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ICE Futures U.S.

ERCOT West 345KV Real-Time 7x8 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 ERCOT for the location specified in Reference Price A.

Market Specifications

Trading Screen Product Name
Off-Peak Futures (1 MW)
Trading Screen Hub Name
ERCOT West 345KV Hub RT Off-Peak 7x8
Contract Symbol
ECL
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, or as otherwise determined by the Exchange
Last Trading Day
The last Business Day of the Contract Period
Final Settlement
Reference Price A
REFERENCE PRICE A
ELECTRICITY-ERCOT-WEST 345KV HUB-REAL TIME
a) Description
"ELECTRICITY-ERCOT-WEST 345KV HUB-REAL TIME" 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 ERCOT here.
b) Pricing Date
Each day that prices are reported for the Delivery Date
c) Specified Price
For each Monday through Sunday, the average of SPPs for all hours ending 0100-0600, 2300-2400 CPT
d) Pricing Calendar
ERCOT
e) Delivery Date
Contract Period
Final Payment Date
The sixth 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
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

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

Codes

Clearing Admin Name
ERCOT OP Mini
Physical
ECL
Logical
ECL
GMI (FC)
Q*
ION A.C.N.
Symbol Code
ECL