| In short, SEEL is closely working with mainstream/established utilities, traders, system operators and regulators to guarantee the smooth flow of power in the fragmented Central European power sector.
In addition to the above inter-country activities, SEEL trades electricity in the emerging domestic power markets in Central Europe. SEEL is in the process of acquiring domestic trading licenses in the Czech Republic and in Hungary and will actively market power to Eligible Customers in these countries. SEEL intends to acquire further trading licenses in the region and/or to co-operate with local trading partners in order to serve the diverse and ever-changing needs of Eligible Customers.
SEEL is one of the few commodity traders offering a whole range of structured products to its customers. Electricity indexed to metal prices and swaps on oil-linked gas contracts are examples. SEEL will offer further structured products (e.g. OTC options, option to toll) as soon as the local Central Markets reach the next stage of liberalization and market opening.
So far, as the gas sector is concerned, SEEL has discussed trading and access issues with the main players in the region. SEEL has created a network of contacts and is ready to start gas trading as soon as the relevant statutory, regulatory and contractual conditions are in place.
SEEL in Italy
SEEL is meeting the strong demand throughout Europe for commodity marketing and risk management services and fulfilling the needs of a growing and diverse customer base. In-house risk management expertise enables us to structure customized delivery and pricing programs that enhance and protect corporate energy portfolios.
SEEL started its Italian gas and power operations in January 2000. As Italian end user prices for gas and power prices are linked to Brent, Fuel Oil, Gas Oil and Coal, SEEL's Italian gas and power business can benefit from the strong trading positions that SEEL holds in those commodities.
Due to its strong position in the oil markets, SEEL has been able to structure OTC risk management products for customers with exposure to oil.
SEEL was the first company to offer swaps on Ct, Snam-Confindustria and Snam-Unapace formulas and it now offers a variety of hedging products to match any specific customer need. SEEL remains one of the few trading houses to offer any kind of gas and power formula without getting the customer to hold basis risks.
SEEL has also been trading the electricity physical market since 2000 and is now, after the start of the ''Borsa Elettrica'', one of the very few companies able to trade and offer financial swaps on the IPEX.
SEEL can also provide gas to customers in Italy that are allocated capacity on the TENP pipeline, due to SEEL's strong presence in the UK and Zeebrugge.
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