Eon creates new energy trading arm
Expansion comes after former energy trading unit was spun-off into separate company, Uniper
Eon has created a new energy trading arm to procure power and gas for its customers and sell generation from its renewable portfolio.
The expansion comes after the group’s former energy trading business was spun-off alongside its convention generation activities into the separate company Uniper.
Newly formed “market operations” teams have already begun trading on the British, German and Swedish markets, staffed by around 20 experts in each country. Their efforts will be primarily focused on hedging against Eon’s price and volume risks rather than proprietary trading.
“Also, we will concentrate more on the marketing and optimisation of flexibilities created by the growing integration of our customers’ decentralised generation and storage capacities,” said Eon senior vice president for energy management Sven Otten.
“In this way, we provide the commercial interface into the commodity and network services markets, while at the same time supporting our growing customer solutions business.”
The Uniper spin-off was completed in September last year when the new entity was floated on the Frankfurt stock exchange. Eon has retained a 46.65 per cent stake in the company.
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