ERCOT North Traders Sing Different Tune
December 01, 2020
One year ago in mid-November, traders in ERCOT North Real Time Peak Daily Fixed Price futures and options were 97% long in their overall positions held. This class of trader was 18,492,800 MWh long according to the CFTC. This year, they are 67% net long (12,155,200 MWh). Futures prices tend to positively correlate with the position of non-commercial traders such as individual investors, hedge funds, and large financial institutions.
