Centrica and EdF Trading conclude power trading deal

Centrica plc’s Accord Energy trading arm today announced it has concluded a power trading deal with EdF Trading, brokered by Spectron on Thursday 20 January. The deal marks the first significant transaction on the IPE’s UK Electricity Baseload Index.

The agreement, which is priced at the IPE’s Front Month Index, is for a volume equating to around 500MW of baseload power, to be delivered in March 2005.

Irfan Mannan, Director of Gas and Power Trading for Centrica, said: "Centrica is pleased to be party to an agreement of this volume through the IPE’s UK Electricity Baseload Index. As a key player in the UK’s traded gas and power markets, Centrica hopes that deals such as this will stimulate the forward power market and offer greater liquidity to benefit all participants."