NODAL EXCHANGE CONTRACT SPECIFICATION

PJM AVONLAK220 KVUN9 Monthly Day Ahead Off-Peak Energy + Congestion 

Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial Off-Peak Energy + Congestion PJM AVONLAK220 

KVUN9, Day Ahead

Contract Code HTL

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, which is equal to 1 MW for each hour of the contract

Lot Size

Variable, expressed in MWh. For each contract the Lot Size will equal 1 MW 

multiplied by the number of Off-Peak hours within the month traded, so in a month 

with 400 Off-Peak hours, the lot size equals 400 MWh. The definition of Off-Peak 

hours is Hour Ending (HE) 0100 – 0700 and HE 2400, Monday through Friday, EPT 

and all hours for Saturday, Sunday, and all NERC Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 49 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the dayahead hourly Energy of PJM WESTERN HUB plus the day-ahead hourly Congestion 

price of AVONLAK220 KVUN9 for all Off-Peak hours in the contract month. These 

prices can be found at the following link or at successor location 

https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars
NODAL EXCHANGE CONTRACT SPECIFICATION

PJM AVONLAK220 KVUN9 Monthly Day Ahead On-Peak Energy + Congestion 

Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial On-Peak Energy + Congestion PJM AVONLAK220 

KVUN9, Day Ahead

Contract Code HTK

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, which is equal to 1 MW for each hour of the contract

Lot Size

Variable, expressed in MWh. For each contract the Lot Size will equal 1 MW 

multiplied by the number of On-Peak hours within the month traded, so in a month 

with 336 On-Peak hours, the lot size equals 336 MWh. The definition of On-Peak 

hours is Hour Ending (HE) 0800 – 2300 Monday through Friday, EPT, excluding NERC 

Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 49 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the dayahead hourly Energy of PJM WESTERN HUB plus the day-ahead hourly Congestion 

price of AVONLAK220 KVUN9 for all On-Peak hours in the contract month. These 

prices can be found at the following link or at successor location 

https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars
NODAL EXCHANGE CONTRACT SPECIFICATION

PJM CHESWICK24 KVUNIT1 Monthly Day Ahead Off-Peak Energy + Congestion 

Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial Off-Peak Energy + Congestion PJM CHESWICK24 

KVUNIT1, Day Ahead

Contract Code GHB

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, which is equal to 1 MW for each hour of the contract

Lot Size

Variable, expressed in MWh. For each contract the Lot Size will equal 1 MW 

multiplied by the number of Off-Peak hours within the month traded, so in a month 

with 400 Off-Peak hours, the lot size equals 400 MWh. The definition of Off-Peak 

hours is Hour Ending (HE) 0100 – 0700 and HE 2400, Monday through Friday, EPT 

and all hours for Saturday, Sunday, and all NERC Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 49 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the dayahead hourly Energy of PJM WESTERN HUB plus the day-ahead hourly Congestion 

price of CHESWICK24 KVUNIT1 for all Off-Peak hours in the contract month. These 

prices can be found at the following link or at successor location 

https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars
NODAL EXCHANGE CONTRACT SPECIFICATION

PJM CHESWICK24 KVUNIT1 Monthly Day Ahead On-Peak Energy + Congestion 

Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial On-Peak Energy + Congestion PJM CHESWICK24 

KVUNIT1, Day Ahead

Contract Code GHA

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, which is equal to 1 MW for each hour of the contract

Lot Size

Variable, expressed in MWh. For each contract the Lot Size will equal 1 MW 

multiplied by the number of On-Peak hours within the month traded, so in a month 

with 336 On-Peak hours, the lot size equals 336 MWh. The definition of On-Peak 

hours is Hour Ending (HE) 0800 – 2300 Monday through Friday, EPT, excluding NERC 

Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 49 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the dayahead hourly Energy of PJM WESTERN HUB plus the day-ahead hourly Congestion 

price of CHESWICK24 KVUNIT1 for all On-Peak hours in the contract month. These 

prices can be found at the following link or at successor location 

https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars
NODAL EXCHANGE CONTRACT SPECIFICATION

PJM MANSFIEL17 KVUN1 Monthly Day Ahead Off-Peak Energy + Congestion 

Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial Off-Peak Energy + Congestion PJM MANSFIEL17 

KVUN1, Day Ahead

Contract Code HJN

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, which is equal to 1 MW for each hour of the contract

