GEN-I reaches a new international milestone in the United States
At GEN-I, we have become an official member of the PJM market, one of the largest and most significant organised electricity markets in the world. Through our subsidiary, GEN-I Trading North America LLC, we have been granted approval to trade Virtual Transactions (Virtuals) and Financial Transmission Rights (FTRs), marking one of the key milestones in the initial phase of the GEN-I Group’s business development in the United States.
Just a few months after entering the U.S. market and establishing GEN-I Trading North America LLC in Houston, we have achieved one of the most important strategic objectives of the first phase of our expansion into the United States. Membership in the PJM market confirms the successful establishment of the required trading, regulatory and operational infrastructure and represents another step in delivering our long-term strategy of developing GEN-I into a global energy trader.
"Membership in the PJM market is an important confirmation that we have reached one of the key milestones of the first phase of our entry into the U.S. market. It is the result of intensive work by our teams in Slovenia and the United States and confirms that we possess the expertise, analytical capabilities and infrastructure required to operate successfully in the world’s most competitive energy markets. This is another step in the development of GEN-I into a global, trusted and innovative energy group," said Igor Koprivnikar, PhD, MBA, Member of the Management Board of GEN-I.
Since launching regular trading activities in Houston at the beginning of this year, we have been systematically building our presence in the North American market. During this period, we have established a local trading floor, assembled a team of experienced American and Slovenian professionals, and secured key licences and memberships required to operate in U.S. energy markets.
PJM Interconnection operates the largest electric power grid in North America and one of the world’s largest organised electricity markets. Serving more than 67 million people, it is recognised for its high liquidity and advanced locational pricing system, which enables trading in sophisticated energy financial instruments such as Virtual Transactions and Financial Transmission Rights (FTRs).
"Driven by the rapid growth of renewable energy sources, digitalisation and rising electricity demand, the U.S. market is emerging as one of the most attractive trading environments in the world. The PJM market provides an important platform for the further expansion of our activities while contributing significantly to the diversification of the GEN-I Group’s global portfolio. Our objective remains a gradual and disciplined expansion into key U.S. markets, supported by prudent risk management and a responsible approach to market participation," added Igor Koprivnikar, PhD, MBA, Member of the Management Board of GEN-I.
With our entry into the PJM market, we have secured access to all three U.S. electricity markets identified as strategic priorities in the first phase of our expansion into the United States. Following previously obtained memberships in the MISO and ERCOT markets, entry into PJM further strengthens our position as a reliable and globally oriented energy trader.
Today, the GEN-I Group operates in 27 countries. Our expansion into the United States represents a continuation of our long-standing international growth strategy and a natural extension of the expertise and experience we have developed across European energy markets.
