Faced with the ill effects of regulation, renewables and recession, Europe's utilities have had a torrid 18 months. That has increased the need for strong and capable risk management, which GDF Suez Trading has provided in abundance, both to its own corporate parent and externally to third parties.

Between 2012 and 2014, Paris-based utility Engie – then known as GDF Suez – reorganised its portfolio management and trading business, giving GDF Suez Trading a more central role in optimising the