Nodal Newsletter | April 2023
NODAL POWER HIGHLIGHTS
- Nodal posted its second highest quarter ever in Q1 2023 with 833 million MWh power futures volume traded
- Nodal continues to hold the majority of open interest in power futures with 1.213 billion MWh, representing over $106.6 billion of notional value (both sides)
NODAL ENVIRONMENTAL HIGHLIGHTS
- Nodal posted a total open interest record during the quarter of 239,303 lots on February 23rd
- Texas CRS wind and solar REC volumes totaled 33,552 lots, up 234% from 10,021 contracts a year earlier
- NEPOOL-related REC contracts hit an open interest record of 40,266 lots, up 37% from 29,392 contracts at the end of Q1 2022
NODAL NATURAL GAS HIGHLIGHTS
- Nodal achieved record calendar month trading in natural gas with 32 million MWh of traded volume in March 2023
Nodal Exchange sets new records and achieves second highest quarterly power trading ever in Q1 2023
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Nodal Exchange achieved strong performance in power, environmental, and natural gas trading in the first quarter of 2023. In power, Nodal posted its second highest quarter ever in Q1 2023 with 833 million MWh power futures volume traded, just shy of Q1 2022’s record 850 million MWh. In the first quarter of 2023, Nodal saw three of its five highest volume months ever in power futures trading, including a record January. Nodal continues to be the market leader in North American power futures having the majority of the open interest with 1.213 billion MWh, representing over $106.6 billion of notional value (both sides), at the end of March. This is roughly equivalent to the electricity usage of 114 million U.S. households for one year.
In the environmental markets, first quarter volume across the product suite was 67,711 lots, up 5% from 64,230 a year earlier. Open interest at the end of Q1 2023 was 226,306 lots, up 19% from 190,548 at the end of Q1 2022. Nodal posted a total open interest record during the quarter of 239,303 lots on February 23rd.
Nodal Exchange celebrates our 14th anniversary!
Thank you to our entire trading and clearing community for your continued trust and support over the last 14 years.
Nodal Exchange participates in Heart Race 2023 to support organ donation
Nodal Exchange, along with the EEX Group team, participated in the Heart Race 2023 which is a 4-day, 4-night race between Paris and Bourg Saint Maurice -Les Arcs that raises awareness and funds for organ donation. The participants weathered storm and snow to complete this race and achieved a sum total of 750 km or 466 miles in distance. To put things into perspective, the distance covered is 2.5 times the height of the Eiffel Tower. We congratulate the participants and are very proud of their strength and commitment to the cause.
April 17-29, 2023
PLATTS GLOBAL POWER MARKETS CONFERENCE: Nodal Exchange will be sponsoring the S&P Global Platts Global Power Markets Conference taking place Monday, April 17 to Wednesday, April 19 in Las Vegas, Nevada. Paul Cusenza, Chairman and CEO of Nodal will be participating in the Industry Leadership Discussion on Day 2 of the conference. For more information visit: Platts Global Power Markets Conference
April 26-28, 2023
FIA LAW & COMPLIANCE CONFERENCE: Nodal Exchange will be attending the FIA Law & Compliance Division Conference taking place Wednesday, April 26 to Friday, April 28 in Washington, D.C. For more information visit: FIA Law & Compliance Division Conference
May 1-3, 2023
PJM ANNUAL MEETING OF MEMBERS: Nodal Exchange will be sponsoring the PJM Annual Meeting of Members taking place Monday, May 1 to Wednesday, May 3 in Cambridge, MD. For more information visit: PJM Annual Meeting of Members
May 9-11, 2023
NAEMA 2023 SPRING CONFERENCE: Nodal Exchange will be sponsoring the NAEMA 2023 Spring Conference taking place Tuesday, May 9 to Thursday, May 11 in Hilton Head Island, SC. For more information visit: NAEMA 2023 Spring Conference
May 23-25, 2023
E-WORLD ENERGY & WATER FAIR: Nodal Exchange, as part of EEX Group
, will be exhibiting at the E-World Energy & Water Fair taking place Tuesday, May 23 to Thursday, May 25 in Essen, Germany. For more information visit: E-World Energy & Water
Nodal in the news
Nodal power futures grow 22% and environmental futures 36% in January
Nodal achieves record traded volume in power & environmentals in 2022
First Washington Carbon Allowance futures trade on Nodal Exchange
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. 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.