Lot Size

Variable, expressed in MWh. For each contract the Lot Size will equal 1 MW 

multiplied by the number of Off-Peak hours within the month traded, so in a month 

with 400 Off-Peak hours, the lot size equals 400 MWh. The definition of Off-Peak 

hours is Hour Ending (HE) 0100 – 0700 and HE 2400, Monday through Friday, EPT 

and all hours for Saturday, Sunday, and all NERC Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 49 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the dayahead hourly Energy of PJM WESTERN HUB plus the day-ahead hourly Congestion 

price of MANSFIEL17 KVUN1 for all Off-Peak hours in the contract month. These 

prices can be found at the following link or at successor location 

https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars
NODAL EXCHANGE CONTRACT SPECIFICATION

PJM MANSFIEL17 KVUN1 Monthly Day Ahead On-Peak Energy + Congestion 

Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial On-Peak Energy + Congestion PJM MANSFIEL17 

KVUN1, Day Ahead

Contract Code HJM

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, which is equal to 1 MW for each hour of the contract

Lot Size

Variable, expressed in MWh. For each contract the Lot Size will equal 1 MW 

multiplied by the number of On-Peak hours within the month traded, so in a month 

with 336 On-Peak hours, the lot size equals 336 MWh. The definition of On-Peak 

hours is Hour Ending (HE) 0800 – 2300 Monday through Friday, EPT, excluding NERC 

Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 49 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the dayahead hourly Energy of PJM WESTERN HUB plus the day-ahead hourly Congestion 

price of MANSFIEL17 KVUN1 for all On-Peak hours in the contract month. These 

prices can be found at the following link or at successor location 

https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars
NODAL EXCHANGE CONTRACT SPECIFICATION

PJM ZIMMER225 KVZM1_A Monthly Day Ahead Off-Peak Energy + Congestion 

Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial Off-Peak Energy + Congestion PJM ZIMMER225 

KVZM1_A, Day Ahead

Contract Code HSV

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, which is equal to 1 MW for each hour of the contract

Lot Size

Variable, expressed in MWh. For each contract the Lot Size will equal 1 MW 

multiplied by the number of Off-Peak hours within the month traded, so in a month 

with 400 Off-Peak hours, the lot size equals 400 MWh. The definition of Off-Peak 

hours is Hour Ending (HE) 0100 – 0700 and HE 2400, Monday through Friday, EPT 

and all hours for Saturday, Sunday, and all NERC Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 49 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the dayahead hourly Energy of PJM WESTERN HUB plus the day-ahead hourly Congestion 

price of ZIMMER225 KVZM1_A for all Off-Peak hours in the contract month. These 

prices can be found at the following link or at successor location 

https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars
NODAL EXCHANGE CONTRACT SPECIFICATION

PJM ZIMMER225 KVZM1_A Monthly Day Ahead On-Peak Energy + Congestion 

Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial On-Peak Energy + Congestion PJM ZIMMER225 

KVZM1_A, Day Ahead

Contract Code HSU

Hours of Trading As defined at http://www.nodalexchange.com

Unit of Trading 1 lot, which is equal to 1 MW for each hour of the contract

Lot Size

Variable, expressed in MWh. For each contract the Lot Size will equal 1 MW 

multiplied by the number of On-Peak hours within the month traded, so in a month 

with 336 On-Peak hours, the lot size equals 336 MWh. The definition of On-Peak 

hours is Hour Ending (HE) 0800 – 2300 Monday through Friday, EPT, excluding NERC 

Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day The first business day after the last trading day of the current expiring contract

Last Trading Day The sixth business day following the last calendar day of the month

Contract Series 49 months

Fixed Price The traded price or the previous day's settlement price

Daily Settlement Price Determined by the Exchange based on exchange activity, other market data, and 

extrapolation to traded contracts, as appropriate

Final Settlement Price

The final settlement price will be determined by the Exchange at approximately 3 pm 

EPT on the Last Trading Day. The final settlement price is the average of the dayahead hourly Energy of PJM WESTERN HUB plus the day-ahead hourly Congestion 

price of ZIMMER225 KVZM1_A for all On-Peak hours in the contract month. These 

prices can be found at the following link or at successor location 

https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date The first business day following the Last Trading Day

Position Limit https://www.nodalexchange.com/files/autogenerated/Nodal_Rulebook_Appendix_

C-Limits_and_Levels.PDF

Margin Unit US Dollars