Texas wind and solar futures on Nodal exchange

Learn more about trading Renewable Energy Certificate futures and options for voluntary Texas wind and solar RECs.

Nodal Exchange offers two unique contracts for Texas compliance renewable energy certificates (RECs) which originate from wind or solar generation. The contracts deliver RECs from facilities listed with the Center for Resource Solutions (CRS) in connection with its Green-e® Energy program.

The contracts carry a “Front Half” and “Back Half” designation consistent with the convention for trading supply from specific generation periods and delivers RECs from either wind or solar generation in the ERCOT Renewables Registry. Consistent with the Green-e® Energy program, an equal number of Compliance Premiums must also be delivered with the Solar RECs.

These contracts are only available on Nodal Exchange and provide an effective way to mitigate risk in the market for Texas compliance and voluntary renewable energy.

Contract Overviews

  • Physically delivered RECs

  • Wind REC Contract Size: 1,000 MWh representing 1,000 Texas RECs

  • Solar REC Contract Size: 1,000 MWh representing 1,000 Texas RECs and 1,000 Compliance Premiums

  • Priced in US dollars per MWh

  • Minimum Tick Size: $0.001 per MWh

  • Last Trading Day: Three business Days prior to the last business day of the delivery month

  • Registry: ERCOT Renewables Registry

  • Front Half Contract Series: 19 consecutive monthly contracts beginning in June of the vintage year

  • Back Half Contract Series: 13 consecutive monthly contracts beginning in December of the vintage year

Delivery Details

Wind Futures

  • Compliance eligible Wind RECs pursuant to the Texas renewable energy trading program
  • RECs from wind facilities

Solar Futures

  • Compliance eligible Solar RECs pursuant to the Texas renewable energy trading program
  • RECs from solar facilities
  • Pursuant to the Green-e® Energy program, an equal number of Compliance Premiums must also be delivered. These Compliance Premiums must be from the same facility and generation period as the RECs

Wind and Solar Futures

  • RECs eligible for delivery must be generated from facilities which have a tracking attestation on file with CRS pursuant to its administration of the Green-e® Energy program
  • REC Offsets are not deliverable
  • For the “Front Half” contracts, RECs must have been generated in the first six month of the specified vintage year. For the “Back Half” contracts, RECs must have been generated in the last six month of the specified vintage year
  • For more information about Tracking Attestation forms and the Green-e® Energy program, please visit the Green-e® website.

Key benefits of trading on Nodal Exchange

  • Effective hedging for North American carbon markets
  • Efficient delivery process
  • Letters of credit available as collateral
  • Capital efficiencies through portfolio margining
  • Products are listed, traded and cleared along side RECs, Renewable Fuels, Power and Natural Gas futures
  • All Cleared by Nodal Clear
  • Competitive transaction costs
  • No membership or data fees
  • Experienced team dedicated to product development and customer support
  • Effective hedging for North American carbon markets
  • Efficient delivery process
  • Letters of credit available as collateral
  • Capital efficiencies through portfolio margining
  • Products are listed, traded and cleared along side RECs, Renewable Fuels, Power and Natural Gas futures
  • All Cleared by Nodal Clear
  • Competitive transaction costs
  • No membership or data fees
  • Experienced team dedicated to product development and customer support
The CRS logo, the Green-e® name and logos, and the Renewable Energy Markets™ conference name and logos, among others (collectively, the “CRS Marks”) are marks owned and administered by the Center for Resource Solutions (“CRS”)

ADDITIONAL RESOURCES

PDF

Texas CRS Wind and Solar REC Products Info

Webpage

REC Contracts and
Exchange Info

Webpage

REC Markets
Background

This page is for illustrative purposes only. For official contract and trading information, please visit Nodal Exchange