PJM Tri-Qualified Renewable Energy Certificates Class 1 Vintage 2015 Future33264311

Description

Physically delivered Class 1 and Tier 1 Renewable Energy Certificates (“Class 1 RECs”) where a REC is an electronic certificate issued by the PJM Environmental Information System Generation Attribute Tracking System ("PJM GATS") for generation simultaneously qualifying for the Pennsylvania, New Jersey and Maryland Class 1 portions of the Renewable Portfolio Standard programs.

Market Specifications

Trading Screen Product Name
REC-PJM Futures
Trading Screen Hub Name
REC-PJM C1 V15
Commodity Code
TQA
Settlement Method
Physical delivery
Contract Size
100 MWh representing 100 Qualifying Class 1 RECs
Currency
USD
Minimum Price Fluctuation
The price quotation convention shall be One cent ($0.01) per MWh; minimum price fluctuation may vary by trade type. Please see Table in Resolution 1 to this Chapter 18.
Listing Cycle
1. Standard-cycle contract listings: Monthly contract sets through the current Year and forward up to 10 consecutive Years.
2. The Exchange may list any other calendar month contract set off the standard-cycle listing schedule through the last expiring contract set.
Last Trading Day
Three Business Days prior to the last Business Day of the delivery month
Deliverable Instruments
Class 1 RECs eligible for delivery are those which are eligible to meet the Class 1 requirements in each of the states of Pennsylvania, New Jersey and Maryland where; the Pennsylvania requirements are specified in Pennsylvania Statutes Title 73 Chapter 18F; the New Jersey requirements are specified in N.J.A.C. 14:8-2-3; and the Maryland requirements are specified in Maryland Annotated Code, Public Utility Companies Article, § 7-701 – 7-713 and in the Code of Maryland Regulations as implemented through Title 20, Subtitle 61.

Class 1 RECs acceptable for delivery are those having a vintage year designation that corresponds to the specified vintage year of the expiring contract. Applicable to the Maryland vintage-year designation only and only for the expiry months of January through July, sellers have the option to deliver a vintage designation that corresponds to the specified vintage year of the expiring contract or one that is one year earlier.
Registry
PJM GATS
MIC Code
IFED
Clearing Venues
ICEU