Mercuria Energy Group is preparing to begin trading in Japan’s physical power market, the latest global commodities firm seeking to capitalize on the sector’s rising volatility.
Mercuria hired Masayuki Kato, formerly one of Itochu’s top electricity traders, as it gears up to join the country’s spot market, according to people with knowledge of the plans. That follows moves by other European energy companies, including BP and Engie, to expand in one of the biggest power-consuming nations.
Firms with a history of trading oil and gas are pushing into physical power markets, attracted by recent volatility and the opportunity to supply major utilities and manufacturers with coal, gas and carbon credits.
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