Nodal Exchange announced year-to-date record volume in power futures with 2,862 billion MWh traded from January to November 2025, up 2% from the same period in 2024. In November, Nodal Exchange traded volume was 210 million MWh, up 7% from November 2024. Nodal continues to be the market leader in North American power futures having the majority share of the open interest with 1.530 billion MWh at the end of November, up 9% from a year earlier. The open interest represents over $175 billion of notional value (both sides).
Nodal Exchange saw a 7% increase in natural gas futures traded volume from January to November 2025 compared to the same period in 2024, reaching a record high of 918 million MMBtu traded.
Environmental futures and options on Nodal Exchange posted volume in November of 45,893 lots and open interest ended the month at 448,726 lots. Renewable energy certificates (RECs) ended November with open interest of 312,012 lots, up 8% from a year earlier.
“Nodal Exchange is proud to be ending 2025 with strong trading volumes across its markets,” said Paul Cusenza, Chairman and CEO of Nodal Exchange and Nodal Clear. “We look forward to an exciting 2026 working with our trading and clearing community to offer products and services that best suit the needs of these evolving markets.”
