ESB Independent Generation launches new Trading Room

Monday 23rd of July saw the official opening of ESB Independent Generation's Trading Room located on the 5th floor of Stephen Court, Dublin, headquarters of ESB International. The operation trades gas, electricity (UK and Ireland), carbon, oil and interconnector capacity. It was developed to ensure that ESB International can optimise energy operations and professionally manage the risks associated with the introduction of the Single Electricity Market (SEM) in November 2007.

ESBI's energy businesses consist of: ESB Independent Generation (ESBIg) responsible for the ownership of ESBI's national and international electricity generation assets (including, Hibernian Wind Group, Coolkeeragh generating plant) and ESB Independent Energy (ESBIE) a competitive electricity supply company selling energy solutions to business customers throughout Ireland.

Integrated Generation, Trading & Supply Model
"The new Trading function sits between these two businesses, co-ordinating generation assets and energy supply making an integrated Generation, Trading and Supply model in the SEM a reality for us," commented Michael McNicholas, Executive Director ESBI.

Michael continued, "From here we can actively manage our market exposure by monitoring fuel, commodity risk and trading products including Republic of Ireland, Northern Ireland and UK Grid power. My congratulations to all staff involved in making this happen. Special thanks also to our supporters including Group Risk, ESBIE, Coolkeeragh, Accenture, Version 1, not to mention ESBI Facilities and the Building Consultancy Group (BCG) who designed the Trading office."

The Trading Team
The Trading Team has expanded from two in 2006 to 11 with a diversity of backgrounds and experiences. Paddy Hayes, Manager, ESBIg commented, "We have former ESBIE staff and ESBI Engineering & Facility Management staff, not to mention those who were directly recruited. Team growth has facilitated new trading opportunities and has ensured we could create a Front, Middle and separate Back office structure - critical elements from a best practise point of view."

The launch was attended by up to 50 guests, including ESB Chief Executive, Padraig McManus, who congratulated all staff, management and partners for the hard work undertaken in developing the professional trading operation and for the intense work still required to ready ESBI for SEM 'go live'.

Interesting Facts

• The Trading Room is an oval shaped glass office designed by ESBI's BCG Group.
• It provides a secure environment for an operation that deals in highly sensitive information and large flows of money.