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.
Nodal posted a calendar month trading record for January in its environmental markets with 45,837 lots traded, up 166% from 17,225 lots a year earlier. This marks the second highest volume month for environmental contracts on Nodal. Environmental open interest at the end of January was 298,055 lots, up 29% from 230,634 a year earlier.
Several key environmental markets continued to post solid growth during the month. Open interest across all Renewable Energy Credit (“REC”) contracts ended the month at 249,586 contracts, up 22% from 204,871 lots a year earlier. The traded volume of PJM-related products hit 17,559 lots, up 160% from a year earlier. NAR CRS wind RECs on Nodal posted an uptick in volume with 1,110 contracts traded. Month-end open interest was 4,684 lots, up 211% from 1,507 lots year over year. Texas CRS wind and solar RECs posted traded volume of 11,267 lots in January. Open interest in the contract rose to 55,980 lots, up 24% from 45,083 lots a year earlier. California Low Carbon Fuel Standard futures and options continued its growth trend, with January volume of 9,920 contracts and open interest of 29,675 contracts at month-end. A year earlier, the total California Low Carbon Fuel Standard open interest was 1,050 lots.
“Nodal Exchange is proud to start the new year with record trading volumes in its power, natural gas and environmental markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We look forward to an exciting 2024 working with our trading and clearing community in continuing to grow our markets.”
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 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. www.nodalexchange.com
