CONTRACTS

Nodal Exchange offers futures contracts for on-peak and off-peak power at commercially significant hubs, zones, and nodes in the following electric markets: ISO-NE, NYISO, PJM, MISO, ERCOT, SPP and CAISO, as well as Mid-C. Contracts are for monthly terms for both peak and off-peak time periods. Contracts for select locations are available for more granular off-peak periods (e.g., 7×8 and 2×16). Contracts are available for settlement to Locational Marginal Price (LMP), Energy + Congestion, or Energy only prices as published by the RTOs/ISOs, creating flexibility for participants to hedge positions for LMP and its components of Energy, Congestion, and Loss as appropriate. Nodal Exchange also offers a Henry Hub natural gas contract.

Nodal Clear’s service, EnergyClear, coordinates the clearing and settlement of Nodal Exchange’s financially settled energy contracts.

CONTRACT RESOURCES

Contract Parameters

  • Location (hub, zone, or node)
  • On-peak or Off-peak (power contracts only)
  • Monthly term
    • Power: Available expiries vary by location – current month plus 68 months on over 90 locations and at least current month plus 12 months on all other locations
    • Natural gas: 68 month series beginning with prompt month
  • Unit of trading
    • Power: 1 MW x hrs/month
    • Natural gas: 2,500 MMBtu per month
  • Commodity
    • Day Ahead Locational Marginal Price (LMP) of power: available for most locations
    • Real Time LMP of power: available for select locations
    • Energy component of LMP: available for PJM, NYISO, ISO-NE and MISO
    • Energy + Congestion component of LMP: available for select locations
    • Natural gas: available for Henry Hub