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 June 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 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 Green‐e® 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

Margin Unit US Dollars