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| 03/07/2012 |
Centrica To Sell 30% Of Its Generation In The UK Day-Ahead Auction |
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Centrica, the parent company of British Gas, announced today that it has signed an agreement with N2EX, the UK power exchange run jointly by Nord Pool Spot and NASDAQ OMX Commodities, to sell at least 30% of the company’s generation in the N2EX day-ahead auction.
The generation and supply businesses of Centrica already trade their positions separately in the open market. In 2011, British Gas purchased 80% of its volumes from external counterparties. This new initiative will bolster the N2EX exchange and strengthen the industry’s drive to increase liquidity and improve market transparency.
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Mark Hanafin, Managing Director, said "Centrica is leading the way with energy market reform, from transparent bills to simplified tariffs. This agreement represents another step towards greater power market liquidity, facilitating trading opportunities for all market participants."
(CD/GK) |
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