Australian energy trader scales back its business
EdgeCap is to cease its market-making activities in electricity derivative contracts as part of plans to scale back its operations. The decision was made on March 15 by the shareholders of the Melbourne-based energy trader.
The shareholders – United Energy, Shell Australia and Woodside Energy – said EdgeCap would concentrate in the short term on managing the residual exposure in its trading book.
According to United Energy – also headquartered in Melbourne – EdgeCap’s trading portfolio was
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