London, 19 october 2010
E.ON Energy Trading today announced that it has carried out its first transactionfor carbon emissions certificates at the New York-based Green Exchange, enteringinto a cleared over-the-counter (OTC) contract to buy December 2010 EuropeanUnion carbon allowances (EUAs) on Friday (October 15).
The move to begin trading at the Green Exchange is part of E.ON Energy Trading’s strategy to increase market access and continue developing its ability to trade environmental products, both in Europe and in the United States. The companyalready operates one of Europe’s leading carbon emissions trading desks, which in turn helps E.ON, one of the world’s largest power and gas companies, meet its compliance obligations within the European Union Emissions Trading Scheme (EU ETS).“The Green Exchange will give us better access to a US carbon market as it evolves, which will increasingly influence what happens in Europe. Going forwardwe expect to expand our range of traded products in the US to better optimisecorrelations between energy markets on both sides of the Atlantic. It’s not justthe European drivers we need to understand, but what is happening on a globascale,” says Tom Sargent, Director of power and emissions trading for E.ON Energy Trading.
E.ON Energy Trading already trades range of environmental products, includingEUAs and United Nations-certified Carbon Emissions Reductions (CERs), at theEuropean Carbon Exchange (ECX), the European Energy Exchange (EEX), Bluenextand Nordpool. The company began trading Regional Greenhouse Gas Initiativecredits (RGGIs) and Climate Action Reserve Carbon Reduction Tons (CRTs) the U.Searlier this year.
E.ON Energy Trading, backed the broadest and most diverse power and gas asset base in Europe, traded 1,498 billion kWh of gas , 1,240 billon kWh of power, and 500 million metric tons of carbon in 2009. The company is active in over 40 coun-tries and at all major exchanges and hubs throughout Europe.
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