ERCOT North: A New Year in Net Long
January 11, 2021
Traders in ERCOT North Real Time Peak daily fixed price futures and options have started the new year with an old trend. In sum, non-commercial traders are net long 11,564,000 MWh versus 16,072,00 MWh when 2020 began, continuing a trend that started in February.
Futures prices tend to positively correlate with the positions of non-commercial traders, which can be seen in the CFTC Commitments of Traders report, which shows the open interest and positions of traders.