Rule Amendments for ERCOT Electricity Futures Contracts

Effective, December 1, 2010, the New York Mercantile Exchange, Inc. (NYMEX) is implementing amendments to contract titles, floating price rules, and final settlement rules for its existing 32 Electric Reliability Council of Texas (ERCOT) futures contracts (listed below for your reference) as a result of ERCOT’s transition from their current zonal pricing of transmission congestion to nodal locational marginal pricing scheduled for December 1, 2010.  The amendments are reflected in blackline format below.

Should you have any questions or require any further information, please contact Bradford Leach at 212-299-2609.

(UNDERSCORE denotes addition; Strikethrough denotes deletion)

Chapter 186

ERCOT Houston Zone MCPE 345 kV Hub 50 MW Peak Swap Futures

186.02              FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Houston Zone Market Clearing Price for Energy (MCPE) 345 kV Hub real-time settlement point peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT Houston (LMP-EEI) Delivery Point Definition, Version 1.0, 4/20/2006 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 186.10 and will not be subject to any further adjustment.

186.09              FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 50 MW Peak Swap 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.

Chapter 187

ERCOT Houston Zone MCPE 345 kV Hub 50 MW Off-Peak Swap Futures

187.02              FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Houston Zone Market Clearing Price for Energy (MCPE) 345 kV Hub real-time settlement point off-peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT Houston (LMP-EEI) Delivery Point Definition, Version 1.0, 4/20/2006 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 187.09 and will not be subject to any further adjustment.

187.08              FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 50 MW Off-Peak Swap 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.

Chapter 188

ERCOT Houston Zone MCPE 345 kV Hub 50 MW Peak Calendar-Day Swap Futures

188.02              DAILY FLOATING PRICE

The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) Houston Zone 345 kV Hub real-time settlement point  peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT Houston (LMP-EEI) Delivery Point Definition, Version 1.0, 4/20/2006 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 188.10 and will not be subject to any further adjustment.

188.09              FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 50 MW Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.

Chapter 189

ERCOT Houston Zone MCPE 345 kV Hub 50 MW Off-Peak Calendar-Day Swap Futures

189.02              DAILY FLOATING PRICE

The Daily Floating Price will be determined for each off-peak day. The Daily Floating Price will be equal to all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) Houston Zone 345 kV Hub real-time settlement point off-peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT Houston (LMP-EEI) Delivery Point Definition, Version 1.0, 4/20/2006 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 189.09 and will not be subject to any further adjustment.

189.08              FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 50 MW Off-Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.

Chapter 190

ERCOT North Zone MCPE 345 kV Hub 50 MW Peak Swap Futures

190.02              FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) North Zone Market Clearing Price for Energy (MCPE) 345 kV Hub real-time settlement point peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT North (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 190.10 and will not be subject to any further adjustment.

190.09              FINAL SETTLEMENT

Delivery under the ERCOT North Zone MCPE 345 kV Hub 50 MW Peak Swap 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.

Chapter 195

ERCOT North Zone MCPE 345 kV Hub 50 MW Off-Peak Swap Futures

195.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) North Zone Market Clearing Price for Energy (MCPE) 345 kV Hub real-time settlement point off-peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT North (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 195.09 and will not be subject to any further adjustment.

195.08.             FINAL SETTLEMENT

Delivery under the ERCOT North Zone MCPE 345 kV Hub 50 MW Off-Peak Swap 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.

Chapter 196

ERCOT North Zone MCPE 345 kV Hub 50 MW Peak Calendar-Day Swap Futures

196.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) North Zone 345 kV Hub real-time settlement point peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT North (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 196.10 and will not be subject to any further adjustment.

196.09.             FINAL SETTLEMENT

Delivery under the ERCOT North Zone MCPE 345 kV Hub 50 MW Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.

