G4E
Source: E.ON SE

E.ON launched new procurement and marketing unit for power and gas

E.ON has established its own procurement and marketing function for the German, British and Swedish markets as of July 1, 2017.

The so-called Market Operations teams in these countries will focus on transactions on wholesale energy markets and the grid operators’ balancing markets. They will be primarily tasked with purchasing power and gas for customers and marketing the production from renewable sources for the E.ON companies. E.ON’s former energy trading business and related market access was transferred to the now independent affiliate Uniper, which had been spun off in September 2016.

In each country, E.ON has set up a team of about 20 experts, which will conclude deals for power, natural gas as well as green certificates directly on the markets. This is mainly done for durations of three years in advance up to individual hours for intraday purchases/sales. All activities are clearly focused on hedging E.ON´s price and volume risks instead of proprietary trading.

As of now, E.ON is doing business again on the key energy wholesale markets in Germany, the UK and Sweden. This includes bilateral deals with other energy companies as well as transactions on energy exchanges such as EPEX Spot, PEGAS, ICE, Nord Pool and Nasdaq Nordic.

E.ON already entered the Hungarian and Czech markets on October 1, 2016 and January 1, 2017, respectively. In Italy, the market entry is planned for January 1, 2018. The company did not disclose any information on power and gas volumes.

(Source: E.ON)

Related Topics
STEP Oil & Gas establishes partnership with Petrohab™ more
Market for digitalization in energy sector to grow to $ 64 bn by 2025 more
Increased production from the Fram field more
Biogaz Europe 2018 more
Eldar Sætre continues as Statoil’s chief executive officer more
SICK celebrates ten years of operations in the Middle East more