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Neas Energy to Start U.K. Power Trading Company at Start of 2013

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Oct. 17 (Bloomberg) -- Neas Energy A/S, a Danish power-trading company, plans to start a U.K. subsidiary at the beginning of next year.

The company will open an office outside London in January or February and hire five or six people, Soren Petersen, senior vice president of Neas Energy, said today in an interview in London. U.K. power will be handled from Aalborg, Denmark, by the company’s 25 continental power traders, he said.

“We are entering into physical markets and have applied for supply licenses,” Petersen said. “As an investor you need clarity in support schemes and regulation in the U.K. creates a certain amount of uncertainty, in particular the terms and conditions of the contracts for difference.”

NEAS Energy is a member of the N2EX and APX-Endex exchanges and is already trading U.K. power on the BritNed interconnector between the U.K. and the Netherlands, Petersen said.

The company sells 50 megawatts of wind generation in the U.K. together with Opus Energy Ltd.

To contact the reporter on this story: Rachel Morison in London at rmorison@bloomberg.net

To contact the editor responsible for this story: Lars Paulsson at lpaulsson@bloomberg.net

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