Hetco stops power trading

Hetco, the New York-based proprietary energy trading company, has closed its power trading desk. Hetco was created in 1997 as a joint venture between US oil major Amerada Hess and Stephen Hendel and Stephen Semlitz, two former partners of Goldman Sachs, who built the J Aron energy trading business in the 1980s and 1990s. Hetco has actively traded electricity for the past year.

An Amerada Hess spokesman told EPRM that although the business was profitable, Hetco decided the commitment required