JERA AND EDF TRADING EXPAND JOINT VENTURE TO INCLUDE JAPANESE POWER
London/Singapore/Tokyo, 27 March 2025 – JERA Co., Inc. (“JERA”), EDF Trading Limited (“EDFT”) and JERA Global Markets Pte. Ltd. (“JERAGM”) are pleased to announce the expansion of JERAGM’s remit by its shareholders to include Japanese power trading. The respective Japanese power trading businesses of JERA and EDFT will be merged to operate alongside JERAGM’s global trading and optimisation business. JERAGM is a joint venture between shareholders JERA (66.67%) and EDFT (33.33%) and the exclusive fuels optimiser for both shareholders.
This integration strengthens the long-standing cooperation between JERA and EDFT which was established in 2008[1] and draws from the complementary roles of JERA, as a leading utility in Japan, and EDFT’s in-depth knowledge and experience of the power markets in Europe and North America.
This transaction will take effect from 1 April 2025. The integrated Japanese power trading activities are expected to benefit from JERAGM’s comprehensive trading platform, governance and risk management frameworks. The business will operate out of the Coredo Nihonbashi building in Tokyo with a team of over 50 diverse and experienced professionals driving and supporting the business.
“We have entered into a new chapter of this enduring and collaborative relationship with EDF Trading which commenced with coal and LNG trading,” said Kazunori Kasai, Chief Optimisation Officer of JERA and Chairman, JERA Global Markets, “This collaboration is a major step forward into the field of optimisation, which is one of the three operational capabilities of JERA’s 2035 growth strategy. Power trading is strategically aligned with the global trade of fuels and we are confident the synergies of these businesses will contribute to the revitalisation of the domestic power market in Japan.”
“As a global multi-commodity utility-backed trader, with 25 years’ experience in optimising assets in the European and US power and gas markets, we are very pleased to expand our partnership with JERA to include Japanese power trading. We very much look forward to combining our complementary strengths to support JERA’s strategic ambitions in Japan,” said Béatrice Bigois, Chief Executive, EDF Trading.
“As a leading asset-backed trader with an active presence in global energy markets, Japanese power trading presents opportunities for greater optimisation and flexibility across the energy value chain,” said Justin Rowland, CEO of JERA Global Markets, “With the majority of our traded fuels being delivered into Japan, this market is important to us. We are committed to promoting greater liquidity in the Japanese power market, further supporting market efficiencies.”
[1] In 2008, EDFT and Chubu Electric Power Company commenced coal supply arrangements. JERA Co., Inc. is a joint venture between TEPCO and Chubu Electric Power Company.
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About JERA
Established in 2015, JERA is an equal joint venture of two major Japanese electric power companies, TEPCO Fuel & Power Incorporated and Chubu Electric Power Company and produces about 30% of all electricity in Japan. JERA is an energy company with global reach that has strength in the entire energy supply chain, from participation in LNG upstream projects and fuel procurement, through fuel transportation to power generation. JERA, which stands for Japan’s Energy for a New Era, will take on the challenge of achieving zero CO2 emissions from its domestic and overseas businesses by 2050 and is supporting an energy transition in an environmentally and socially responsible manner.
About EDF Trading
EDF Trading is a leader in the international wholesale energy markets. The company manages a 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 active in the electricity, natural gas, LPG, oil, green fuels and environmental products markets. It is also active in the LNG market via JERA Global Markets (“JERAGM”). EDF Trading is one of the largest wholesale market traders in Europe for power and gas. In North America, EDFT is one of the leading marketers of gas and power and one of the main providers of generation services for power generation companies.
EDF Trading is a 100% owned subsidiary of EDF SA., one of the world’s biggest electricity generators and a leader in low-carbon production.
EDF Trading has around 800 employees with key offices in London, Paris, Singapore, Tokyo and Houston. For more information, please visit www.edftrading.com.
About JERA Global Markets
JERA Global Markets (JERAGM) is a leading utility-backed seaborne energy trader. A joint venture between majority shareholder JERA Co., Inc. and EDF Trading Ltd, JERA Global Market’s shareholders are among the world’s major utilities. JERAGM operates one of the most exciting energy portfolios in the world which gives it an in-depth understanding of the way local, regional and international energy markets behave.
Headquartered in Singapore, JERA Global Markets has a global talent pool of more than 300 people across offices located in four strategic locations: Singapore, Japan (Tokyo), the UK (London) and the US (Houston). JERAGM is strongly capitalised with over US$500 million in paid up capital and a total equity of US$4 billion. JERAGM has been affirmed an AA- Stable credit rating from R&I (upgraded from A+ Stable in October 2024), attributable to a robust business model and solid financial base. For more information, visit www.jeragm.com.
PRESS CONTACTS
JERA: Media.Relations@jera.co.jp
EDFT: michele.reid@edftrading.com
JERAGM: Communications@jeragm.com