Wells Fargo to offer electricity price risk management, RECs
US financial services company Wells Fargo is to offer an electricity price hedging facility, enabling middle market companies to manage their power costs.
In what is believed to be the first hedging programme offered by a major US bank to middle market companies with an annual electricity expenditure exceeding $1 million, Wells Fargo says that it intends to provide electricity hedges to help companies manage electrical pricing in concert with their physical supply contracts.
The bank currently offers interest rate, equity, credit, natural gas, metals, fuel and agricultural risk management products to its wholesale customers.
“As electricity costs
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