The Automated Power Exchange (APX) fired up its new Ohio trading hub in July. Based on delivery within FirstEnergy`s transmission system, which covers a wide path along Lake Erie, the new hub represents yet another move outside its California base for the electronic exchange.
Earlier this year, APX teamed up with the New York ISO to develop trading products and help with market trials.
In Ohio, APX handles short-term forward energy deals up to seven days in advance of delivery for daily and hourly energy products.
FirstEnergy, which doesn`t hold an interest in the exchange, delivers electricity bought on the exchange over its transmission grid and gets a fee for that service.