These include a select group of hubs, zones, scheduling points, pricing points, and generators in the California ISO. Sixteen locations are offered four years (49 months) forward in the Nodal Exchange daily auctions and an additional 19 are offered one year (13 months) forward in the Nodal Exchange weekly auctions. Contracts for both peak and off-peak time periods are available at each location.
In addition, these new contracts are also available over-the-counter for submission to Nodal Exchange for clearing by LCH.Clearnet.
Paul Cusenza, CEO of Nodal Exchange, said: “It has been just over a year since the California ISO became a nodal market. With over one year of historical locational marginal prices, we are now able to offer exchange trading and central counterparty clearing on the key locations in California, most for the first time ever. We are very happy to be able to meet the needs of our existing participants and welcome new participants focused on the California market.”
Roger Liddell, CEO of LCH.Clearnet, said: “The service continues to go from strength to strength, supporting the growth of new markets by delivering innovative clearing solutions and highly developed risk management standards. We are pleased with the excellent progress made one year since launch and look forward to continuing to work with the Nodal Exchange to develop the service.”
