What Enetrade does

Enetrade is a Tokyo-based B2B power wholesale intermediary founded in March 2017 that procures electricity from generators and resells it to Japan's retail electricity suppliers (小売電気事業者) via bilateral over-the-counter (OTC) contracts. The company operates a single balancing group, allowing clients to transact only with Enetrade rather than negotiating with multiple power producers, enabling flexible lot sizes, cross-area delivery, and end-of-month payment terms. It is a subsidiary within the elDesign group and serves over 60 retail electricity supplier clients across all 9 JEPX areas of Japan (excluding Okinawa).

The company's core technical proposition is the application of financial derivatives — option caps and swaps — to electricity trading. Its product suite includes Cap Trade (a capped-price JEPX spot hedge with option premium), Fuel Adjustment Swap (cross-area, cross-fuel cost spread reduction), Area Swap (fixed-price cross-region delivery using financial transmission rights), and Intraday Swap (fixed-price intra-day surplus/deficit matching). The enetrade online platform, launched January 2022, provides 24/7 web-based access for product discovery, transaction applications, and power market data. Revenue is generated through trading spreads, option premiums, and transaction fees on these OTC contracts, with pricing negotiated individually per client.

Enetrade raised JPY 15 million (approximately USD 141,000) in March 2018 from a third-party share allocation subscribed equally by Japan Petroleum Exploration (JAPEX), Toppan Printing, and parent elDesign, bringing registered capital to JPY 30 million including reserves. The company filed for civil rehabilitation (民事再生手続) with the Tokyo District Court on October 9, 2025; selected eREX Co., Ltd. (TSE Prime-listed) as rehabilitation sponsor on February 9, 2026; and executed the transfer of its power wholesale business to eREX on March 31, 2026. The civil rehabilitation proceedings are ongoing with reconstruction pursued under eREX sponsorship, while the original Enetrade legal entity is in restructuring.

Name

Enetrade

Legal name

Eneトレード株式会社

Website

https://enetrade.jp

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Enetrade is a Tokyo-based B2B power wholesale intermediary that provides OTC power procurement, financial-derivative risk hedging products, and balancing group services to over 60 retail electricity suppliers across Japan's 9 JEPX areas.

Ownership category

akta.pro rank

Product category

Electricity Wholesale / Power Trading Services

NAICS

Commodity Contracts Intermediation (523160), Commodity Contracts Intermediation (52316), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Commodity Contracts Brokers & Dealers (6221)

akta.pro primary industry

ETRM/CTRM Platforms & Trade Capture (EUAGAJAA)

akta.pro secondary industry

Trading Platforms, ETRM/CTRM & Market Connectivity (APIs, Messaging, Integrations) (EUAMAMAN)

Keywords

• Electricity wholesale services
• Power procurement trading
• OTC power contracts
• Electricity price hedging
• Financial derivatives power

Headquarters

HQ city

Tokyo

HQ country

Japan

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Power wholesale / OTC trading services: Enetrade procures power from generation sources and resells to retail electricity suppliers via OTC (over-the-counter) contracts. Revenue is generated through the margin between procurement and selling prices, with flexible contract terms negotiated per client. Services include Cap Trade (option premium fees), Fuel Adjustment Swaps, and Area Swaps, all conducted as bilateral OTC transactions rather than through JEPX exchange.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Enetrade procures electricity from power generators and resells it to retail electricity suppliers (小売電気事業者) in Japan through bilateral OTC (over-the-counter) contracts settled via its balancing group. Products are structured as financial-engineering instruments — Cap Trade (JEPX price-cap hedge), Fuel Adjustment Swap, Area Swap, and Intraday Swap — enabling retail electricity sellers to hedge market price volatility, fuel cost spread risk, and inter-area price differentials. The company also operates "enetrade online," a web platform for OTC product discovery, transaction application submission, and market information access.

Product overview

Enetrade provides power wholesale services to retail electricity suppliers through a platform-plus-products architecture. The enetrade online platform serves as the digital interface for product discovery, transaction applications, and market intelligence. The core product portfolio consists of three financial derivative products applied to electricity trading: Cap Trade (for JEPX price cap hedging), Fuel Adjustment Swap (for fuel cost spread risk reduction), and Area Swap (for inter-regional price risk elimination), plus Intraday Swap (for intra-day surplus/deficit balancing). All services use Over-The-Counter (OTC) contracts and balancing group transactions, enabling flexible, tailor-made solutions for power procurement cost stabilization.

Differentiator

Problem solved

Functional benefit

Brands

• enetrade online: Online platform service for retail electricity suppliers enabling 24/7 product search, trade application submission, and power market information access. Launched January 2022.

