European companies see more potential in energy trading than US counterparts
European energy companies display a more upbeat sentiment towards energy trading than their US counterparts, according to a PricewaterhouseCoopers survey published this week. The study was conducted throughout December 2002 by interviewing 107 senior executives in major utilities across 19 European countries.
The contrast in moods between US and European companies was reflected in their view of the outlook for pure trading activities, PwC added. Two-fifths of European utilities said they wanted to provide risk management services to other companies - which could be a fruitful opportunity for larger trading teams, PWC said. By contrast, 26% of US respondents said they were "severely curtailing or abandoning" energy trading. Also, 24% of European energy companies said they were trading purely speculatively - up from 5% a year ago - compared with 12% of their US rivals.
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