no 03/09 Nord Pool Spot introduces Elbas intraday market in Norway 4 March 2009

(Lysaker, 20 January 2009) Nord Pool Spot expands its intraday trading system Elbas to cover Norway on the 4 March 2009. 

Norway joins the Elbas market on 4 March 2009. The Elbas markets expansion to Norway enables cross-border intraday trading between Norway and the other Nordic countries and Germany via the physical cables to Denmark and Sweden. 

“By introducing Elbas in Norway we have come a long way in establishing an integrated Nordic and European intraday market. Elbas has proven itself to be an effective balancing mechanism and we believe that the Elbas system will serve as an important balancing tool for both power producers, distributors and industries in Norway,” says Erik Sæther, CEO Nord Pool Spot AS.

About Nord Pool Spot AS and Elbas
Nord Pool Spot (NPS) has been operating the spot market for power since 1991. NPS operates today the Nordic day-ahead market Elspot, the intraday market Elbas and a Danish market for gas. The Elbas market has been in operation since 1999 and provides continuous power trading 24 hours a day, seven days a week covering individual hours, up to one hour prior to delivery. The traded products are one-hour long power contracts. 

The participants are power producers, distributors, industries and brokers. Today the Elbas market is open in Finland, Sweden, Eastern Denmark, Western Denmark, and Germany.

Nord Pool Spot AS acts as counterpart in all contracts traded on the Elbas market and all trades are physically settled with the respective transmissions system operators (TSOs).
For further information, please contact Nord Pool: 

Lars Galtung, corporate communications, Nord Pool/NASDAQ OMX Commodities,
phone +47 6752 8080/+47 9821 4812

Erik Sæther, CEO, Nord Pool Spot, phone +47 4748 9138