12.12.2017 - Axpo is expanding its private customer business in Italy: In order to continue developing its customer base, Axpo Italia SpA has acquired a 5-per cent minority share in Alleanza 3.0 Luce e Gas SpA. This company is part of the largest cooperative belonging to the leading Italian retail chain Coop (Cooperativa di Consumatori), and is active in power and gas trading for private customers.
Italy is one of Axpo's most important markets: EGL, the predecessor company of today's Axpo Trading AG, was already active in Italy in the 1990's owing to its cross border trading activities. Originally the focus was on wholesale customers, followed by SME customers. Today, Axpo Italia is the fourth largest service provider in the private customer business. As a result of market liberalisation, private customers in Italy have been able to choose their power and gas providers for years.
Since 2014, Axpo Italia has been working closely with Coop Alleanza 3.0, Coop Italia's largest regional cooperative. The Coop Alleanza 3.0 branch network extends from Northeastern Italy along the Adriatic Coast to Sicily across 12 regions and includes over 400 branches. Axpo Italia supplies the company with electricity that Alleanza 3.0 Luce e Gas sells to retail customers all over the country. In order to further expand its private customer business and intensify the existing business relationship with Coop Alleanza 3.0, Axpo Italia has acquired a 5-per cent interest in Alleanza 3.0 Luce e Gas. In doing so, Axpo Italia has gained access to the 2.5 million Coop Alleanza 3.0 customers.
Domenico De Luca, Head of Trading and Sales at Axpo, explains: "Axpo must ensure profitability in a difficult market environment. That also includes the entry into targeted new business areas and partnerships with leading companies in order to generate additional income. Axpo Italia has consistently aligned its energy trading and customer business to growth. The interest in Alleanza 3.0 Luce e Gas is the next step for us to further improve our position in the Italian private customer business."
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