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Nodal Exchange and IncubEx today announced the upcoming launch of seven new Renewable Energy Certificate (REC) futures and options on November 17, 2020.
Pending regulatory review, Nodal will list physically-delivered futures contracts on:
- M-RETS® Renewable Energy Certificates from Center for Resource Solutions (CRS) Listed Wind Energy Facilities (front-half and back-half)
- Texas Compliance Solar Renewable Energy Certificates from CRS Listed Facilities (front-half and back-half) and
- New York Renewable Energy Certificates Tier 1
Nodal also will add option contracts on Texas Compliance Renewable Energy Certificates from CRS Listed Facilities (front-half and back-half), complementing the corresponding futures contracts listed in December 2019. Since launch, more than 14,000 Texas CRS Listed Wind futures contracts have traded, representing 14 million MWh of wind energy (enough power to serve about 1.3 million homes for a year).
Each of the new futures and options contracts are the first of their kind on any exchange.
“The new M-RETS® CRS Listed Wind Futures, Texas CRS Listed Solar Futures and Options on the Texas CRS Listed Wind contracts are a reflection of the expansion of public and private sustainability commitments and accompanying demand and convergence in voluntary and compliance environmental commodities,” said Stephen McComb, Senior Vice President of IncubEx.
The M-RETS® wind futures contracts are based on RECs from M-RETS, a registry that tracks in all North American states and provinces and is the system of record for various state/province Renewable Portfolio Standards (RPS) programs. The M-RETS® wind and Texas solar contracts, along with the existing Texas wind REC contract, each deliver RECs from facilities registered with Center for Resource Solutions (CRS) in accordance with its Green-e® renewable energy certification program.
“As M-RETS continues to grow our footprint across North America, we are leading a transformation in the way environmental commodity markets function. We see the benefits of a more liquid, listed marketplace working with companies like Nodal and IncubEx who share our entrepreneurial spirit and drive to innovate. We continue to advance the data available to consumers about the energy they consume and its impact on the grid and environment. Collaborations that drive liquidity, transparency, and market integrity such as this are critical to meeting the future we envision,” said Ben Gerber, President and CEO of M-RETS.
CRS’s Green-e® certification program is the leading independent consumer protection program for the sale of renewable energy and greenhouse gas reductions in the retail market. In 2018, more than 62 million MWh of clean energy was certified by Green-e Energy, the certification program for clean energy and carbon offset programs offered to businesses and consumers in North America.
The new contracts, developed with Nodal’s partner IncubEx, further extends the broadest suite of exchange listed environmental products in the world and builds on the carbon, REC and renewable fuels credit futures and options now offered on Nodal. Including eight previously announced RIN futures and options also due to launch on November 17, 2020 and the new REC contracts, Nodal will feature 82 futures and options contracts on 49 distinct environmental markets.
“In just 24 months, Nodal Exchange has introduced more than 80 environmental market contracts in North America, the largest environmental contract offering in the world,” said Paul Cusenza, Chairman and CEO of Nodal Exchange. “Working with our partners at IncubEx, we are proud to be serving the critical environmental markets in North America with our unmatched offering in environmental futures and options.”
