JPMorgan is set to join the handful of investment and commercial banks that have begun trading electricity, according to DW sister publication Power Finance & Risk. A senior JPMorgan banker said David Puth, head of foreign exchange and commodity derivatives in London, is spearheading the push. Puth did not return calls.
JPMorgan will take a cautious approach to power trading at first, in part because of its experience working with Enron, according to the banker. "We're not going [to be] throwing millions of dollars into it right from the outset," he comments. The firm already trades oil and gas.
