French utility, GDF Suez, has launched an energy trading unit, The Wall Street Journal reports. The new subsidiary, GDF Suez Trading, formed by the merger of GDF’s Gaselys and Electrabel Trading units, will start its operations on May 2, 2011.
The unit has a capital resource of €1 billion, adds Reuters. The newly formed company will trade gas, power, coal, oil products and CO2 certificates, and handle total volumes of around 1,700 terawatthour per year.
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