Power play in Poland
The Berlin-based subsidiary of the energy group has identified Poland as one of the best prospects in Eastern Europe's energy market.
"In terms of power trading, we will play a pioneering role there when our new team is in place," said the head of Vatenfall Europe AG, Klaus Rauscher. "We have decided over the past few days to install it in either late spring or early summer.
"Poland is one of Eastern Europe's most interesting energy markets," Rauscher added.
The foray into Polish trading would be carried out by the group's trading division in Hamburg, Vattenfall Trading Services (VTS). According to VTS spokeswoman Gabriele Rahn, the company already has a stake in GZE, a Polish distribution firm.
Currently, 46 percent of Polish power generation output remains tied up in long-term power-purchase agreements. "As EU market-opening legislation is put into practice, the Polish market will gradually develop just like that in Germany [which was liberalized in 1998]," she said. VTS envisages a team of 15 staff in Gliwice to focus on over-the-counter power trading, portfolio management, as well as middle- and back-office functions. (Reuters)
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"In terms of power trading, we will play a pioneering role there when our new team is in place," said the head of Vatenfall Europe AG, Klaus Rauscher. "We have decided over the past few days to install it in either late spring or early summer.
"Poland is one of Eastern Europe's most interesting energy markets," Rauscher added.
The foray into Polish trading would be carried out by the group's trading division in Hamburg, Vattenfall Trading Services (VTS). According to VTS spokeswoman Gabriele Rahn, the company already has a stake in GZE, a Polish distribution firm.
Currently, 46 percent of Polish power generation output remains tied up in long-term power-purchase agreements. "As EU market-opening legislation is put into practice, the Polish market will gradually develop just like that in Germany [which was liberalized in 1998]," she said. VTS envisages a team of 15 staff in Gliwice to focus on over-the-counter power trading, portfolio management, as well as middle- and back-office functions. (Reuters)
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