Washington DC, February 7, 2023
Nodal Exchange today announced it achieved a calendar month trading record for January 2023 with 270.8 million MWh of traded power futures volume in the month, up 22% from the prior year. Nodal continues to be the market leader in North American power futures having the majority of the open interest with 1.13 billion MWh at the end of January.
Nodal also posted a calendar month trading record for January in its environmental markets with 17,225 lots traded, up 36% from 12,620 lots a year earlier. Environmental open interest at the end of January was 230,634 lots, up 31% from 176,559 a year earlier.
Several key environmental markets continued to post solid growth during the month, including PJM-related REC futures, which posted open interest of 118,110 lots, up 15.5% from 102,175 lots a year earlier. Texas CRS wind and solar REC futures, the most successful voluntary REC futures launched, hit record open interest of 45,083 lots (equal to 45 million MWh of wind and solar power), up 58% from 28,559 lots a year earlier. Open interest in California carbon allowance futures ended January at 12,928 lots, up 176% from 4,691 lots a year earlier.
Nodal, which collaborates with IncubEx on environmental markets, also posted another first-ever trade, NEPOOL Quad-qualified REC futures in January. Only listed on Nodal, the NEPOOL Quad-qualified REC futures contract delivers RECs across Massachusetts Class 1, Connecticut Class 1, New Hampshire Class 1 and Rhode Island New energy resources.
“Nodal Exchange is proud to start the new year with record trading in its power and environmental markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We look forward to an exciting 2023 working with our trading and clearing community to continue to offer products and services that best meet the needs of all the markets we serve.”
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. www.nodalexchange.com