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Description

Firm Physical Granular Certificates from Type 1 sources in the PJM-GATS, or succeeding organization, registry system. Each Certificate shall be deliverable for the hour in which it was generated.

Type 1 sources: wind, solar, geothermal, and renewable-charged storage¹.

¹Certificates delivered from renewable-charged storage shall be accompanied by an EAC proving that the battery was charged with energy from another Type 1 qualifying source

Market Specifications

Trading Screen Product Name

PJM GC Type 1

Trading Screen Hub Name

Hourly

Contract Symbol

TBD

Contract Series

Individual Hour Ending strips designated in EPT. Hours shall be dynamically available for a range of dates as determined by ICE. The extra hour during fall daylight savings shall be designated as HE 2500

Any contract with a Last Trading Day not prior to the auction trading day and a Contract Period no later than one calendar day prior to the trading day, excluding any contracts from prior to the last closeout of Type 1 source certificates at PJM-GATS, shall be available by flex request, or as otherwise determined by ICE

Individual contracts within the flexible range may be predefined by ICE at its sole discretion

Contract Size

1 Granular Certificate per Contract

Unit of Trading

1 Contract

Price Quotation

US Dollars and Dollar Cents per contract

Minimum Price Fluctuation

$0.01 per contract

Last Trading Day

The earlier of:
The Last Business Day of the sixth month following the contract period
The business day prior to any scheduled closeout at PJM-GATS for Type 1 source certificates

Business Days

Monday through Friday, excluding US Federal Reserve System holidays

Settlement Method

Physically Delivery intermediated by LevelTen Energy, subject to the LevelTen Granular Certificate OTC Participant Agreement

Other Terms

Subject to the Granular Certificate Procedures Annex of the ICE End User Participant Agreement

MIC Code

IEPA

Clearing Venues

Bilateral

Related Products

• PJM GATS Type 2 Spot Granular Certificates

Codes