ERCOT Houston 345 kV Hub 5 MW Peak Calendar-Day
Futures
ERCOT Houston 345 kV Hub 5 MW Peak Calendar-Day 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 | 0.01 x 5 MW x 16 peak hours = $0.80 |
| Product Code | CME Globex: AI3 CME ClearPort: I3 Clearing: I3 |
| 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 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) Houston peak prices provided for the contract day. 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. |
| Termination of Trading | Trading on CME Globex terminates at 23:59 CPT on the contract day. If that time is not within regular trading hours, trading on CME Globex terminates at 16:00 CT on the business day prior to the contract day. Trading terminates on the contract day. If the contract day is not a business day trading terminates on the prior business day. |
| Days or Hours | "Peak day" shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays. From Hour Ending (HE) 0700 Central Prevailing Time (CPT) through HE 2200 CPT. |
| Settlement Procedures | Delivery under the ERCOT Houston 345 kV Hub 5 MW Peak Calendar-Day 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. |
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