NODAL EXCHANGE CONTRACT SPECIFICATION

PJM WESTERN HUB Monthly Day Ahead On-Peak Power Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial On-Peak Power, PJM WESTERN HUB, Day Ahead

Contract Code FHK

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

Unit of Trading 1 lot, based on 1 MW for each hour of the contract

Lot Size

Variable, expressed in megawatt hour (MWh). The Lot Size will equal 1 MW 

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

with 332 On-Peak hours, the Lot Size equals 332 MWh. The definition of On-Peak 

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

Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day One additional year of expiries will be available each January on the first business 

day after the last trading day of the expiring December contract.

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

of the contract period

Contract Series Current calendar year plus 12 full calendar years

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

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

extrapolation to traded contracts, as appropriate

Final Settlement Price

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

EPT on the Last Trading Day. The final settlement price is the average of the Day 

Ahead hourly LMP for all On-Peak hours. These prices can be found at the following 

link or at successor location https://dataminer2.pjm.com/feed/da_hrl_lmps

Final Settlement (Payment) 

Date

The first business day following the Last Trading Day The third business day following 

the last calendar day of the month

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

C-Limits_and_Levels.PDF
NODAL EXCHANGE CONTRACT SPECIFICATION

PJM WESTERN HUB Monthly Real Time On-Peak Power Contract

ITEM SPECIFICATION

Contract Description Monthly Cash Settled Financial On-Peak Power, PJM WESTERN HUB, Real Time

Contract Code FKE

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

Unit of Trading 1 lot, based on 1 MW for each hour of the contract

Lot Size

Variable, expressed in megawatt hour (MWh). The Lot Size will equal 1 MW 

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

with 332 On-Peak hours, the Lot Size equals 332 MWh. The definition of On-Peak 

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

Holidays.

Currency US Dollars

Min Price Fluctuation $0.0001 per MWh

Minimum Tick $0.0001 per MWh

First Trading Day One additional year of expiries will be available each January on the first business 

day after the last trading day of the expiring December contract.

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

of the month following the contract period

Contract Series Current calendar year plus 12 full calendar years

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

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

extrapolation to traded contracts, as appropriate

Final Settlement Price

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

EPT on the Last Trading Day. The final settlement price is the average of the Real 

Time hourly LMP for all On-Peak hours. These prices can be found at the following 

link or at successor location https://dataminer2.pjm.com/feed/rt_hrl_lmps

Final Settlement (Payment) 

Date

The first business day following the Last Trading Day The third business day following 

the last calendar day of the month

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

C-Limits_and_Levels.PDF