JP Morgan Chase plans electricity trading foray

JP Morgan Chase is planning to enter power trading, just as the US energy regulator overturns its onerous stock-holding limit rule. PaulLyon reports

JP Morgan Chase is setting up a New York-based electricity trading desk, joininga growing number of banks that have entered the sector in the past year. TheUS bank’s head of foreign exchange and commodity derivatives, David Puth,says it is too early to comment on development of the power desk, adding: “Weare still very much in the planning phase.”

The development follows a decision by the US Federal Energy Regulatory Commission(Ferc) to effectively overturn rules that make power trading a

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