Nodal Exchange Achieves Records in Power and Environmental Futures in May

June 07, 2023 at 09:00 AM EDT

Nodal Exchange today announced new records in power and environmental futures. In power, Nodal set a calendar month record for May with traded power futures volume of 234 million MWh, up from 220 million MWh in May 2022. Nodal continues to be the market leader in North American power futures with 52.6% share of open interest at the end of May with 1.286 billion MWh open interest representing $111 Billion of notional value based on both sides.

For the month, environmental markets on Nodal posted record open interest of 274,666 lots and closed the month at 263,917 lots, up 33% from 199,059 lots a year earlier. Broken down further, the renewable energy certificate group posted record open interest of 241,451 lots, and closed the month at 230,667 contracts, up 37% from 168,975 lots a year earlier. Among the REC contracts, several hit monthly volume and/or open interest records:

New Jersey Class II RECs open interest climbed to 30,820 lots
Massachusetts CES-E open interest reached 22,823 lots
Pennsylvania Solar AECs open interest hit 23,658 lots
Pennsylvania AEC Tier 2 posted record volume of 6,350 lots and open interest of 22,690 lots
NAR (North American Registry) wind and solar CRS RECs posted record volume of 1,910 lots, and record open interest of 3,110 lots
Texas CRS Solar (front half and back half) RECs hit a record 2,674 lots and open interest of 6,058 lots

Nodal, in collaboration with IncubEx, offers the largest suite of environmental contracts in the world and listed three new first-of-their-kind contracts on May 26^th:

Virginia Compliance Renewable Energy Certificate (REC) Futures;
PJM Quad-Qualified Renewable Energy Certificate (REC) Futures; and
California Carbon Offset Zero (CCO-0) with Direct Environmental Benefits (DEBS) Futures, which traded on day one.

“I am extremely pleased to see continued strong growth performance in our power and environmental markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We are proud to serve these markets and appreciate the ongoing support of this community."

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 and the world’s largest set of environmental 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. 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. www.nodalexchange.com