Swedish utility Vattenfall's central trading platform Vattenfall Trading Services has setup physical gas trading at the UK-based virtual trading location, National Balancing Point, and has executed its first over-the-counter transaction at the hub.
Vattenfall’s trading unit started its gas activities in early 2006. Since then, a gas department has built up infrastructure and risk management for the transport, storage and trading of gas. Vattenfall Trading Services is the central trading platform for the Vattenfall Group and reportedly one of the major players in the European wholesale trading.
The company provides portfolio and risk management services to all Vattenfall units and trades physical and financial electricity, CO2, gas, oil, physical and financial coal and freight, currencies and aluminum.
Henrik Valgma, head of Vattenfall Trading Services, said: In line with the expansion of our gas trading business, it is essential for us to be an active player on Europe’s most liquid gas trading point. Trading at NBP (National Balancing Point) is the next step in completing our portfolio and will enable us to exploit additional trading opportunities between different geographical hubs and commodities.