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Getting a head-start

North American Energy Credit and Clearing may have gained an advantage by being the first to clear over-the-counter physical electricity contracts. But it still has to prove that it is reliable and efficient. Joe Marsh reports

Chicago-based North American Energy Credit and Clearing (NECC) has succeeded where the New York Mercantile Exchange (Nymex) has so far failed: in June, it cleared the first over-the-counter (OTC) physical power trade in the US. What’s more, the trade – in the Electric Reliability Council of Texas (Ercot) – was submitted from Nymex’s arch rival trading platform, the Intercontinental Exchange (Ice)

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