CME NYMEX: AL1 PJM Western Hub Peak Calendar-Month Real-Time LMP Futures prices chart

PJM Western Hub Peak Calendar-Month Real-Time LMP Futures (CME NYMEX: AL1) Contract Specifications

Product Code: CME Globex: AL1, CME ClearPort: L1, Clearing: L1

Contract Unit:
(1) 5 MW (80 MWh)
(2) 5 MW x 16 peak hours = 80 MWh
(3) Clears in multiples of the number of peak days in the contract month.

Price Quotation: U.S. dollars and cents per MWh
Minimum Price Fluctuation: 0.05 x 5 MW x 16 peak hours x # peak days/month = $76.00 - $92.00
Settlement Method: Deliverable

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.

Floating Price: The Floating Price for each contract month will be equal to the arithmetic average of the PJM Western Hub Real-Time LMP for peak hours provided by PJM Interconnection, LLC (PJM) for the contract month.

Days or Hours:
(1) “Peak day” shall mean a Monday through Friday, excluding North American Electric Reliability Corporation holidays.
(2) From Hour Ending (HE) 0800 Eastern Prevailing Time (EPT) through HE 2300 EPT

Settlement Procedures: Delivery under PJM Western Hub Peak Calendar-Month Real-Time LMP Futures 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.

Termination of Trading: On the last business day of the month prior to the contract month, each L1/AL1 open position converts into a strip of PJM Western Hub Real-Time Peak Calendar-Day 5 MW Futures - JD/JDL in the originally specified contract month.

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)