CME Group launches clearing services for two new electricity swap futures contracts, scheduled to launch on 7 June for trade date 8 June.
Clearing services will be available through CME ClearPort. These contracts are listed for trading by NYMEX through CME ClearPort, and are subject to NYMEX rules and regulations.
The swap futures contracts and their commodity codes will be: PJM PECO Zone 5 MW peak calendar money day-ahead LMP (4N) and PMJ PECO Zone 5 MW off-peak calendar month day-ahead LMP (4P).Utilities and marketers will use these contracts to provide liquidity and transparency, in conjunction with the other zonal products cleared through CME ClearPort.
The first listed month will be July 2009. The contracts will be listed for current year plus the next five consecutive years. The peak contract will be 80 megawatt hours in size, and the off-peak contract will be five megawatt hours. The minimum price fluctuation will be USD0.05 per megawatt hour.
L.D.