BP provides our wholesale customers with secure, reliable electricity and innovative risk management services to help reduce the price volatility that can frequently affect local electricity markets.
Power origination and tradingProducing low-carbon power is only half the story. BP’s power and business brings this electricity to market. Combining the output of wind, gas, hydrogen power and solar is a complex business. But it's a business we know well. In 2003, we provided customers with more than 200mn MW hours of electricity. We're also a major electricity consumer at our own facilities. So we understand energy both as a customer and a supplier. That's why we're already among the top power marketers in North America. And as BP Alternative Energy grows, we intend to grow our marketing and trading business with it.
Our business is responsible for ensuring the electricity from our plants meets the needs of the local market (we call this dispatching). We also provide our wholesale customers with secure, reliable electricity and innovative risk management services to help reduce the price volatility that can frequently affect local electricity markets.
In many markets, we offer our customers options to buy low-carbon electricity, including certified green electricity and integrated solar and clean grid power solutions.
BP Alternative Energy will continue to lead the way in bringing low-carbon electricity to the market as reliable, cost-effective power.
In 1999, we began piloting an internal emissions trading program to help us achieve our CO2 reduction targets. In April 2002, BP completed the world's first registered emissions trade in a regulated national greenhouse gas market. And we are now a leading trader in the European Union Emissions Trading Scheme. In the US, BP's recently created Emissions Allowance and Renewable Energy Credit (REC) Trading and Origination team provides help through new market-based solutions, as permitted under applicable regulations.