Nodal Exchange announced new trading records in power and environmental markets. Nodal surpassed last January’s volume and achieved a calendar month record with traded volume of 282.6 million MWh, up 5% from January 2024. Nodal continues to be the North American power market leader ending January at 1.43 billion MWh of futures open interest, a 57% market share.

Nodal posted a calendar month trading record for January in its environmental markets with 48,460 lots traded, up 6% from 45,837 lots a year earlier. Environmental open interest at the end of January was 392,258 lots, up 32% from 298,055 a year earlier.

Carbon futures and options across CCAs, RGGI and WCA products posted open interest of 48,029 lots at the end of January, up 159% from the prior year. Renewable energy certificate (REC) open interest was 300,109 lots, up 20% from end of January 2024. Renewable fuels open interest at month-end was 44,120 lots, up 47% from end of January 2024.

Nodal Exchange launched Auction Clearing Price (ACP) futures for the California, Washington and Northeastern states carbon programs in January.

These contracts will enable participants to hedge the outcome of the quarterly auctions in California (both current and advanced), Washington and the Regional Greenhouse Gas Initiative (RGGI) by trading at a differential to the auction result and taking a position in the corresponding futures contract at the auction clearing price on expiry. It is not necessary to be a participant in the auctions to trade the ACP contracts.

Auctions are held in February, May, August and November for California and in March, June, September and December for Washington and RGGI. Futures contracts delivered for California and Washington ACP contracts have an expiry the month immediately following settlement, and futures contracts for RGGI have an expiry the same month as the auction.

For more information about Nodal Exchange ACP contracts, visit the link below.