“Nodal Exchange Reports Strong Growth Across Power, Environmental, and Natural Gas Markets in First Half of 2024”
Nodal Exchange announced today robust performance across its power, environmental, and natural gas futures by the end of June 2024. The exchange achieved a record half-year power volume of 1.64 billion MWh, marking a 6% increase from the previous year’s 1.54 billion MWh. As the leading power futures exchange in North America, Nodal Exchange boasts the majority of U.S. power futures open interest, which totaled 1.377 billion MWh, equivalent to $128 billion in notional value as of June 2024—an 8% year-over-year growth.
In the environmental markets, Nodal saw substantial growth with total volumes reaching 271,884 lots, a significant 65% increase from the previous year’s 164,638 lots. Open interest in environmental products grew to 351,659 lots by June 2024, up 30% from the previous year. Monthly records were set throughout the year, including a peak monthly volume of 51,747 lots in May and 39,039 lots in June, representing an 85% increase from June 2023. Overall, second quarter volumes rose by 44%, totaling 139,651 lots.
Renewable Energy Certificates (REC) also experienced open interest growth, reaching 270,664 lots by June, up 16% from the previous year, with a peak of 284,683 lots in May. Notably, Texas CRS wind and solar REC contracts posted a volume of 78,770 lots, up 30% year-over-year, with open interest hitting a record 71,651 lots by June, up 44%. Renewable fuel credit futures surged impressively with 66,124 lots traded, marking an astonishing increase of over 950% from the previous year.
In natural gas trading, Nodal Exchange achieved a record increase of 98% compared to the previous year.
Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear, expressed satisfaction with the results, stating, “Nodal Exchange is proud to serve these markets, and we are very pleased to see record growth across each of our markets in the first half of 2024.” He emphasized Nodal Exchange’s commitment to innovation and its role in offering effective risk management solutions to market participants.
About Nodal Exchange:
Nodal Exchange, a derivatives exchange under EEX Group, specializes in providing price, credit, and liquidity risk management solutions in the North American commodities markets. It introduced the world’s largest set of electric power locational (nodal) futures contracts and environmental contracts. Nodal Exchange offers over 1,000 contracts on numerous unique locations and clears all contracts through Nodal Clear, a CFTC registered derivatives clearing organization. Regulated by the CFTC, Nodal Exchange remains dedicated to serving international commodity markets.
