Washington, DC, May 4, 2022
Nodal Exchange today announced new records in power and environmental futures. In power, Nodal set a calendar month record for April with traded power futures volume of 244 million MWh, up 13.5% from 215 million MWh in April 2021. Nodal continues to be the market leader in North American power futures having the majority of the open interest at the end of April with a record 1.213 billion MWh representing $174 Billion of notional value based on both sides.
Open interest in environmental products on Nodal Exchange continued its steady growth, reaching a record high of 194,056 lots in April. At month-end, open interest across the product suite totaled 192,707 contracts, up 42% from 136,046 at the end of April 2021.
Two renewable energy certificate product groups represented much of the growth, with open interest in PJM-based REC contracts totaling 109,709, up 24% from 88,797 a year earlier. The product group hit a new open interest high of 110,760 contracts during the month. Texas CRS wind and solar open interest ended April at 31,705 contracts, up 88% from 16,837 a year earlier. The Texas CRS contracts also reached a new record of 31,812 in April.
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.
“These are extraordinary times, and we are seeing increased price volatility in energy markets which makes price risk hedging even more important. Nodal Exchange is proud to serve the power, natural gas and environmental markets in managing risk 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.