Centrica may start trading activities in Italy in one to two years
UK multi-utility Centrica could start trading activities in Italy in the next one to two years as a way into the market, the company’s development director Alan Wyatt told EGM. He said the company was planning to use a similar strategy to the one used to enter the Spanish market, where it has an electricity marketing venture called Luseo Energia.
Centrica does not currently have any customers or trading activities in Italy. If Centrica does enter the Italian trading markets, it would be in both gas and power, Wyatt said. The company’s trading arm Accord has supplied gas for Italian importers in Germany but has not imported directly into Italy itself.
However, he said that the wholesale scenario in Italy is currently very difficult and that Centrica would be unlikely to enter the market without the help of local partners and or assets. Gas supply in Italy is currently dominated by Eni and power supply by Enel with import constraints on both markets.
Wyatt said Centrica currently has no concrete customer propositions in France. He stressed that although Centrica aims to be present right across Europe within three years, the lack of market opening in many markets was still a big obstacle. “The lack of value chain in Europe holds us back,” he said.
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