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Commodity Business Awards 2011:
RWE Supply & Trading wins ‘Deal of the Year’ 2011
17.11.2011 + + + RWE Supply & Trading was awarded with the ‘Deal of the Year’ at
the Commodity Business Awards 2011. RWE Supply & Trading received this award for a long-term supply contract with the German national railway company, the Deutsche Bahn. This contract involves around 900 million kilowatt-hours of electricity per annum to be generated by RWE Innogy’s hydroelectric power plants over a period of 15 years.
“This prize demonstrates our competence and experience in the commodities business with large industrial clients as well as in the development of an innovative product which has set the benchmark for future transactions”, said Richard Lewis, RWE Supply & Trading Chief Commercial Officer Sales & Origination at the prize-giving ceremony in London. “We are supplying our long-standing client – the Deutsche Bahn – with a large volume of electricity from renewable energy. With this deal, the Deutsche Bahn comes closer to achieving their ambitious goal of using exclusively renewable energy by 2050.”
RWE Supply & Trading was successful in winning the award against other prominent nominees from the trading and financial service sector such as Morgan Stanley and Credit Suisse. “It was the contracts innovative and unique structure which won the day,” says Guy Isherwood, publisher of Commodities Now magazine and Commodity Business Awards patron. Such a contract which guarantees this amount of German hydropower is a first of its kind.
Over a period of almost two years, a RWE Supply & Trading team worked out, negotiated and brought the Deutsche Bahn contract to a conclusion in co-operation with RWE Innogy and RWE Power. The annual electricity supply of around 900 million kilowatt-hours is sufficient to run one-third of the Deutsche Bahn’s long-distance train fleet (Intercity-Express and Intercity trains). Through certified proofs of origin, RWE Innogy guarantees that their hydropower plants will feed the quantity of electricity into the grid required for the physical supply of electricity to the Deutsche Bahn.
About RWE Supply & Trading
RWE Supply & Trading is a leading European energy trading house. With an annual gas procurement volume of roughly 50 billion cubic metres, we are also one of the strongest competitors in the European gas industry. RWE Supply & Trading is the interface between the RWE Group and global wholesale markets for energy and energyrelated raw materials. Based in Essen, Germany, we are the hub for all tradeable commodities, in both their physical and/or derivative forms, including power, gas, coal, freight, oil, weather, emissions certificates and renewable energies. We are also responsible for the economic optimisation of the entire non-regulated gas business of the RWE Group, including all procurement, transport, storage and LNG-related activities. Our headquarters boast Europe’s largest and most sophisticated energy trading floor, complementing our network of additional trading floors in London and Swindon, as well as subsidiary and affiliate offices in Den
Bosch, Geneva, Singapore and New York, representative offices in Prague, Monterrey, Dubai and Ashgabat – and our joint venture in Houston.
www.rwe.com
Barbara Minderjahn
RWE Supply & Trading GmbH
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