EC approves EDF Trading
The European Commission has approved the creation of the joint venture – EDF Trading Ltd – by EDF and the French group Louis Dreyfus. The core business will be energy trading.
The two companies have agreed that EDF Trading will not directly or indirectly assist EDF in establishing prices or structuring contracts for eligible customers in France or assume risks associated with such complex offers until the French market is fully open.
The EC said that it welcomed developments of this type which advanced liberalization of the EU`s energy market.
Louis Dreyfus is a company whose main interests are energy and trading in raw materials such as oil, agricultural products and plastics. In the energy sector it has an oil refinery in Germany and various oil and gas activities in the USA.