Nodal Exchange announced record-breaking trading volumes in both power and environmental markets for August 2024. In the power sector, Nodal set a new monthly record with 266 million MWh of power futures traded, marking a 58% increase compared to the previous year. Nodal remains the leading marketplace for North American power futures, holding the majority of open interest at 1.4 billion MWh.
In environmental markets, Nodal Exchange achieved an all-time record with 105,571 futures and options contracts traded, a 189% surge from 36,495 contracts in August 2023. This figure surpassed the previous record of 64,562 contracts set in July 2024.
Open interest in Nodal’s environmental product suite also reached a record high of 380,647 contracts, reflecting a 45% increase from 262,680 contracts the previous year. The growth was driven by heightened activity in North American carbon markets, including California Carbon Allowances (CCAs) and Regional Greenhouse Gas Initiative (RGGI) Allowances, as well as renewable energy certificate (REC) contracts.
In August, carbon futures and options reached a volume of 63,283 contracts, while open interest nearly doubled, rising 98% to 65,925 lots compared to 33,228 lots the year before. REC trading volume also saw significant growth, with 39,529 contracts traded, an 87% increase from 21,142 lots a year earlier. REC open interest grew 17% to 252,608 contracts from 215,552 the previous year.
Nodal, in partnership with IncubEx, offers the world’s most extensive range of environmental products.
“Nodal Exchange is proud to have reached these new milestones in both power and environmental markets, and we are grateful for the continued support of our community,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear.
