in News Departments > New & Noteworthy
print the content item

Chicago-based U.S. Futures Exchange (USFE) will begin listing futures contracts on NORDIX Financial Wind Indexes that measure deviations from average wind speeds used in wind power generation. The contracts provide a financial hedging vehicle for wind resource owners, developers, financiers and consumers of wind energy and will begin trading this summer, according to USFE.

The NORDIX Financial Wind Indexes consist of deviations from 20-year historical wind speed averages compared with present daily figures. USFE explains that initially, it will list seven index futures contracts based on two wind regions in New York and five wind regions in Texas as defined by the National Oceanic and Atmospheric Administration's (NOAA) National Center for Environmental Prediction.

These contracts are the first listed exchange products designed to reflect the needs of the greater renewable energy community, USFE adds. Contracts for other forms of renewable energy are planned for later development.

"USFE's futures contracts exemplify the kind of financial vehicles that further validate the financial merit of wind power as an option for many, if not most, utility companies' power generation portfolios," says Michael Eckhart, president of the American Council on Renewable Energy (ACORE). "We believe the ability to hedge against future profit variability will encourage businesses to take steps toward adopting renewable energy."


Trachte Inc._id1770
Latest Top Stories

Alberta Breaks Wind Power Record, Then Does It Again

Last week, the Alberta Electric System Operator recorded new wind production peaks in the Canadian province - highlighting how well the grid integrated the renewable energy.


Federal Appeals Court Finds Obama's Wind Farm Decision Unconstitutional

A federal appeals court ruled that the U.S. government violated the constitutional rights of Chinese-owned Ralls Corp. when ordering the divestment of four Oregon wind farms.


Renewables Make Up Over 50% Of New U.S. Power In First Half Of 2014

According to a recent government report, renewable energy sources, such as wind and solar, continue to dominate new electric generating capacity.


Suzlon Facility Lends Key Assist In Developing 'The Wind Technicians Of Tomorrow'

The turbine manufacturer’s Elgin, Ill.-based training facility is the culmination of a program that puts a new twist on a proven method of instruction.


Having Their Say: CanWEA Clarifies True Source Of Canadian Wind Success

The Canadian Wind Energy Association (CanWEA) takes issue with a recent report summary regarding various renewable energy policies in North America.

Canwea_id1984
Navigant_id1983
Renewable NRG_id1934