Chapter 197

ERCOT North Zone MCPE 345 kV Hub 50 MW Off-Peak Calendar-Day Swap Futures

197.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each off-peak day. The Daily Floating Price will be equal to all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) North Zone 345 kV Hub real-time settlement point off-peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT North (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 197.09 and will not be subject to any further adjustment.

197.08.             FINAL SETTLEMENT

Delivery under the ERCOT North Zone MCPE 345 kV Hub 50 MW Off-Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.

Chapter 198

ERCOT South Zone MCPE 345 kV Hub 50 MW Peak Swap Futures

198.02.             DAILY FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) South Zone Market Clearing Price for Energy (MCPE) 345 kV Hub real-time settlement point peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 198.10 and will not be subject to any further adjustment.

198.09.             FINAL SETTLEMENT

Delivery under the ERCOT South Zone MCPE 345 kV Hub 50 MW Peak Swap 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.

Chapter 199

ERCOT South Zone MCPE 345 kV Hub 50 MW Off-Peak Swap Futures

199.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) South 345 kV Hub real-time settlement point Zone Market Clearing Price for Energy (MCPE) off-peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 199.09 and will not be subject to any further adjustment.

199.08.             FINAL SETTLEMENT

Delivery under the ERCOT South Zone MCPE 345 kV Hub 50 MW Off-Peak Swap 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.

Chapter 201

ERCOT South Zone MCPE 345 kV Hub 50 MW Peak Calendar-Day Swap Futures

201.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) South 345 kV Hub real-time settlement pointZone peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 201.10 and will not be subject to any further adjustment.

201.09.             FINAL SETTLEMENT

Delivery under the ERCOT South Zone MCPE 345 kV Hub 50 MW Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.

Chapter 202

ERCOT South Zone MCPE 345 kV Hub 50 MW Off-Peak Calendar-Day Swap Futures

202.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each off-peak day. The Daily Floating Price will be equal to all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) South 345 kV Hub real-time settlement pointZone off-peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 202.09 and will not be subject to any further adjustment.

202.08.             FINAL SETTLEMENT

Delivery under the ERCOT South Zone MCPE 345 kV Hub 50 MW Off-Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.

Chapter 203

ERCOT West Zone MCPE 345 kV Hub 50 MW Peak Swap Futures

203.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) West 345 kV Hub real-time settlement pointZone Market Clearing Price for Energy (MCPE) peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 198.10 and will not be subject to any further adjustment.

203.09.             FINAL SETTLEMENT

Delivery under the ERCOT West Zone MCPE 345 kV Hub 50 MW Peak Swap 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.

Chapter 204

ERCOT West Zone MCPE 345 kV Hub 50 MW Off-Peak Swap Futures

204.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) West 345 kV Hub real-time settlement point Zone Market Clearing Price for Energy (MCPE) off-peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT West (LMP-EEI) Delivery Point Definition, Version 1.1, 12/12/2008 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 204.09 and will not be subject to any further adjustment.

204.08.             FINAL SETTLEMENT

Delivery under the ERCOT west Zone MCPE 345 kV Hub 50 MW Off-Peak Swap 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.

Chapter 205

ERCOT West Zone MCPE 345 kV Hub 50 MW Peak Calendar-Day Swap Futures

205.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) West Zone 345 kV Hub real-time settlement point peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT West (LMP-EEI) Delivery Point Definition, Version 1.1, 12/12/2008 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 205.10 and will not be subject to any further adjustment.

205.09. FINAL SETTLEMENT

                        Delivery under the ERCOT West Zone MCPE 345 kV Hub 50 MW Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.

Chapter 208

ERCOT West Zone MCPE 345 kV Hub 50 MW Off-Peak Calendar-Day Swap

208.02.             FLOATING PRICE

The Daily Floating Price will be determined for each off-peak day. The Daily Floating Price will be equal to all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) West Zone 345 kV Hub real-time settlement point off-peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT West (LMP-EEI) Delivery Point Definition, Version 1.1, 12/12/2008 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 208.09 and will not be subject to any further adjustment.

