REPOWER AG In light of the mounting complexity of the trading business and the shrinking margins, Repower is concentrating trading market access primarily on its trading floor in Poschiavo, and plans to withdraw from certain trading markets in Eastern Europe and the Balkans. The markets previously served by the trading floor in Prague will in future be covered from Poschiavo, which will also continue to handle the company's origination activities. This restructuring of Trading at Repower will be phased in, and will take effect from 1 January 2016.
This will entail the closure of the office in Prague, which will affect around 20 employees.
With these measures, Repower is responding to the increasing complexity and ever tighter margins in energy trading in Europe. The new trading structure will also deliver efficiency gains in risk and contract management, and is in line with the ongoing structural optimisations.
Repower will thus in future operate with its two trading floors in Switzerland and Italy. It will carry out its asset management activities, cover all European markets with the exception of Italy, and conduct its origination business from Poschiavo in Switzerland. The unit in Milan, Italy, will remain responsible for the Italian electricity and gas business.
Trading at Repower will continue to focus on serving as the hub for all energy transactions, and on the optimisation of the company's own assets.
Contact:
Kurt Bobst
CEO
CH - 7742 Poschiavo
T +41 81 839 71 11
M +41 79 221 46 55
kurt.bobst(at)repower.com
Werner Steinmann
Head of Media Relations
CH - 7742 Poschiavo
T +41 81 839 71 11
M +41 79 831 52 13
werner.steinmann(at)repower.com
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