WASHINGTON, March 19, 2009
Nodal Exchange, the first independent electronic commodities exchange for forward locational electric power trading, announced today that it has expanded its Board of Directors. The following individuals serve on Nodal Exchange’s Board of Directors:
- Paul Cusenza, Chief Executive Officer, Nodal Exchange, LLC
- Mark Maisto, President Commodities and Retail Markets, NextEra Energy Resources, LLC, an FPL Group company
- Benjamin Preston, Senior Managing Director, Macquarie Cook Power, Inc.
- Lawrence Silverstein, Senior Vice President & Managing Director, NextEra Energy Resources, LLC, an FPL Group company
- James P. Smist, President, Dean & Company Strategy Consultants
- Andrew J. Stevens, Managing Director, DC Energy
- Dean L. Wilde II, Managing Director and CEO, DC Energy
Information about each of the members of the Board of Directors is available on the Nodal Exchange website.
“We are excited about having such a distinguished Board of Directors to oversee our company and provide strong governance, and we are very much looking forward to commencing trading in April,” said Paul Cusenza, Chief Executive Officer of Nodal Exchange.
“Nodal Exchange is an exciting step forward in the development of liquid, nodal markets for electricity,” said Mark Maisto, President Commodities and Retail Markets, NextEra Energy Resources, LLC.
“Macquarie is delighted to be a part of the Nodal Exchange initiative. As relatively new entrants to the US electricity trading market we are continually seeking better ways to engage with the markets that we cover. From the outset, we have been impressed by Nodal Exchange’s market design, price discovery and appeal to all participants in US electricity trading markets,” stated Benjamin Preston, Senior Managing Director, Macquarie Cook Power, Inc.
Nodal Exchange is currently conducting its integrated market test in preparation for the upcoming launch of the exchange. This market test involves Nodal Exchange participants, brokers, LCH.Clearnet (the clearinghouse and central counterparty for all Nodal Exchange transactions), and LCH.Clearnet clearing members and their back-office software providers in a comprehensive, end-to-end test of the system.
Nodal Exchange and LCH.Clearnet will also be co-sponsoring the Platts Global Power Markets Conference in Las Vegas, Nevada on April 5-7, the EUCI Unsecured Credit Conference in Washington, DC on April 29-30, and the 2009 PJM Annual Meeting of Members in Cambridge, Maryland on May 5-7, 2009.
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.