Mercuria Joins Trader Push Into Japan’s Spot Electricity Market
- Firm is said to add Itochu’s Kato amid preparations to expand
- Interest rising in physical trades after push into derivatives
An electricity transmission tower in Daito, Japan.
Photographer: Soichiro Koriyama/BloombergThis article is for subscribers only.
Mercuria Energy Group Ltd. is preparing to begin trading in Japan’s physical power market, the latest global commodities firm seeking to capitalize on the sector’s rising volatility.
Mercuria hired Masayuki Kato, formerly one of Itochu Corp.’s top electricity traders, as it gears up to join the country’s spot market, according to people with knowledge of the plans. That follows moves by other European energy companies, including BP Plc and Engie SA, to expand in one of the biggest power-consuming nations.