ERCOT North 345 kV Hub Day-Ahead 5 MW Peak 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 | 0.01 x 5 MW x 16 peak hours x # peak days/month |
| Product Code | CME Globex: EAC CME ClearPort: ERE Clearing: ERE |
| 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 all Electric Reliability Council of Texas (ERCOT) North 345 kV Hub Day-Ahead settlement point peak prices provided for the contract month. For settlement of this contract, the prices provided by ERCOT will be considered final on the payment date stated in Rule 1035.10 and will not be subject to any further adjustment. |
| Termination of Trading | On the second to last business day of the month prior to the contract month, each ERE/EAC open position converts into a strip of ERCOT North 345 kV Hub Day-Ahead 5 MW Peak Calendar-Day Futures - ERW/YRW 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) 0700 Central Prevailing Time (CPT) through HE 2200 CPT. |
| Settlement Procedures | Delivery under the ERCOT North 345 kV Hub Day-Ahead 5 MW Peak 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. |
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