Vattenfall trading under new name

Vattenfall’s energy trading unit is now acting under the name Vattenfall Trading Services. The renaming results from the re-organisation of Vattenfall’s trading units in Hamburg (former Vattenfall Europe Trading) and Stockholm (former Supply & Trading).

The unit is headquartered in Hamburg. The activities on the Scandinavian market are carried out from the regional office in Stockholm. Vattenfall Trading Services has more than 150 employees of which two thirds work in Hamburg. Being the central trading platform, Vattenfall Trading Services is responsible for the single access to wholesale markets. "Our company manages all energy-related risks of the Vattenfall group,“ says Erik Saether, Head of Vattenfall Trading Services. "The focus lies on hedging price risks on electricity, coal and CO2 markets. In view of the volatile energy prices, professional risk management is increasingly gaining importance. As integrated trading house we provide the needed market knowledge and an efficient, competitive infrastructure“. Moreover, Vattenfall Trading Services is responsible for the short-term and online optimisation of Vattenfall’s power plants in Germany and undertakes logistic tasks such as balance area management and scheduling. Apart from Germany and Scandinavia, Vattenfall Trading Services’ core markets are Poland, the Netherlands and France. In 2004 the trading unit had a turnover of approx. 1,000 TWh in physical and financial power trading. The basis for further expansion is already laid. “We are currently setting up a new trading unit in Poland,“ says Erik Saether. “As one of the first active players, Vattenfall Trading Services will play an important role in the development of the Polish market.“ The new trading unit in Gliwice (southern Poland) acts according to the business strategy of VTS, with a focus on trading, portfolio- and risk management. Business operation will start during early summer 2005. "In the medium term we expect the Polish market to develop similar to the German market“, is Erik Saether’s prognosis. For more information, please contact: Gabriele Rahn, Press Officer, Vattenfall Trading Services, telephone: +49 40 244 30 328. Martin May, Head of Group Media Relations, phone: +46 8 739 52 70 From Vattenfall's Press Office, telephone: +46 8 739 50 10.