ISO New England North East Massachusetts Zone 5 MW Peak Calendar-Month Day-Ahead LMP
Futures
ISO New England North East Massachusetts Zone 5 MW Peak Calendar-Month Day-Ahead LMP Futures - Contract Specs
| Contract Unit | 80 Megawatt hours (MWh) (5 MW per peak hour). |
|---|---|
| Price Quotation | The contract quantity shall be 80 Megawatt Hours (MWH) and is based on 5 megawatts for peak daily hours. Transaction sizes for trading in any delivery month shall be restricted to whole number multiples of the number of peak days in the month. Each futures contract shall be valued at the contract quantity multiplied by the settlement price. |
| Trading Hours | CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) CME ClearPort: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT) |
| Minimum Price Fluctuation | $0.05 per MWh |
| Product Code | CME Globex: AP7 CME ClearPort: P7 Clearing: P7 |
| Listed Contracts | The current year plus the next five calendar years. A new calendar year will be added following the termination of trading in the December contract of the current year. |
| Settlement Method | Financially Settled |
| Floating Price | The Floating Price for each contract month will be equal to the arithmetic average of the ISO New England North East Massachusetts Zone Day-Ahead LMP for peak hours provided by ISO New England for the contract month. For settlement of this contract, the prices provided by ISO New England will be considered final on the payment date stated in Rule 595.10 and will not be subject to any further adjustment |
| Termination of Trading | Trading on CME Globex shall cease on the last business day of the month prior to the contract month. Trading shall cease on the last business day of the contract month. |
| Days or Hours | "Peak day" shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays. From Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT. |
| Settlement Procedures | Delivery under the 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. |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes |
