JP Morgan exits power markets with Mercuria deal
Electricity firms are gloomy about JP Morgan’s departure from power markets, saying trading houses and oil majors are not providing the same level of liquidity as banks once did
JP Morgan's long-awaited deal to sell its physical commodities business to Switzerland-based trading house Mercuria, which was completed on October 3, had a little-noticed side effect: the bank's full exit from US and European power markets.
With the deal, JP Morgan completely severed its physical power business, while it is also in the process of winding down its financial power business
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