Products and services

• Cap Trade (キャップ・トレード) Spot power trade settled at the JEPX area price with a capped upper limit on the JEPX price. Hours that hit the cap level are settled at the cap price, giving the client a known maximum payment and protection against extreme price spikes. A transaction fee (option premium) applies. Designed for retail electricity suppliers hedging against JEPX volatility.
• Fuel Adjustment Swap (燃調=swap) Swap that reconfigures fuel adjustment charges on both the buy (generation cost) and sell sides by retail area, power source, and fuel type (oil, LNG, coal). Reduces fuel adjustment spread risk and improves cash-flow forecasting for retail electricity suppliers.
• Area Swap (エリア・スワップ) Fixed-price physical power trading between demand balancing groups in areas where both client and Enetrade can buy and sell directly. Eliminates area spread risk. Leverages financial transmission rights (FTR) auctions to avoid spread risk from line disruptions and reduce spot transaction costs.
• Intraday Swap (イントラデイ・スワップ) Intra-day power exchange service matching surplus and deficit power between clients at fixed prices. Exchanges a client's surplus (or deficit) hours with the company's offsetting hours at a predetermined price, enabling price fixing for excess/shortage power that would otherwise trade on JEPX.
• enetrade online Web-based online platform for retail electricity suppliers enabling 24/7 product discovery, transaction application submission, and electricity-market information monitoring. Free to access after pre-registration and screening.

Quantifiable outcome

• Over 60 retail electricity suppliers served
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• イーレックス株式会社 (eRex Co., Ltd.)coreStrategic or Co-development Partner · 9 February 2026Selected as sponsor following enetrade's civil rehabilitation filing. eRex is a Tokyo Stock Exchange Prime Market-listed company engaged in fuel business, renewable energy generation, trading, and power wholesale/retail. On March 31, 2026, enetrade transferred its power wholesale business to eRex. eRex provides credit support and reconstruction assistance.
• 株式会社KPMG FAScoreOthers · 9 October 2025Engaged as Financial Advisor (FA) to support enetrade's civil rehabilitation process. Responsible for sponsor recruitment, business continuity planning, and creditor claim maximization.
• シント＝トロイデンVV (Sint-Truiden VV)minorGTM or Marketing Partner · 25 October 2023Corporate sponsor agreement for 2023-2024 season with the Belgian first division football club. Enetrade supports Japanese players' global ambitions and acts as a bridge between Japan and Belgium. Part of international branding and community engagement strategy.
• elDesign株式会社 (elDesign Inc.)coreOthers · 30 March 2017Parent company of enetrade. elDesign is a consulting and regional activation company specializing in energy, infrastructure, and social services. Provides planning through operations support. Also the parent/employer of representative director Kenichi Sakagoshi.
• エフィシエント株式会社 (EFFICIENT Inc.)coreOthers · 30 March 2017Group company providing operational support for retail electricity business including demand-supply management, customer service, and VPP (Virtual Power Plant) construction support services.
• リニューアブルトレード株式会社 (Renewable Trade Inc.)minorOthers · 30 March 2017Group company focused on renewable energy trading. Part of the elDesign group ecosystem serving the energy sector.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Tokyo Gas Co., Ltd. Major Japanese energy utility with power retail, wholesale, and trading operations. Comparable to Enetrade in providing power procurement and risk-management solutions to retail electricity suppliers, though from a much larger integrated utility base.
• ENEOS Power Co., Ltd. Power trading and retail arm of ENEOS Corporation, one of Japan's largest energy companies. Comparable wholesale/balancing-group trading activities and fuel-adjustment risk management, though at much larger scale and as part of a major oil-and-energy conglomerate.
• Mitsubishi Corporation Power & Energy Solution Division: Japanese trading house with significant power generation, trading, and retail electricity investments. Comparable wholesale-power and cross-area trading capabilities, plus similar interest in retail-electricity-supplier enablement.
• eRex Co., Ltd. (イーレックス): Tokyo Stock Exchange Prime Market-listed fuel and power company engaged in renewable energy generation, fuel trading, and power wholesale/retail. Became Enetrade's civil rehabilitation sponsor and acquirer of its wholesale business. Directly comparable as a Japanese power wholesaler/aggregator.
• JERA Co., Inc. Japan's largest fuel procurement and power generation/trading company, jointly owned by TEPCO and Chubu Electric. Operates in power wholesale, fuel adjustment, and cross-area trading at scale — directly comparable business model to Enetrade's OTC balancing-group operations, but at vastly larger scale.
• ITOCHU Corporation Energy Trading Division: Major Japanese general trading company (sogo shosha) with a substantial power and fuel trading business, including cross-border and cross-area electricity flows. Comparable in OTC power trading, fuel-adjustment hedging, and area-spread management activities.
• ION Openlink (Openlink Financial): Established ETRM/CTRM platform vendor owned by ION Group, serving power and energy traders globally. Comparable to Enetrade's trade-capture and risk-management capabilities, but as incumbent enterprise software rather than a Japan-specific OTC intermediary.

Direct peers

• Eka Software Solutions: Global ETRM/CTRM platform provider serving commodities traders including power. Comparable to Enetrade's OTC trading and risk-management product layer (Cap Trade, Swaps) at a software-platform level, though operating as a vendor rather than a principal.
• F-Power Inc. Japanese independent power retailer/wholesaler offering power procurement to retail electricity suppliers. Closely comparable to Enetrade as a mid-market power procurement intermediary operating on JEPX and balancing-group infrastructure.

Others

• Japan Electric Power Exchange (JEPX): Japan's central electricity exchange where spot and intraday power is traded. Not a direct competitor but the underlying marketplace that Enetrade accesses and around which its OTC and balancing-group products are structured. Important ecosystem participant.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCCrZ4gM17sGYmdmUiCspvBQ
• LinkedInlinkedin.com/company/enetrade-inc

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enetrade