Gazprom wants to sell power to British
In order to sell electricity, Gazprom needs approval from the Office of Gas and Electricity Markets, Britain's energy regulator, and a license to sell power to commercial and industrial users, the Daily Mail reports.
Gazprom's British unit, Gazprom Marketing and Trading, hopes to obtain the necessary license by May so the company can start to offer electricity packages to potential customers.
Gazprom already has about 14,000 gas service customers and hopes to expand its British business to electricity.
Market analysts have reported the Russian company might try entering the British electricity market by purchasing an existing local company like Centrica.
Related News
France and Germany arm wrestle over EU electricity reform
PARIS - Despite record temperatures this October, Europe is slowly shifting towards winter - its second since the Ukraine war started and prompted Russia to cut gas supplies to the continent.
After prices surged last winter, when gas and electricity bills “nearly doubled in all EU capitals”, the EU decided to take action.
In March, the European Commission proposed a reform “to boost renewables, better protect consumers and enhance industrial competitiveness”.
However, France and Germany are struggling to find a compromise and the clock is ticking as European energy ministers prepare to meet on 17 October in Luxembourg.
The controversy around CFDs
At…
