The wholesale energy market
Hera Trading is the Group company that operates on the wholesale gas and electricity markets.
It was created in 2004 by spinning off the Purchasing Department of Hera Comm, our sales company, in order to boost the integration towards the mid-stream of the Group, which until then only had sold to end consumers. It is therefore a company that aims to seize the opportunities that have arisen in the European energy markets as a result of liberalisation. It now has 44 employees, most of whom are recent graduates who grew up professionally within the company.
In addition to seeking to obtain profits from EE and Gas Trading and by offering Portfolio Management services to large energy consumers, it manages the sourcing of raw materials, optimises the portfolio and manages commodity risk for the Group's sales companies.
It is also in charge of the commercial management of the thermoelectric assets owned or in which the Group has a stake.
Hera Trading operates for gas at the Italian Virtual Trading Point and on the main European hubs (e.g., Baumgarten in Austria, NCG in Germany and TTF in the Netherlands), while for electricity, in addition to the Italian Power Exchange, it is present on the French, Swiss, German, Austrian, and Slovenian markets. With regard to its gas portfolio, Hera Trading can count on a particularly efficient mix based on spot (short-term) contracts that reflect the best conditions of the moment.
In 2013, Hera Trading signed a long-term agreement with the Shah Deniz consortium to purchase gas from Azerbaijan through the Trans Adriatic Pipeline (TAP), for which supplies are expected to start in the first half of 2021.
Asfor electricity, it has opted for a balanced and flexible supply mix, including purchases on the Power Exchange, imports from neighbouring countries and a modest share of independent generation.
Hera Trading also has EFET contracts with major counterparts in the European gas and electricity markets, as well as with the main Italian operators, and ISDA contracts with major financial players.
Below are the most relevant figures from the last three approved financial statements:
|
|
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
|---|---|---|---|---|---|---|---|
|
Turnover |
1,949 million |
1,435 million |
1,797 million |
1,672 million |
2,147 million |
2,558 million |
3,063 million |
|
EBITDA |
16.3 million |
15.6 million |
4 million |
25 million |
36.4 million |
20.4 million |
41.6 million |
|
Net result |
8.2 million |
7.8 million |
1.5 million |
16.6 million |
26.0 million |
15.4 million |
28.5 million |
|
Employees |
30 |
30 |
32 |
32 |
35 |
34 |
40 |
|
Gas sold |
2.9 billion m3 |
2.16 billion m3 |
3.0 billion m3 |
3.8 billion m3 |
5.2 billion m3 |
6.1 billion m3 |
9.8 billion m3 |
|
EE trading |
15.3 TWh |
14.1 TWh |
14.6 TWh |
15.3 TWh |
16.8 TWh |
16.9 TWh |
10.1 TWh |
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