Atel bolsters electricity derivatives trading activity

Richard Sandström has been appointed General Manager of derivAtel AG, the trading arm of Olten-based Aare-Tessin Ltd. for Electricity, Atel.

derivAtel appoints new General Manager

The 47-year-old Swede has many years' experience trading energy derivatives in northern Europe's liberalised energy market. Sandström, married and the father of three children, succeeds derivAtel's interim management in mid-August.

derivAtel was established on February 16, 1999, with a mandate to issue and trade electricity derivatives for risk management, and to complement the Atel Group's service offerings. Swiss financial market regulators granted derivAtel a trading licence effective from 1 July 1999. derivAtel gives Atel a vehicle for exploiting the diverse trading opportunities presented by the physical and financial electricity markets.

Aare-Tessin Ltd. for Electricity Corporate Communications