Energy Trading Hedge Funds
Energy Trading Hedge Funds Hope for Rise in Demand
“I don’t believe it’s a good moment to be short anymore” in German power, Melis said.
The Paris-based International Energy Agency forecasts oil demand will pick up in 2010, while the drop in European power demand may have reached a floor, Lars Josefsson, head of the Nordic region’s biggest utility, Vattenfall AB, said in July. German power use slid 6 percent to 262 terawatt hours in the first half, according to data from utility group BDEW.
Melis, 41, worked as an energy trader at BP Plc, Statkraft SF, Reliant Energy Inc. and Delta Energy NV before starting the MMT Energy Fund in October 2006. It has returned 0.2 percent this year through August, according to data compiled by Bloomberg. The fund also trades in other European power markets, natural gas, coal and emissions. Source
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