The monthly and daily contracts will provide risk management for the day-ahead market in the Electric Reliability Council of Texas (Ercot) and will settle based on Ercot broker indices published by SNL Energy.
The new New York Mercantile Exchange (Nymex) Ercot electricity futures contracts will be available for trading and clearing on Nymex ClearPort. The first monthly contracts will be April 2008 and the daily contracts will be March 10, 2008.
All of the Ercot monthly contracts will be listed for 36 consecutive months with the exception of the Nymex Ercot broker seller’s choice index peak futures contract which will be listed through November 2008. The contracts will be 800MWh in size with a minimum price fluctuation of $0.01 per MWh.
