Your browser is unsupported

Description

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

Market Specifications

Trading Screen Product Name

REC-PJM Futures

Trading Screen Hub Name

REC-PJM CI

Contract Symbol

PPR

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. The Exchange may list monthly contracts in the Standard Cycle or any other calendar month it determines for the current year and forward for up to ten years.

2. The Standard Cycle is: January, February, March, April, May, June, July, August, September, October, November and December

Last Trading Day

Three Business Days prior to the last Business Day of the delivery month
The last weekday of December is not considered a Business Day, unless otherwise determined and announced by the Exchange.

Deliverable Instruments

Class I RECs eligible for delivery are those which are eligible to meet the Class I or Tier 1/I 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 I 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

Related Products

• Option on California Carbon Allowance Vintage 2025 Future (Futures Style Margining)
• California Carbon Allowance Vintage 2026 Future
• Option on California Carbon Allowance Vintage 2026 Future
• New Jersey Solar Renewable Energy Certificate Future
• Regional Greenhouse Gas Initiative Vintage 2026 Future
Show More

Trading Hours

Codes