Chubu Electric and EDF Trading Expand the Coal Partnership 03/9/2010
Chubu Electric Power Co. Inc. reached agreement with EDF Trading Limited to expand the partnership in coal procurement and trading, with the primary objective to enhance the coal procurement for Hekinan Thermal Power Station.
Currently, Chubu Electric procures coals through its own direct contracts with sellers or through the contracts with Chubu Energy Trading Inc. Chubu Energy Trading is a wholly owned subsidiary of Chubu Electric engaged in coal trading businesses under the current partnership between Chubu Electric and EDF Trading.
Under the new expanded partnership, Chubu Electric will appoint Chubu Energy Trading as the agent of its own coal and freight contracts, which will have Chubu Energy Trading, undertake all the operational matters related to the contracts. Chubu Energy Trading will, therefore, be the Chubu Electric's exclusive face to the market in charge of Chubu's entire coal portfolio from April 2010.
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