ISO New England North East Massachusetts Zone 5 MW Off-Peak Calendar-Month Day-Ahead LMP
Futures
ISO New England North East Massachusetts Zone 5 MW Off-Peak Calendar-Month Day-Ahead LMP Futures - Contract Specs
| Contract Unit | 5 MWh Clears in multiples of the number of off-peak hours in the contract month. |
|---|---|
| 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 # off-peak hours/month |
| Product Code | CME Globex: AP8 CME ClearPort: P8 Clearing: P8 |
| 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 | Financially Settled |
| Floating Price | The Floating Price will be determined for each contract month. The Floating Price will be equal to the arithmetic average of the ISO New England North East Massachusetts Zone Day-Ahead LMP provided by ISO New England for all off-peak hours in the contract month. For settlement of this contract, the prices provided by ISO New England will be considered final on the payment day stated in Rule 596.09 and will not be subject to any further adjustment. |
| Termination of Trading | Trading on CME Globex terminates on the last business day of the month prior to the contract month. Trading terminates on the last business day of the contract month. |
| Days or Hours | Off-Peak shall mean Monday through Friday Hour Ending (HE) 0100-0700 and 2400 Eastern Prevailing Time (EPT) Saturday-Sunday HE 0100-2400 EPT including North American Electric Reliability Corporation Holidays. |
| Settlement Procedures | Delivery under the ISO New England North East Massachusetts Zone 5MW Off-Peak Calendar-Month Day-Ahead LMP 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 |
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