EDF and Getec create a German energy supply joint venture
The main German industrial energy supplier Getec Energie and the French EDF Trading (EDFT) have created a Getec Sales & Trading joint venture, they announced on September 6.
Based in Hanover, the company will position itself in the German market as a “dynamic and independent energy service company for Getec’s growing customer base”, they said. Its creation received regulatory approval from the national antitrust agency in April.
74.9% owned by Getec, the company will combine Getec’s âhighly scalable and largely automated platform for the provision, settlement and delivery of energy-related servicesâ with âfirst-class commercial access of EDFT in the futures market and a wide range of products in the wholesale trade. electricity, natural gas, petroleum, LPG, environmental products and LNG. “
Getec said the new joint venture “improves the framework conditions for all parties involved and we look forward to working with another strong partner”.
EDFT, which also has a joint venture focused on LNG optimization with Japanese trading house Jera, said the new company would also provide access to green solutions such as power purchase agreements and carbon offsets. Based in London, it is a 100% subsidiary of the public nuclear generator ElectricitÃ© de France.