The rise of the money men
Wanted: company to trade power in the US. Strong credit, trading expertise and appetite for risk required. Only banks need apply? By Kevin Foster
With energy firms’ credit quality continuing to decline and leading power marketers cutting down their trading operations, many are looking to banks to restore some confidence. In September, Bank of America (BoA) took its next step into the US power trading sector, and at least one other bank may not be far behind. But can they resurrect this struggling sector, and what effect will their presence have on the market?
BoA applied for a licence to the Federal Energy Regulatory
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