WASHINGTON DC, August 3, 2023
Nodal Exchange today announced significant growth in power and environmental futures in July 2023. Nodal achieved a calendar month record for July with power futures volume of 179 TWh, up 39% from July 2022. The majority of U.S. power futures open interest is on Nodal Exchange with 1.261 billion MWh representing $111 billion of notional value based on both sides as of the end of July 2023.
Nodal also saw strong performance in its environmental products. Open interest (OI) during the month hit a record open interest of 282,151 lots during the month. Environmental markets on Nodal ended July at 242,344 lots, up 27% from 191,223 lots a year earlier. July also marked the largest delivery month ever for environmental markets, with more than 40,000 lots delivered. Deliveries massively topped the prior record of 17,843 lots delivered in July 2022.
Other highlights in July included:
- Record OI in RECs offered on Nodal of 244,156 lots
- Record OI in PJM-related contracts of 149,924 lots
- Record OI in Texas CRS wind and Texas CRS solar RECs of 52,600 lots
- Record OI in the recently launched Washington Carbon Allowance Futures of 3,674 lots
Nodal, in collaboration with IncubEx, offers the world’s largest exchange listed suite of environmental products.
“It is a pleasure to see such continued growth with new records set, Nodal Exchange is proud to serve the power, natural gas and environmental markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We sincerely appreciate the ongoing support from our trading and clearing community.”
Nodal Exchange Public Relations
Nodal Exchange is a derivatives exchange providing price, credit and liquidity risk management solutions to participants in the North American commodities markets. Nodal Exchange is a leader in innovation, having introduced the world’s largest set of electric power locational (nodal) futures contracts and the world’s largest set of environmental contracts. As part of EEX Group, a group of companies serving international commodity markets, Nodal Exchange currently offers over 1,000 contracts on hundreds of unique locations, providing the most effective basis risk management available to market participants. In addition, Nodal Exchange offers natural gas contracts. All Nodal Exchange contracts are cleared by Nodal Clear which is a CFTC registered derivatives clearing organization. Nodal Exchange is a designated contract market regulated by the CFTC.