EDF Trading and Chubu to collaborate on coal procurement and trading in Japan
Tuesday, November 13th, 2007
EDF Trading and Chubu Electric Power Company announce they will establish a new coal business, Chubu Energy Trading, based in Nagoya, Japan.
Chubu Energy Trading will procure and deliver coal for Chubu Electric Power Companyâ€™s power station in Hekinan, Japan. It will also establish physical and financial coal trading with wholesale counterparties in the Asia Pacific region.
Chubu Energy Trading will use EDF Tradingâ€™s experience in the coal and freight markets and its successful business model to optimise Chubuâ€™s coal and freight positions, hedge its exposure and secure coal supply. EDF Trading, the wholesale trading subsidiary of the EDF Group, secures and optimises coal and freight supply for the Group in France and the UK as well as for other European utilities.
â€œAs Japanese utilities face increased pressure in the wholesale energy markets, we are pleased to bring EDF Tradingâ€™s commercial and risk management experience to our partnership with Chubuâ€, said Philippe Torrion, CEO of EDF Trading. “We look forward to building a long-term relationship.â€
Chubu Energy Trading will commence business in early 2008.
For further information contact:
Kerry Kennedy, Head of Communications
Tel: +44 (0) 20 7061 4232