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Description

A daily cash settled Exchange Futures Contract based upon the mathematical average of 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

Trading Screen Hub Name

Nepool MH RT Off-Peak

Contract Symbol

NOH

Settlement Method

Cash settlement

Contract Size

50 MWh

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 365 consecutive daily 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-ISO NEW ENGLAND-MASS HUB-REAL-TIME

a) Description

"ELECTRICITY-ISO NEW ENGLAND-MASS 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 ISO New England here.

Final Real-Time Hourly LMPs: 4000:.H.INTERNAL_HUB: " or any successor headings, that reports prices effective on that Pricing Date.

b) Pricing Date

Each day that prices are reported for the Delivery Date

c) 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) Pricing Calendar

ISO New England

e) Delivery Date

Contract Period

Final Payment Date

The seventh Clearing Organization business day following the Last Trading Day

MIC Code

IFED

Clearing Venues

ICEU

Trading Hours

Codes