Clearing service launches for physical power in US

North American Energy Credit and Clearing (NECC), the Clearing Corporation (CCorp) and Atlanta-based commodity-trading platform IntercontinentalExchange (Ice) have launched a physical clearing service for the US energy markets.

Yesterday (June 7) the first cleared electricity contract – which traded on Friday, June 3 – was delivered into Ercot, the power transmission hub in Texas. This was the first physical power contract to be cleared in the US, says Chicago-based NECC, which has spent the past year or so developing this solution for the physical energy markets.

The trade was executed on Ice and transmitted to NECC to be cleared, using a solution combining Delaware-based CCorp’s clearing technology and processing

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