provided by PJM Interconnection, LLC (PJM) for the contract month. |
| Termination of Trading | On the last business day of the month prior to the contract month, each L1/AL1 open position converts into a strip of PJM Western Hub Real-Time Peak Calendar-Day 5 MW Futures - JD/JDL 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) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT |
| Settlement Procedures | Delivery under PJM Western Hub Peak Calendar-Month Real-Time LMP Futures 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. |
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