EDF Trading and SBB sign exclusive long term power supply agreement
EDF Trading, a wholly-owned subsidiary of EDF S.A., and SBB, the Swiss Federal Railways, have signed a 10 year agreement for the supply of electricity to the Swiss railway network.
From 2013, SBB will require an additional 400 GWh* of electricity per year and has decided that the power be procured from renewable sources. EDF Trading has therefore arranged for the supply to be provided by EDF’s Kembs hydroelectric plant on the Rhine, North of Basle.
The contract will commence in 2013 and will run until 2022.
“This transaction demonstrates our ability to deliver a bespoke structured transaction meeting all the requirements of SBB at an attractive price”, said Philipp Büssenschütt, Global Head of Origination at EDF Trading.
“We have the expertise required to provide our customers with long term supply agreements to meet their energy needs and are happy to provide this type of unique service,” said John Rittenhouse, Chief Executive at EDF Trading.
*The additional 400 GWh required by SBB accounts for 17% of total Swiss railway electricity consumption.
For further information, please contact:
Michele Reid, Head of Communications
Tel: +44 (0) 20 7061 4232
About EDF Trading
EDF Trading is a leader in the international wholesale energy markets. It has its own portfolio of assets which give it the ability to source, supply, transport, store, blend and convert physical commodities around the world. These capabilities enable EDF Trading to deliver essential asset optimisation services, risk management and wholesale market access to the EDF Group and its third party customers, helping them to realise the value inherent in their asset portfolios.
EDF Trading is one of the largest participants in the global power, gas, coal, freight and environmental products markets. It is one of the top buyers of carbon credits from global CDM projects and has one of the most mature portfolios in the market. It is the largest importer of coal into Europe, a pioneer in the biomass market, a recognised leader in weather derivatives, one of the largest providers of market services to the wholesale gas and power sectors in North America with 18,000 MW of generation under management and the leading electricity trader in Europe.
EDF Trading is a 100% owned subsidiary of EDF. The EDF Group, one of the leaders in the European energy market, is an integrated energy company active in all areas of the business: generation, transmission, distribution, energy supply and trading. The Group is the leading electricity producer in Europe.For more information on EDF Trading, please visit www.edftrading.com.