01 April 2010
Macquarie Group (“Macquarie”) (ASX: MQG; ADR: MQBKY) today announced that its subsidiary, Macquarie Energy LLC, has completed the acquisition of substantially all of the wholesale electric marketing and trading portfolio (“Portfolio”) of Integrys Energy Services, Inc.
The Portfolio consists of various power transactions, products and trading positions, including physical forwards, financial transmission rights and derivatives. The electric portfolio of Integrys Energy Services has had an average total volume in excess of 125 million megawatt-hours (MWh) over the past 3 years.
Headquartered in Houston, Macquarie Energy was formed following the merger of Macquarie Cook Power and Macquarie Cook Energy in February 2010. Macquarie Energy’s electricity trading and marketing business services North American electricity producers, utilities, municipalities, industrial users and other wholesale energy sector participants.
Macquarie Group (Macquarie) is a global provider of banking, financial, advisory, investment and funds management services. Macquarie’s main business focus is making returns by providing a diversified range of services to clients. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries and employs more than 14,000 people. Assets under management total more than US$300 billion. For more information, visit www.macquarie.com.
Through its Fixed Income, Currencies and Commodities (FICC) Group, Macquarie is active in a broad range of financial and physical commodities markets globally, with a worldwide team of professionals who have in-depth knowledge across a range of commodity sectors.
About Macquarie Energy
Macquarie Energy is the North American energy marketing and trading arm of Macquarie Group, specializing in short-and long-term energy supply, asset optimization and management, hedging solutions, sophisticated risk management tools, and structured transactions for various natural gas and electricity producers, utilities, municipalities, industrial users and other energy sector participants in North America.
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