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ICE Futures U.S.

ISO New England Massachusetts Hub Day-Ahead Off-Peak Fixed Price Future

Description

A monthly cash settled Exchange Futures Contract based upon the mathematical average of daily prices calculated by averaging the off-peak hourly electricity prices published by ISO New England for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name
Off-Peak Futures (1 MW)
Trading Screen Hub Name
Nepool MH DA Off-Peak
Contract Symbol
NOP
Settlement Method
Cash settlement
Contract Size
1 MW
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
Up to 50 consecutive monthly Contract Periods
Last Trading Day
The last Business Day of the Contract Period
Final Settlement
Average of Reference Price A prices
REFERENCE PRICE A
ELECTRICITY-ISO NEW ENGLAND-MASS HUB-DAY AHEAD
a) Ref Price A - Description
"ELECTRICITY-ISO NEW ENGLAND-MASS HUB-DAY AHEAD" means that the price for a Pricing Date will be that day's Specified Price per MWh of electricity for delivery on the Delivery Date, stated in U.S. Dollars, published by the ISO New England at http://www.iso-ne.com/markets, under the headings "Hourly Data: Selectable Hourly LMP Data: 4000_:_.H.INTERNAL_HUB: Start Date/End Date: LMP prices for Day-ahead and Real-time: Day Ahead LMP" or any successor headings, that reports prices effective on that Pricing Date.
b) Ref Price A - Pricing Date
Each day that prices are reported for the Delivery Date
c) Ref Price A - Specified Price
For each Monday through Friday, excluding NERC holidays, the average of LMPs for all hours ending 0100-0700, 2400 EPT; for each Saturday, Sunday, and NERC holiday, the average of LMPs for all hours ending 0100-2400 EPT
d) Ref Price A - Pricing calendar
ISO New England
e) Ref Price A - Delivery Date
Contract Period
Final Payment Date
The second Clearing Organization business day following the Last Trading Day
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
London11:50 PM - 10:00 PM*
23:50 - 22:00
11:40 PM
23:40
Singapore7:50 AM - 6:00 AM*
07:50 - 06:00
7:40 AM
07:40

*Next Day

Sunday Pre-Open 5:10 PM ET; Closed on Saturday

Codes

Clearing Admin Name
Pwr East OPMini
Physical
NOP
Logical
NOP
GMI (FC)
NO
ION A.C.N.
L060
Symbol Code
NOP