GDF Suez of France announced the opening of a gas and power trading floor in Rome, via the creation of GDF SUEZ Trading Italia. The new set-up will contribute to further optimizing GDF Suez’s portfolio in Italy by placing traders closer to the assets so as to better extract their value.
In Italy, GDF Suez ranks among the main energy players, with a comprehensive presence throughout the value chain: power generation, energy management and marketing of natural gas and electricity for over 1.3 million customers.
Following authorization from the Italian Securities and Exchange Commission, CONSOB, this local branch of GDF Suez Trading will trade physical and financial gas and power in Italian markets, respectively PSV (Punto di Scambio Virtuale) and PUN (Prezzo Unico Nazionale). These underlyings were previously traded from GDF Suez Trading’s Paris and Brussels offices. The newly born GDF Suez
Trading Italia will also strengthen and expand its own external client base. It will provide market access as well as risk management services to industrials and utilities to help them manage their exposure to energy price movements.
With the opening of a GDF Suez Trading Italian branch, GDF Suez continues to develop a client-driven business model, based on a local presence and proximity that allows it to be at the heart of the market and better respond to the specific needs of customers and counterparts.
Charles Hertoghe will be branch manager of GDF Suez Trading Italia, while day to day operations will be conducted by Christophe de Branche, Head of Trading and Origination of this new entity. The initial team consists of eight front officers (six traders and two originators). Most support functions will be handled from Paris and Brussels.