WASHINGTON, April 3, 2009
Nodal Exchange, the first independent electronic commodities exchange for forward locational electric power trading, today announced that it has admitted a private institutional investor to complete its ownership structure in advance of Nodal Exchange’s April 8, 2009 launch. Nodal Exchange’s other shareholders include the following companies or their affiliates: DC Energy, LLC, Macquarie Cook Power, Inc., and NextEra Energy Resources, LLC, an FPL Group company.
Robert J.S. Roriston, Partner, Lindsay Goldberg will be joining Paul Cusenza, Nodal
Exchange, LLC; Mark Maisto, NextEra Energy Resources, LLC, an FPL Group company; Benjamin Preston, Macquarie Cook Power; James P. Smist, Dean & Company; Andrew J. Stevens, DC Energy; and Dean L. Wilde II, DC Energy on the Board of Directors of Nodal Exchange. Information about each of the members of the Board of Directors can be found at the Nodal Exchange website: nodalexchange.com
“With a strong institutional ownership and governance structure, Nodal Exchange is well positioned to begin operations,” said Paul Cusenza, CEO of Nodal Exchange. “We are very much looking forward to commencing trading next week.”
About Nodal Exchange, LLC
Nodal Exchange, launching in early 2009, will be the first independent electronic commodities exchange dedicated to offering locational (nodal) forward trading products and services to participants in the organized North American electric power markets. Nodal Exchange will build on the success of the existing Regional Transmission Organization (RTO/ISO) day-ahead markets through the development of cash-settled forward nodal/zonal auctions that will enable participants to effectively manage basis and credit risk. The Nodal Exchange platform will also accept for clearing bilateral OTC transactions submitted by participants and brokers. Nodal Exchange is an independent, privately held company. For more information, visit nodalexchange.com.