ICE Futures U.S.

PJM Tri-Qualified Renewable Energy Certificates Class 1 Vintage 2019 Future

PJM Tri-Qualified Renewable Energy Certificates Class 1 Vintage 2019 Future42944133

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 V19
Commodity Code
TQE
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
New Jersey Class 1 RECs eligible for delivery are those which are eligible to 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

Trading Hours

CityTradingPre-Open
New York7:50 PM - 6:00 PM*
19:50 - 18:00
7:40 PM
19:40
London12:50 AM - 11:00 PM*
00:50 - 23:00
12:40 AM
00:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Codes

Clearing Admin Name
REC-PJM C1
Physical
TQE
Logical
TQE
GMI(FC)
R&N A.C.N.