Power, Gas, and LNG Trading: Racing to Compete in the Coming Decade

BCG projects that by 2035, leading power, gas, and LNG trading firms will operate on unified real-time data platforms with cross-functional teams of traders, quants, and engineers, replacing legacy ETRM systems and siloed desk structures. Renewable energy growth of 8–12% annually is concentrating trading value in intraday and short-term markets, where human-led trading is no longer viable and algorithmic, systematic execution is now table stakes. Proprietary trading and risk-taking already accounts for up to 40% of total power and gas trading value and is expected to grow, while short-term asset-backed trading is projected to rise from roughly 10% to 15% or more of total value by 2035. Tech-native firms such as Citadel, Vitol, InCommodities, and Danske Commodities are already deploying probabilistic analytics, systematic signal generation at scale, and agentic AI, forcing incumbents into large-scale technology transformation programs. The right transformation path—whether building an integrated data-centric platform from scratch or modernizing a legacy stack—depends on a firm's strategic ambition, starting position, and willingness to redesign processes, not just technology.