NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2021 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBE

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2022 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBF

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOT which are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2023 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBG

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2024 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBH

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2025 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBI

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2026 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBJ

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2027 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBK

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2028 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBL

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2029 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBM

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2030 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBN

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2031 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBO

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2032 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBP

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by EROCTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2033 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBQ

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2034 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBR

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2035 Back Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TBS

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with December of the corresponding vintage year 

through December of the year following the vintage year. The exchange may list any 

other calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Back Half or BH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the last six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2021 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFE

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2022 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFF

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2023 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFG

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2024 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFH

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with May of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2025 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFI

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2026 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFJ

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2027 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFK

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2028 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFL

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2029 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFM

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by EROCTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2030 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFN

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2031 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFO

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2032 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFP

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2033 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFQ

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2034 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFR

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

Texas Compliance Renewable Energy Certificate from CRS Listed Facilities 

Vintage 2035 Front Half Future

ITEM SPECIFICATION

Contract Description

Physically delivered Texas Compliance Renewable Energy Certificates (REC) issued by 

the ERCOT Renewables Registry for qualifying wind energy production from facilities 

which are listed with the Center for Resource Solutions (CRS) as an element of CRS’ 

administration of its Green-e® certification program.

Contract Code TFS

Settlement Method Physical Delivery

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

Unit of Trading 1 lot

Lot Size 1,000 MWh representing 1,000 Texas RECs

Currency US Dollars

Minimum Tick $0.001 per MWh

Settlement Price Precision $0.001 per MWh

Last Trading Day Three Business Days prior to the last Business Day of the delivery month

Delivery Day Three Business Days after the Last Trading Day (Last Business Day of the delivery 

month)

Contract Series

Monthly contracts beginning with June of the corresponding vintage year through 

December of the year following the vintage year. The exchange may list any other 

calendar month contract set off the standard listing cycle.

Deliverable Product

Texas RECs eligible for delivery are those issued by ERCOTwhich are eligible to meet 

the REC requirements specified in the Public Utility Commission of Texas Substantive 

Rule Chapter 25, Subchapter H, Division 1 under the renewable energy trading 

program, having been generated from wind energy production technology. REC 

Offsets are not deliverable. RECs delivered must be from facilities that have a 

Tracking Attestation form on file with the Center for Resource Solutions (“CRS 

Listed”), in connection with CRS’s administration of its Green-e® certification 

programs. The Tracking Attestation form must cover the generation period of the 

RECs. Maintenance of an active Tracking Attestation form does not guarantee that a 

facility meets the requirements of any Green-e® renewable energy standards and 

does not mean that a facility’s supply is Green-e® Certified. For more information 

about Tracking Attestation forms and Green-e® certification, please visit the Greene® website at www.green-e.org. To confirm that a facility has an active Tracking 

Attestation form on file, please contact the Center for Resource Solutions at 

verification@green-e.org. For contracts which are designated as Front Half or FH, 

RECs acceptable for delivery are those that were issued for generation occurring in 

the first six calendar months of the specified vintage year.

Registry ERCOT Renewables Registry

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 Daily Settlement Price on the Last Trading Day
NODAL EXCHANGE CONTRACT SPECIFICATION

ITEM SPECIFICATION

Delivery

On the Last Trading Day, the Exchange will provide the Clearing House with 

information identifying the Participants with delivery obligations for the purpose of 

issuing Tender and invoice notices in accordance with Section IX (Physical Delivery 

and Settlement) of the Nodal Clear Rulebook.

Final Settlement (Payment) 

Date

Three or four Business Days after the Last Trading Day on the successful delivery of 

the underlying instruments (if the delivery confirmation is available by 11:30am on 

the third Business Day after the Last Trading Day, the payment will be made on the 

same day during the Midday Margin Cycle; if it is available after 11:30am, the 

payment will be made on the next Margin Cycle which will be the next Business Day)

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

C-Limits_and_Levels.PDF