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Transpower To Close Trading Platform EmsTradepoint
Transpower has decided to close its gas and carbon trading platform emsTradepoint later this year, after consulting with staff, and a process to identify a prospective purchaser was unsuccessful.
emsTradepoint was established in 2013 to create a liquid gas trading platform to support one of Transpower’s critical roles - security of electricity supply. In 2020 the NZU carbon product was added to the platform.
While the platform has improved the liquidity of the gas market and supported the development of a carbon market, the operations are not considered core to Transpower’s business and its extensive electrification work programme. Transpower has therefore decided that owning and operating the trading platform is no longer in its interests and it will commence a managed close of the platform with closure effective 1 September 2024.
All existing customers of emsTradepoint will be contacted directly and all existing trades will be honoured.
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