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Chicago Climate Futures Exchange® (CCFE®), a Commodity Futures Trading Commission regulated Designated Contract Market, announced today the successful completion of the first-ever physical delivery of a Renewable Energy Certificate (REC) futures contract, which was completed on Aug. 5, 2009.
100 CCFE Jul-09 REC NJ contracts, representing 10,000 megawatt hours (MWh) of New Jersey Class 1 RECs, expired and were physically delivered through the PJM Generation Attribute Tracking System (GATS). Delivery is a three consecutive business day process coordinated by The Clearing Corporation. Integrys Energy Services, Inc and Element Markets LLC were parties to this landmark transaction.
“The CCFE has provided a financial tool that adds much needed liquidity in the REC markets. The launch and use of the contracts sends a clear message that the markets are maturing and progressing toward a more standardized product,” said Element Markets Director of Trading Eric Winter. “The ability to financially trade and clear on a federally regulated exchange provides a level of price discovery and transparency absent in a strictly OTC market.”
In addition to the REC NJ contract, CCFE also lists standardized futures contracts requiring delivery of Connecticut (REC CT) and Massachusetts (REC MA) Class 1 RECs, and voluntary Green-e® Energy National Standard eligible RECs (REC-V).
Current open interest across all of the RECs traded on CCFE is at a record high of 1,100 contracts.
For a complete list of products please visit: http://ccfe.com/about_ccfe/products.html
For complete price, volume and open interest information please visit: http://www.ccfe.com/mktdata_ccfe/index.jsf