208.08.             FINAL SETTLEMENT

Delivery under the ERCOT West Zone MCPE 345 kV Hub 50 MW Off-Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.

Chapter 276

ERCOT Houston Zone MCPE 345 kV Hub 5 MW Peak Swap Futures

276.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Houston 345 kV Hub real-time settlement point Zone Market Clearing Price for Energy (MCPE) peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT Houston (LMP-EEI) Delivery Point Definition, Version 1.0, 4/20/2006 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 276.10 and will not be subject to any further adjustment.

276.09.             FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 5 MW Peak Swap 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.

Chapter 277

ERCOT Houston Zone MCPE 345 kV Hub 5 MW Off-Peak Swap Futures

277.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Houston 345 kV Hub real-time settlement point Zone Market Clearing Price for Energy (MCPE) off-peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT Houston (LMP-EEI) Delivery Point Definition, Version 1.0, 4/20/2006 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 277.09 and will not be subject to any further adjustment.

277.08.             FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 5 MW Off-Peak Swap 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.

Chapter 278

ERCOT Houston Zone MCPE 345 kV Hub 5 MW Peak Calendar-Day Swap Futures

278.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) Houston Zone peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT Houston (LMP-EEI) Delivery Point Definition, Version 1.0, 4/20/2006 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 278.10 and will not be subject to any further adjustment.

278.09.             FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 5 MW Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.

Chapter 279

ERCOT Houston Zone MCPE 345 kV Hub 5 MW Off-Peak Calendar-Day Swap Futures

279.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each off-peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) Houston Zone 345 kV Hub real-time settlement point off-peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT Houston (LMP-EEI) Delivery Point Definition, Version 1.0, 4/20/2006 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 279.09 and will not be subject to any further adjustment.

279.08.             FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 5 MW Off-Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.

Chapter 280

ERCOT North Zone MCPE 345 kV Hub 5 MW Peak Swap Futures

280.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) North 345 kV Hub real-time settlement pointZone Market Clearing Price for Energy (MCPE) peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT North (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 280.10 and will not be subject to any further adjustment.

280.09.             FINAL SETTLEMENT

Delivery under the ERCOT North Zone MCPE 345 kV Hub 5 MW Peak Swap 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.

Chapter 281

ERCOT North Zone MCPE 345 kV Hub 5 MW Off-Peak Swap Futures

281.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) North 345 kV Hub real-time settlement pointZone Market Clearing Price for Energy (MCPE) off-peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT North (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 281.09 and will not be subject to any further adjustment.

281.08.             FINAL SETTLEMENT

Delivery under the ERCOT Houston Zone MCPE 345 kV Hub 5 MW Off-Peak Swap 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.

Chapter 282

ERCOT North Zone MCPE 345 kV Hub 5 MW Peak Calendar-Day Swap Futures

282.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) North Zone 345 kV Hub real-time settlement point peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT North (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 282.10 and will not be subject to any further adjustment.

282.09.             FINAL SETTLEMENT

Delivery under the ERCOT North Zone MCPE 345 kV Hub 5 MW Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.

Chapter 283

ERCOT North Zone MCPE 345 kV Hub 5 MW Off-Peak Calendar-Day Swap Futures

283.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each off-peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) North 345 kV Hub real-time settlement point Zone off-peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT North (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 283.09 and will not be subject to any further adjustment.

283.08.             FINAL SETTLEMENT

Delivery under the ERCOT North Zone MCPE 345 kV Hub 5 MW Off-Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.

Chapter 284

ERCOT South Zone MCPE 345 kV Hub 5 MW Peak Swap Futures

284.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) South 345 kV Hub real-time settlement pointZone Market Clearing Price for Energy (MCPE) peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 284.10 and will not be subject to any further adjustment.

284.09.             FINAL SETTLEMENT

Delivery under the ERCOT South Zone MCPE 345 kV Hub 5 MW Peak Swap 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.

