Statnett co-ordinates supply and demand, and owns large sections of the main Norwegian power grid.

Nord Pool ASA sale of EEX shares

Europe's leading power derivative exchange, Nord Pool ASA, has entered into an agreement with Eurex to sell the 17.39 percent stake Nord Pool holds in the Leipzig based European Energy Exchange AG (EEX) for a consideration of EUR46 million or EUR6.60 per share.

Press release from Nord Pool ( Lysaker, 27 February 2008):

 

Under the pre-emption rights laid out in the Consortium agreement of EEX, Nord Pool is obligated to offer the shares on a pro rata basis also to other EEX shareholders. The transaction is expected to be closed in the second quarter 2008.

 

"We see this as natural for Nord Pool ASA in order to refine our ownership interests and focus areas. In light of Nord Pool joining the OMX platform, this will provide the new organisation with great international expansion opportunities through new distribution channels, technology and customer bases," says CEO of Nord Pool ASA, Torger Lien.

 

The sale of the EEX shares will not affect the ongoing process between OMX AB and Nord Pool ASA as the shares of EEX AG and Nord Pool Spot AS are not a part of the signed agreement between OMX and Svenska Kraftnät/Statnett.

 

Nord Pool ASA is today the largest power derivatives exchange in terms of volumes and products, providing trade and clearing of Nordic, German and Dutch power derivatives. Nord Pool is also the only exchange in Europe to provide trade in standardised emissions allowances (EUAs) and carbon credits (CERs).

 

For further information, please contact Nord Pool ASA:

 

Torger Lien, president and CEO, phone +47 6752 8070/+47 9188 8112

 

Lars Galtung, vice president communications, phone +47 6752 8080/+47 9821 4812

 

About Nord Pool ASA
The company has more than 400 members from 20 countries across a wide range of energy producers and consumers, as well as financial institutions. Nord Pool ASA embraces the wholly-owned Nord Pool Clearing ASA and Nord Pool Consulting AS subsidiaries. It is jointly owned by the transmission system operators (TSOs) Svenska Kraftnät and Statnett. The company has offices in Lysaker (Oslo), Stockholm, Helsinki and Amsterdam. For more information, please visit www.nordpool.com.