Swiss Atel Starts Electricity Derivative Trading Co

Swiss Atel Starts Electricity Derivative Trading Co

07/08/1999
Dow Jones International News
(Copyright © 1999, Dow Jones & Company, Inc.)

ZURICH (Dow Jones)--Aare-Tessin AG (Z.AAR), the Swiss power company known as
Atel, said
Thursday that it has set up a company for derivatives trading.

Atel said it's launching the new company, derivAtel, amid the deregulation
of Europe's electricity
markets.

"In this manner the market position of Atel will be strengthened," Atel said
in a press release.

The company will offer derivatives to hedge volatile electricity prices.

Atel said it received permission for derivative trading from the Federal
Banking Commission on July
1.

(END) Dow Jones Newswires 08-07-99

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