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Nodal Newsletter | February 2024

Nodal Highlights

NODAL POWER HIGHLIGHTS

  • Nodal Exchange achieved a record day of power trading on Tuesday, February 6th with 76.7 million MWh traded in one day.
  • Nodal Exchange now offers 23 new solar peak futures contracts.

NODAL NATURAL GAS HIGHLIGHTS

  • In Nodal’s natural gas markets, futures trading set a calendar month record in January with 98.5 million MMBtu up from 18 million MMBtu in January 2023, which is up 4.5x year-over-year.

NODAL ENVIRONMENTAL HIGHLIGHTS

  • Nodal set a calendar month record in environmental futures and options trading with volume of 45,837 lots, up 166% from January 2023.
  • Open Interest in environmental markets reached a record high of 298,055 lots in January, up 29% from January 2023.

Nodal Exchange achieves daily record in power and January records in natural gas and environmental markets

Nodal Exchange announced new trading records in power, natural gas, and environmental markets. Nodal Exchange achieved a record day of power trading on Tuesday, February 6th with 76.7 million MWh traded in one day which is equivalent to the electricity that over 7.3 million homes would consume in a year in the USA. This surpasses the previous record trading day of 56.2 million MWh on February 9th, 2021. Nodal also almost surpassed last January’s record calendar month traded volume of 270.8 million MWh with 268.2 million MWh. Nodal continues to be the North American power market leader ending January at 1,286 million MWh of futures open interest, a 55% market share.

In Nodal’s natural gas markets, futures trading set a calendar month record in January with 98.5 million MMBtu up from 18 million MMBtu in January 2023, which is up 4.5x year-over-year.

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Nodal Exchange offers solar peak power futures contracts

Nodal Exchange now offers 23 new solar peak futures contracts. The new products, created in response to customer feedback, enable more precise risk management as solar generation plays an increasingly significant role in the evolving energy landscape.

The full list of contracts, where HE stands for Hour Ending, rtp stands for real time power and dap stands for day ahead power, includes:

PJM

  • PJM.WESTERN HUB_month_7x HE 10-17_rtp
  • PJM.WESTERN HUB_month_7x HE 10-17_dap
  • PJM.WESTERN HUB_month_7x16_rtp
  • PJM.WESTERN HUB_month_7x16_dap

ERCOT

  • ERCOT.HB_NORTH_month_7x HE 10-17_rtp
  • ERCOT.HB_HOUSTON_month_7x HE 10-17_rtp
  • ERCOT.HB_WEST_month_7x HE 10-17_rtp
  • ERCOT.HB_SOUTH_month_7x HE 10-17_rtp
  • ERCOT.HB_NORTH_month_5x HE 18-22_rtp
  • ERCOT.HB_HOUSTON_month_5x HE 18-22_rtp
  • ERCOT.HB_WEST_month_5x HE 18-22_rtp
  • ERCOT.HB_SOUTH_month_5x HE 18-22_rtp
  • ERCOT.HB_NORTH_month_5x HE 07-11_rtp
  • ERCOT.HB_NORTH_month_7x16_rtp
  • ERCOT.HB_HOUSTON_month_7x16_rtp
  • ERCOT.HB_WEST_month_7x16_rtp
  • ERCOT.HB_SOUTH_month_7x16_rtp

CAISO

  • CAISO.TH_NP15_GEN-APND_month_6x HE 07-08 & 17-22_dap
  • CAISO.TH_SP15_GEN-APND_month_6x HE 07-08 & 17 22_dap
  • CAISO.TH_NP15_GEN-APND_month_7x HE 09-16_dap
  • CAISO.TH_SP15_GEN-APND_month_7x HE 09-16_dap
  • CAISO.TH_NP15_GEN-APND_month_6x HE 09-16_dap
  • CAISO.TH_SP15_GEN-APND_month_6x HE 09-16_dap

“Nodal Exchange is pleased to be able to respond to our participants’ needs by adding these new solar peak contracts aiding in the energy transition to more renewable energy”, said Paul Cusenza, Chairman and Chief Executive Officer of Nodal Exchange. “We look forward to continuing to expand our product offerings to best meet the hedging needs of the U.S. energy markets.”

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Upcoming Events

February 20-22, 2024
E-WORLD ENERGY AND WATER 2024: Nodal Exchange, as part of EEX Group, will be sponsoring E-World Energy and Water 2024 taking place Tuesday, February 20th to Thursday, February 22nd, 2024 in Essen, Germany. For more information visit: E-World Energy and Water 2024
March 6-8, 2024
WSPP SPRING 2024 OPERATING COMMITTEE MEETING: Nodal Exchange will be sponsoring the WSPP Spring 2024 Operating Committee Meeting taking place Wednesday, March 6th to Friday, March 8th, 2024 in Banff, Alberta, Canada. For more information visit: WSPP Spring 2024 Operating Committee Meeting
March 19-21, 2024
NORTH AMERICAN CARBON WORLD (NACW) 2024: Nodal Exchange will be sponsoring the North American Carbon World (NACW) 2024 conference taking place Tuesday, March 19th to Thursday, March 21st, 2024 in San Francisco, California. For more information visit: North American Carbon World
April 15-17, 2024
S&P GLOBAL COMMODITY INSIGHTS GLOBAL POWER MARKETS CONFERENCE: Nodal Exchange will be sponsoring S&P Global Commodity Insights’ Global Power Markets conference taking place Monday, April 15 to Wednesday, April 17 in Las Vegas, Nevada. Paul Cusenza, Chairman and CEO of Nodal will be participating as a speaker at the CEO Roundtable: Powering a Sustainable Future on Day 2 of the conference. For more information visit: Global Power Markets Conference
April 22-25, 2024
NAEMA 2024 SPRING CONFERENCE: Nodal Exchange will be sponsoring NAEMA 2024 Spring conference taking place Monday, April 22 to Thursday, April 25 in Rancho Mirage, California. For more information visit: NAEMA 2024 Spring Conference

Nodal in the news

January 2024

Nodal achieves record trading volumes in 2023

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January 2024

Nodal Exchange 2023 highlights video

Watch video
December 2023

Nodal Clear wins Clearing House of the Year

Learn more

About Nodal

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.