Southern Energy Inc. begins energy trading in Europe

Southern Energy Inc., a unit of Southern Company, officially opened its European energy trading operation in Amsterdam, The Netherlands, today, focusing its operations on electricity trading in Nord Pool, the power pool serving Scandinavian countries.

Southern Energy, operating under the name Southern Energy-Europe BV, has its office at Dr. Willem Dreesweg 2, 1185 VB Amstelveen, The Netherlands.

“We’ll seek to expand our energy trading operations through Europe as quickly as market developments warrant,” said Rick Pershing, Southern Energy’s executive vice president overseeing international operations. “We’re very excited to begin trading today in the most mature European energy market available, and we look forward to participating in the Amsterdam Power Exchange later this year.”

Nord Pool on a typical day sees a turnover of 2.5 million megawatt-hours in forwards and futures contracts.

“We plan to be a significant player in Nord Pool,” Pershing said.

Southern Energy plans to watch all of Europe for expansion opportunities, but in particular will focus on a “North-South” corridor of energy markets stretching from the Nordic countries to Italy. In a strategy similar to the one employed by its Southern Company Energy Marketing venture in the United States, Southern Energy also will seek to associate European generation assets with its trading operations, through acquisitions or other means.

Southern Company Energy-Europe, a wholly owned operation, will be independent of Southern Company Energy Marketing, a joint U.S. trading and marketing venture with Vastar Resources Inc.

Southern Energy Inc. develops, builds, owns and operates power production and delivery facilities and provides a broad range of services to utilities and industrial companies around the world. Southern Energy supplies energy in 10 countries on four continents.

Southern Company (NYSE: SO), the largest producer of electricity in the United States, is also the parent firm of Alabama Power, Georgia Power, Gulf Power, Mississippi Power and Savannah Electric.