Apart from its various rights to transport capacity in the European network, EDF group participates, through its Edison subsidiary, in infrastructure projects for gas importation (see section 1.4.5.2.3.2 “Gas business”).
In line with the Group’s gas strategy, EDF is the main shipper that uses the Dunkirk LNG terminal in the long term.
EDF retains the right to use 80% of the Rovigo offshore terminal’s regasification capacity, i.e. 6.4 billion cubic metres per year, through Edison (see section 1.4.5.2.3.2 “Gas business”).
The Group also holds regasification capacities in the terminal of Zeebrugge (Belgium).
Since 2018, Edison has been overseeing the small scale LNG project, the aim of which is to develop a supply chain to sell LNG in Italy, as well as build the first coastal depot facility and a small scale LNG terminal. The goal is to help reduce CO2 emissions for road and sea transport (see section 1.4.5.2.3.2 “Gas business”).
The first depot facility, which is now completed, has a capacity of over 1 million cubic metres of LNG per year (Edison will have right of use to 85% of the facility’s capacity). The sale of LNG started in November for wholesale market customers.
In Germany, the EDF group has storage for natural gas in salt cavities located in Etzel. EDF has around 190 million cubic metres of volume capacity. The above ground facilities are operated through a 50/50 joint venture with EnBW.
With respect to storage activities of the Group in Italy and in the United Kingdom, see respectively, sections 1.4.5.2.3.5 “Regulated activities” and 1.4.5.1.2.3 “Thermal generation and gas storage”.
The Group also holds storage rights in the Netherlands, Belgium and France.
In December 2020, Edison announced the sale of its oil & gas exploration and production business, excluding Algeria and Norway, to Energean. In March 2021, Edison withdrew from this sector in Norway, having finalised the agreement for the sale of 100% of Edison Norge that was signed with Sval Energi on 30 December 2020.
EDF Trading (EDFT) is the EDF group’s interface to the wholesale energy markets providing market, optimisation and risk management services to EDF group as well as third parties. The company operates across Europe, North America and Asia in the wholesale markets for electricity, natural gas and LPG. EDFT also provides counterparties and customers with access to financial oil and environmental products. For LNG, coal and related freight activities, EDFT carries out these activities through JERA Global Markets in partnership with JERA of Japan. Through its North American subsidiary, EDFT is one of the main service providers to electricity producers and energy suppliers and one of the three leading electricity suppliers per volume for major-account customers in sales and industry.
EDF Trading’s registered office is located in London. The company has around 840 employees globally and its regulated activities are authorized by the UK’s financial market regulator, the Financial Conduct Authority.
Among other things, EDFT provides a full range of wholesale market services to EDF DOAAT (see section 1.4.3 “Optimisation activities for EDF in France”) and EDF Customers Division in France and serves as a route to market for other entities of EDF group.
EDF Trading is a leading participant in the European electricity wholesale market trading almost 2,000TWh annually. The company provides a full range of risk management services to EDF group’s asset operators and to third parties. It has an extensive geographic footprint and scale of activity which makes it able to adapt quickly to changes in the market and to develop new business, to take advantage of market opportunities where appropriate.
EDF Trading is a leading participant in the European gas wholesale market trading 590bcm annually. It optimises EDF entities’ gas assets including production, transmission rights, long-term supply contracts and re-gasification and storage capacities. This enables EDFT to support the EDF group and third parties with complete gas wholesale market solutions. In 2021, EDFT expanded its flow activities with an increasing number of counterparties or suppliers in Europe and some major players accessing the European markets to hedge their portfolio.
EDF Trading North America is a leader in the wholesale energy markets in North America, where it benefits from broad geographical coverage, offering solutions to customers across the entire North American energy value chain. It provides energy management solutions, natural gas supply, and real-time services for electricity producers in the USA. As one of the leading suppliers of generation services for power plants in the USA, EDF Trading North America manages over 30GW for 105 electric power plants. For retail energy aggregators, it provides supply services on the wholesale market, as well as services to interface with Independent System Operators (ISOs) in various states in North America.
Ranked in the top three electricity suppliers per volume to commercial and industrial customers in North America, the retail supply and services team offer natural gas, electricity, and environmental products to a portfolio of commercial and industrial customers, managing a portfolio of 2.6GW of customer demand response. In 2021, EDFT expanded its market coverage and developed its activity to serve the interest of C&I customers for renewable energy supply.
EDF Trading is committed to the environmental products marketplace and, in line with the EDF's raison d’être, it offers a broad range of multi-commodity hedging solutions that support the EDF group and third parties decarbonization targets around the world. EDF Trading is active in the compliance and voluntary carbon markets, guarantees of origin certificates in Europe, Renewable Energy Certificates in the US, and International Renewable Energy Certificates in the rest of the world. In addition, it is a recognised provider of risk management products in the European weather market. In 2021, EDF Trading developed its activity to support EDF group entities’ green marketing initiatives and to propose high quality certificates to counterparties interested in offsetting their carbon footprint. In 2021, EDFT continued to develop its PPA (1) activity to support renewable energy development and established a green fuels trading desk to support the transition to less CO2 intensive sources.
Following the sale of its coal and freight business to JERA in April 2017 and the merging of their LNG optimisation and trading activities into JERA Global Markets in 2019, EDFT holds a 33% financial stake in JERA Global Markets, a leading seaborne energy trader. In 2021, the Company continued to develop its global activities, in particular in the LPG market and the Japanese Power market.
(1) Power Purchase Agreement.
