Mikael Gynther

Mikael Gynther

+45 29 92 02 96


Mikael Gynther is a senior energy sector specialist and Director of ESP Consulting Nordic with more than 15 years’ experience in the power, gas and CO2 markets. Before joining ESP-consulting he has been Director in DONG Energy, a Director in Copenhagen Energy (the largest utility company in Denmark) and the Chief Economist in Alfred Berg (a leading Nordic Investment Bank).

Mikael brings hands-on experience in the setup and development of energy trading businesses as well as the daily commercial management and P/L responsibility of traded portfolios in utilities and generation companies. For example, while with DONG Energy he was responsible for the establishing and managing structured and asset backed power trading activities. Likewise, he built and managed the trading and B2B sales organization while with Copenhagen Energy. Mikael’s experience includes leading complex international commercial contract negotiations and managing the operational trading aspects of mergers and acquisitions of a range of production and sales assets, including system and organisational integration. He brings international management experience, having lead teams comprising of multiple nationalities operating across 3 different countries.

Sector expertise

Trading & Risk Management

As a director in DONG Energy and Copenhagen Energy, Mikael was responsible for developing different areas of these companies’ power and CO2 trading businesses. This included:

  • Insourcing of power trading activities through establishment and management of a new trading function;
  • Setup of governance structure including implementation of necessary organizational structure;
  • Design and implementation of risk policy;
  • Implementation of systems and processes for trading, access to wholesale markets and exchanges and operational handling of demand forecasting activities;
  • Implementation of systems and processes for pricing to sales channels (B2B, SME and B2C segments);
  • Development of structured trading activities on power and CO2;
  • Development of external portfolio management services for power and CO2; and
  • Development of asset backed trading activities including trading and exposure management of multi commodity portfolios in NWE.

Business model and Strategy

Whilst in DONG Energy, Mikael was responsible for the trading business model following acquisitions of sales and trading companies in Germany and Holland. This included setting up the inter-company business model and establishing trading agreements between trading, sales and renewables.

While with Copenhagen Energy, he was responsible for setting up the business model for this company's energy trading and B2B sales activities, including the divestment of ownership shares in a trading company owned by the major utility companies in Denmark.

Trading Operations and Organisation

Mikael has managed trading teams operating across Denmark, Netherlands and Germany with responsibility areas such as:

  • Analysis and Pricing;
  • Structured Trading (structuring, hedging and prop trading);
  • Portfolio Management Services;
  • Power Demand Forecasting;
  • Portfolio Optimization;
  • Structured Origination; and
  • Middle and Back Office.