Vattenfall opens trading office in Poland
By entering Vattenfall Trading Services Sp. z o.o. in the Polish trade register, Vattenfall has made a major step in extending its trading activities on the Polish market. The company, located in Gliwice, is a 100 % subsidiary of the Swedish Vattenfall group and belongs to the central trading organisation Vattenfall Trading Services.
"Vattenfall is a first-mover on the Polish energy market when it comes to setting up a dedicated and fully unbundled trading operation ” says Justus Schütze, Managing Director of Vattenfall Trading Services Sp. z o.o. The Polish market is still at an early stage of liberalization. Only small electricity volumes are available for trading in the wholesale market, nearly half of the power production is bound to long-term power purchase agreements. “Transparent and liquid whole sale markets are the heart of liberalized electricity markets and facilitate efficiency in energy supply. On the whole sale markets the price formation follows supply and demand. Pricing mechanism must be made transparent in order to create a credible reference price for all market participants in Poland,” says Schütze. He and his team of 15 want to bring this development forward. “If necessary also as market maker, initially in commodities such as power and CO2,” Schütze adds. In the medium term Vattenfall Trading Services expects increasing volumes and liquidity resembling Western European markets. Vattenfall Trading Services is the central trading platform for the Vattenfall group with offices in Hamburg (headquarter), Stockholm and Gliwice. The unit offers exclusive market access and takes over responsibility for portfolio and risk management for the other Vattenfall units. The focus lies on physical and financial power trading as well as on CO2, financial coal and gas trading. Last year the total energy turnover amounted to over 1.000 TWh. Besides Nordic and Germany, Poland is one of Vattenfall’s core markets. Vattenfall AB has a major stake in the district heating company Elektrocieplownie Warszawskie S.A. (74,75 %) and in the electricity sales and distribution group Gornoslaski Zaklad Elektroenergetyczny S.A. (74,84 %). The aim of VTS in Poland is to offer first class market access and trading services for these companies. For more information, please contact: Gabriele Rahn, Press Officer, Vattenfall Trading Services, phone: +49 40 244 30 328 Piotr Kedzierski, Communication Director Vattenfall Poland, phone: + 48 22 820 92 00 From Vattenfall's Press Office, telephone: +46 8 739 50 10.