Nodal Exchange achieves record growth in power, environmental and natural gas markets in the first half of 2024

WASHINGTON–(BUSINESS WIRE)–Nodal Exchange today announced strong performance in power, environmental, and natural gas futures as of the end of June 2024. Nodal achieved record half year power volume for the first half of 2024 with 1.64 billion MWh traded, up 6% from 1.54 billion MWh traded in the first half of 2023. Nodal Exchange is the leading power futures exchange in North America with the majority of U.S. power futures open interest. Nodal’s 1.377 billion MWh of open interest as of end of June 2024 represents $128 billion of notional value based on both sides. U.S. power futures open interest on Nodal Exchange grew 8% year over year as of the end of June.

Nodal also posted strong growth in volumes and open interest in the environmental market suite in the first half of 2024. Total volume for Nodal environmental products in the first half of 2024 was 271,884 lots, up 65% from 164,638 lots a year earlier. Total open interest in Nodal environmental products ended June 2024 with 351,659 lots, up 30% from a year earlier.

Nodal posted environmental market records each calendar month this year, including an all-time monthly volume record in May of 51,747 lots. June had a calendar month record 39,039 lots traded, up 85% from June 2023. Q2 volume rose 44%, with 139,651 lots traded on Nodal.

Nodal posted open interest growth across the Renewable Energy Certificates (REC) product group, with 270,664 lots at the end of June, up 16%. The REC group also reached a new open interest record of 284,683 lots on May 24th. The increase was supported by strong volumes in NEPOOL, PJM and CRS-related REC contracts. Texas CRS wind and solar RECs, the first successful voluntary REC products listed, posted volume of 78,770 lots in the first half of 2024, up 30% from a year earlier. Open interest in Texas contracts hit a new record of 71,651 lots at the end of June, up 44%. Renewable fuel credit futures continued to show massive growth over the first half of 2024 with 66,124 lots in renewable fuel credit contracts traded, up more than 950% from a year earlier.

Nodal also achieved a half-year record in natural gas trading with a 98% increase from a year earlier.

“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,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “As the year progresses, we look forward to continuing to develop and offer innovative products that meet the evolving needs of 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

© EEX AG, Nodal – part of eex group

Contacts

Nodal
Nicole Ricard

Nodal Exchange Public Relations

P: 703-962-9816

ricard@nodalexchange.com