Geneva,
20 August 2008 - Essent Trading executed its first power deals in
Hungary with Merrill Lynch Commodities Europe Ltd. and RWE Supply and
Trading GmbH. The deals for monthly power products represent a
milestone for Essent Trading in achieving its ambitions to develop its
energy portfolio in the emerging markets of Central and Eastern Europe.
Remco
Frenken, Senior Vice President Structured Origination, Central Europe
of Essent trading stated: "As we expand our business in Europe, one of
our key focus areas, is the emerging markets of Central Europe. Hungary
is a strategically important and well connected country for both power
and gas. The Hungarian market is less dominated by large incumbents
than most of the neighbouring markets. Essent Tradings experience with
long-term asset backed contracts and our cross commodity approach will
bring competition, liquidity and transparency to the Hungarian markets
and provide the market participant with a broad range of products and
services to manage risk."
About Essent Trading
Essent
Trading, headquartered in Geneva, Switzerland is a prestigious
asset-backed merchant energy trading house with its roots in the
Netherlands. Essent Trading is recognized as a market leader in energy
trading in Europe and has been voted as a top tier trading house by
Risk Magazine since 2004. Our parent company, Essent N.V. is the
largest energy company in the Netherlands with approximately 11,000
employees, more than 5500 MW of diverse generation portfolio and over
2.7 million customers across the Netherlands, Belgium and Germany.
Essent is ranked among Europe's leading companies in renewable and
sustainable energy generation.