ERCOT South 345 kV Hub 5 MW Off-Peak Calendar-Day
Futures
ERCOT South 345 kV Hub 5 MW Off-Peak Calendar-Day Futures - Contract Specs
| Contract Unit | 5 MWh Clears in multiples of the number of off-peak hours in the contract day. |
|---|---|
| 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 # off-peak hours/day |
| Product Code | CME Globex: AM1 CME ClearPort: M1 Clearing: M1 |
| 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 off-peak day. The Daily Floating Price will be equal to the arithmetic average of all Electric Reliability Council of Texas (ERCOT) South 345 kV Hub real-time settlement point off-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 287.09 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 | Off-peak shall mean Monday through Friday Hour Ending (HE) 0100-0600 and 2300 and 2400 Central Prevailing Time (CPT) and Saturday through Sunday HE 0100-2400 CPT including North American Electric Reliability Corporation holidays. |
| Settlement Procedures | Delivery under the ERCOT South 345 kV Hub 5 MW Off-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 off-peak day. |
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