Washington, DC, April 6, 2022
Nodal Exchange today announced new monthly and quarterly trading records in power and environmental futures. In power, Nodal set a quarter record for Q1 2022 power futures volume with 850 million MWh, up 52% from Q1 2021. Nodal also set a calendar month record for March 2022 with 303 million MWh of traded power futures volume in the month, up 51% from the prior year. Nodal Exchange also achieved record market share in monthly power futures with 48% in Q1 2022. Nodal continues to be the market leader in North American power futures having the majority of the open interest with a record 1.206 billion MWh at the end of March, which is roughly equivalent to the electricity usage of 113 million U.S. households for one year.
Nodal Exchange also posted record volume and open interest in the environmental markets for March. A total of 25,547 lots of environmental contracts were traded in March, up 105% from 12,440 a year earlier. Open interest for environmental products, also hit a new high of 193,183 lots in March and ended Q1 at 190,548 lots, up 55% from 123,200 lots for the same period a year earlier. Nodal, in collaboration with IncubEx, offers the largest suite of environmental contracts in the world, with more than 90 futures and options products listed on the exchange.
The Renewable Energy Certificate (REC) product group posted record March volume with 21,417 lots traded, up 83% from 11,674 lots in March of last year. That equates to 7 million MWh of electricity generated from renewable sources, most often from wind and solar power. REC open interest at the end of March was 39 million MWh which is enough to supply power for 3.7 million U.S. households for a year. Nodal’s market share of REC futures trading was 43% in March. Among REC product highlights, Nodal achieved a new open interest record for Texas Center for Resource Solutions (CRS) wind and solar REC futures, which topped the 30,000 lots mark in March. Open interest for Texas CRS voluntary REC contracts at month end was 29,392 lots, up 121% from 13,303 a year earlier.
“Nodal Exchange is proud to have achieved these new records in power and environmental markets and appreciates the ongoing support of its community,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear.
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 and environmental 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.