Chapter 285

ERCOT South Zone MCPE 345 kV Hub 5 MW Off-Peak Swap Futures

285.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) South 345 kV Hub real-time settlement point Zone Market Clearing Price for Energy (MCPE) off-peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 285.09 and will not be subject to any further adjustment.

285.08.             FINAL SETTLEMENT

Delivery under the ERCOT South Zone MCPE 345 kV Hub 5 MW Off-Peak Swap 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.

Chapter 286

ERCOT South Zone MCPE 345 kV Hub 5 MW Peak Calendar-Day Swap Futures

286.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) South 345 kV Hub real-time settlement point Zone peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 286.10 and will not be subject to any further adjustment.

286.09.             FINAL SETTLEMENT

Delivery under the ERCOT South Zone MCPE 345 kV Hub 5 MW Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.

Chapter 287

ERCOT South Zone MCPE 345 kV Hub 5 MW Off-Peak Calendar-Day Swap Futures

287.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each off-peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) South 345 kV Hub real-time settlement point Zone off-peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT South (LMP-EEI) Delivery Point Definition, Version 1.1, 7/2/2007 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 287.09 and will not be subject to any further adjustment.

287.08.             FINAL SETTLEMENT

Delivery under the ERCOT South Zone MCPE 345 kV Hub 5 MW Off-Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.

Chapter 288

ERCOT West Zone MCPE 345 kV Hub 5 MW Peak Swap Futures

288.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) West 345 kV Hub real-time settlement point Zone Market Clearing Price for Energy (MCPE) peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT West (LMP-EEI) Delivery Point Definition, Version 1.1, 12/12/2008 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 288.10 and will not be subject to any further adjustment.

288.09.             FINAL SETTLEMENT

Delivery under the ERCOT West Zone MCPE 345 kV Hub 5 MW Peak Swap 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.

Chapter 289

ERCOT West Zone MCPE 345 kV Hub 5 MW Off-Peak Swap Futures

289.02.             FLOATING PRICE

The Floating Price for each contract month will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) West 345 kV Hub real-time settlement point Zone Market Clearing Price for Energy (MCPE) off-peak prices provided for the contract month. The designation of the Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT West (LMP-EEI) Delivery Point Definition, Version1.1, 12/12/2008 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 289.09 and will not be subject to any further adjustment.

289.08.             FINAL SETTLEMENT

Delivery under the ERCOT West Zone MCPE 345 kV Hub 5 MW Off-Peak Swap 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.

Chapter 290

ERCOT West Zone MCPE 345 kV Hub 5 MW Peak Calendar-Day Swap Futures

290.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) West 345 kV Hub real-time settlement pointZone peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT West (LMP-EEI) Delivery Point Definition, Version 1.1, 12/12/2008 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 290.10 and will not be subject to any further adjustment.

290.09.             FINAL SETTLEMENT

Delivery under the ERCOT West Zone MCPE 345 kV Hub 5 MW Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the peak day.

Chapter 291

ERCOT West Zone MCPE 345 kV Hub 5 MW Off-Peak Calendar-Day Swap Futures

291.02.             DAILY FLOATING PRICE

The Daily Floating Price will be determined for each off-peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) Market Clearing Price for Energy (MCPE) West 345 kV Hub real-time settlement pointZone off-peak prices provided for the contract day. The designation of the Daily Floating Price in this Rule is subject to Edison Electric Institute (EEI) ERCOT West (LMP-EEI) Delivery Point Definition, Version 1.1, 12/12/2008 and subsequent EEI revisions. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 291.09 and will not be subject to any further adjustment.

291.08.             FINAL SETTLEMENT

Delivery under the ERCOT West Zone MCPE 345 kV Hub 5 MW Off-Peak Calendar-Day Swap Futures contract shall be by cash settlement. The cash-settlement price will be based on the Daily Floating Price which is determined for the off-peak day.