EnergyAustralia has named a new head of forward trading as it shores up a critical team in its energy markets business after several departures.reported that four traders had resigned from EnergyAustralia’s contract trading team after being poached by a newThe departures are a blow to EnergyAustralia, depriving it of experienced staff at a time of extreme volatility in energy markets, which could be heightened by the onset of winter and increasing domestic demand.
Matthew Shanahan has also been promoted to the role of electricity lead trader, reporting to Mr Quinn. The promotions, filling the two most senior vacancies, will ensure continuity for EnergyAustralia – the country’s third-biggest electricity and gas supplier – amid fears of market volatility.at its parent company CLP Group for the half year to June 30.
The losses have clouded EnergyAustralia’s transition plans. Although it has announced proposals for several new projects, it is yet to strike any partnerships of the kind that chief executive Richard Lancaster said last year were needed for new investment in renewables and storage assets.EnergyAustralia is also trying to lure customers into installing solar systems and batteries at their homes as it tries to boost its strategy to rapidly develop virtual power plants .