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BNP Paribas announces power trading plans

BNP Paribas is pleased to announce that it is starting a European power trading and risk management initiative as a logical development in its broad involvement in the energy and commodity business.

The team of three, based in London, will initially focus on establishing the relevant systems and admissions required for trading in European power. The bank aims to begin actual trading later this year and will at first concentrate on the French, German and UK power markets. This new initiative will complement the existing range of commodity risk management products for the bank's clients. The team is part of the Energy, Commodities, Export and Project division of BNP Paribas, which employs around 750 people globally of which 100 people are dedicated to commodity price risk management in London and New York.

BNP Paribas is a shareholder of the French electricity exchange Powernext and a founding member of the Spanish electricity exchange OMEL.