ElectroRoute crosses Irish Sea
Energy trader opens London office, appoints Tim Foster UK head
Irish energy trading company ElectroRoute has opened an office in London and appointed Tim Foster as head of UK services.
Foster was previously head of renewable energy origination at Statkraft and has more than 20 years’ experience in the energy sector.
He will work with clients in the UK to develop bespoke structures and contracts to enable customers to gain independent and flexible routes to wholesale energy markets, the company said.
The UK office is ElectroRoute’s first overseas base and follows its announcement in October 2016 that Mitsubishi Corp had taken a majority stake in the company.
Since the Mitsubishi announcement ElectroRoute said it has grown its staff to more than 50 from 40.
The company trades energy across nine European markets, including the UK.
ElectroRoute chief executive Ronan Doherty said: “Renewables have brought fundamental change to the old order of centralised electricity markets, rewriting the top-down control of the traditional energy supply model.
“There has never been a better time for ElectroRoute to bring its curiosity and experience to the UK market and we look forward to Tim leading our expansion into this dynamic marketplace.”