REN-Trading has as main purpose the purchase, sale, import and export of electricity and the purchase and selling of power system services as part of the management of the long-term power purchase agreements (PPAS).
The company was set up on June 13, 2007, to manage the PPAS not subject to early termination, in accordance with Decree-Law No. 172/2006, of 23 August.
In this context, REN Trading manages the PPAS concluded with Tejo Energia, for the Thermal Power plant of Pego (600 MW – coal fired), and with Turbogás, for the Tapada do Outeiro Thermal Power Plant (990 MW – natural gas combined cycle), as well as additional contracts regarding both.
The company’s main goal is the maximization of profits resulting from the sale of energy and system services on the market and the minimization of costs of the PPAS, according to the Regulator (ERSE) Decree 11210/2008.
Recently, in accordance with ERSE’s decision of September 2014 concerning the certification of both the Electricity and Natural Gas TSOs (National Transport system operators) REN-Trading changed its headquarters to the Praça de Alvalade, n.º7, in Lisbon, having been appointed a new Board of Directors: Nelson Cardoso (President) and Tiago Andrade e Sousa (Member).
This certification process also forced most back office services to be provided by external entities, namely accounting services, legal and audit. Its IT systems became completely independent from those of REN.
In this context, REN Trading uses, in a minimum term possible, the services provided by REN services, S.A., namely human resources’ management and Treasury.
Organizationally, in addition to the Board of Directors there are three operational areas: Contracts’ Management and Trade and two new areas, Administrative, Legal and Financial and IT Systems.