Nodal Exchange announced it achieved a calendar month trading record for January 2023 with 270.8 million MWh of traded power futures volume in the month, up 22% from the prior year. Nodal continues to be the market leader in North American power futures having the majority of the open interest with 1.13 billion MWh at the end of January.

Nodal also posted a calendar month trading record for January in its environmental markets with 17,225 lots traded, up 36% from 12,620 lots a year earlier. Environmental open interest at the end of January was 230,634 lots, up 31% from 176,559 a year earlier.

Several key environmental markets continued to post solid growth during the month, including PJM-related REC futures, which posted open interest of 118,110 lots, up 15.5% from 102,175 lots a year earlier. Texas CRS wind and solar REC futures, the most successful voluntary REC futures launched, hit record open interest of 45,083 lots (equal to 45 million MWh of wind and solar power), up 58% from 28,559 lots a year earlier. Open interest in California carbon allowance futures ended January at 12,928 lots, up 176% from 4,691 lots a year earlier.

Nodal, which collaborates with IncubEx on environmental markets, posted another first-ever trade, NEPOOL Quad-qualified REC futures in January. Only listed on Nodal, the NEPOOL Quad-qualified REC futures contract delivers RECs across Massachusetts Class 1, Connecticut Class 1, New Hampshire Class 1, and Rhode Island New energy resources.