TFS Energy Brokers Groundbreaking Environmental Contract04/02/2008
STAMFORD, CT (April 2, 2008)— Tradition Energy today announced that its parent company, TFS Energy, has brokered the first ever Certified Emission Reductions (CER) contract on the European Climate Exchange (ECX).
The trade, which transacted on March 13, was for 10,000 tonnes of December 2008 CERs at Euros 16.5 per ton between Barclays Capital, the buyer, and Essent Trading International S.A., the seller. The ECX CER contract, with secondary CERs as the underlying unit of trading, will be listed and admitted to trading on the ICE Futures electronic platform. Louis Redshaw, Head of Environmental Markets at Barclays Capital, said “this trade further demonstrates Barclays Capital’s commitment to the environmental markets and our desire to drive transparency and standardization.”
John Molloy, Manager for Emissions Brokering at TFS Energy said: “the deal further solidifies trading opportunities within the rapidly expanding global carbon markets. TFS Energy is at the heart of innovation in carbon trading and this will undoubtedly spur further interest.”
“TFS Energy continues to reinforce its position as an innovative global leader in the emerging field of emissions brokering,” said Alan Kurzer, President, Tradition Energy. “Tradition Energy advisors leverage this expertise to help commercial, industrial and governmental customers develop energy strategies that include environmental products.”
Environmental products are tradable financial instruments that include carbon credits, renewable energy cerfificates (RECs), SO2 allowances and NOx allowances.
TFS Energy was also recently named Best Broker in the EU Emission Trading Scheme category by Point Carbon, the leading news service and analysis provider for emissions in Europe.
Media Contact: Jennifer Santiago, (713) 609-9927, jsantiago@traditionenergy.com
About Tradition Energy
Tradition Energy is one of the nation’s largest energy procurement advisors, helping commercial, industrial and governmental organizations manage electricity and natural gas costs in volatile deregulated energy markets. Tradition Energy is a division of TFS Energy, a top wholesale energy brokerage with eight offices worldwide, over 200 employees and in the energy business since 1985. TFS Energy was recently awarded 14 awards, more than any other company in the 8-year history of Environmental Finance magazine’s industry survey. TFS is a subsidiary of Compagnie Financiére Tradition (CFT), a leading global inter-dealer broker in financial and commodity-related products with a presence in 24 countries and over 2,200 employees. For more information, please visit www.traditionenergy.com