London, 15 November, 2012.
NASDAQ OMX Commodities and Nord Pool Spot, joint operators of the N2EX power market, are pleased to welcome Hudson Energy Supply UK Ltd as the latest member to join the N2EX market.
One of the newest suppliers to enter the GB electricity market, Hudson Energy selected N2EX as the most efficient and effective route for purchasing the company’s short term wholesale power requirements.
Welcoming Hudson Energy to N2EX, Mikael Lundin, Nord Pool Spot’s CEO, said: “Hudson’s arrival marks a unique milestone for N2EX. One of our key objectives is to reduce barriers to entry and encourage new participants to enter the expanding GB wholesale market.
“In addition, we have worked hard since our launch in 2010 to build liquidity and provide products and clip sizes that allow smaller market participants to purchase the power they need to match their demand. Hudson’s arrival (and that of five previous new market entrants enabled through N2EX to trade UK electricity) proves that we are achieving these important objectives.”
Geir Reigstad, Head of NASDAQ OMX Commodities, said: “We greatly appreciate the choice made by Hudson Energy to join our UK offering as the N2EX continues to go from strength-to-strength. We are very pleased to see that in less than three years the N2EX has become the reference market in the UK and that its auction volumes exceed 2TWh per week, with the N2EX auction now accounting for approximately a third of GB day-ahead consumption.”
Hudson Energy offers an agile and flexible approach to the B2B Commercial market, operating via an experienced management team and a network of brokers across the UK. Cutting edge technology provides brokers with instant access to customer specific pricing information that enables them to compare opportunities on their customers’ behalf.
“We recognise that businesses don’t have the time, resources or market exposure to search out the best energy deal in an already complex market”, said Deborah Merril, President of Hudson Energy. “By offering simple and accessible fixed price and term contracts, as well as more flexible contracts, our aim is to eliminate confusion and help businesses plan for the future in a way that fits their unique business needs. Our presence on N2EX will support and enhance our offering.”
About Hudson Energy
Established in 2002, Hudson Energy specializes in providing customized index and fixed price energy products tailored to the needs of individual businesses. Serving over 150,000 facilities, Hudson Energy is an experienced and growing business-to-business supplier of electric power and natural gas commodity for markets in North America and the United Kingdom. Large and small business owners look to Hudson Energy for stability and predictability to help them control their energy costs and budget one of their most significant business expenses more effectively. Hudson Energy is a subsidiary of Just Energy Group Inc., a publicly traded company (NYSE:JE and TSX:JE) serving close to 2 million customers across North America. Visit www.hudsonenergy.net to learn more.
About N2EX
N2EX is the UK power market offering from NASDAQ OMX Commodities and Nord Pool Spot. NASDAQ OMX Clearing is the authorised clearinghouse.
The web site www.n2ex.com provides market information and documentation for the UK power market.
About NASDAQ OMX Commodities
NASDAQ OMX Commodities is the brand name for the NASDAQ OMX Group’s worldwide suite of commodity related products and services. The NASDAQ OMX Commodities offerings include power, natural gas and carbon emission markets and clearing services. NASDAQ OMX Commodities is a trademark of the NASDAQ OMX Group, Inc.
NASDAQ OMX Commodities Europe is the trade name of NASDAQ OMX Oslo ASA which is authorized as a commodity derivatives exchange by the Norwegian Ministry of Finance and supervised by the Norwegian Financial Supervisory Authority. All trades with NASDAQ OMX Commodities Europe are subject to clearing with NASDAQ OMX Clearing.
NASDAQ OMX Clearing is the trade name of NASDAQ OMX Stockholm AB which is authorized and supervised as a multi-asset clearinghouse by the Swedish Financial Supervisory Authority in Sweden as well as authorized to conduct clearing operation in Norway by the Norwegian Ministry of Finance.
NASDAQ OMX Commodities has nearly 350 members from over 15 countries covering a wide range of energy producers, consumers and financial institutions.
For more information, please visit www.nasdaqomx.com/commodities
About Nord Pool Spot
Nord Pool Spot operates Europe’s leading power markets, offering both day-ahead and intraday trading to its members. 370 companies from 20 countries trade on Nord Pool Spot’s markets in the Nordic and Baltic regions, and on our UK market N2EX. In 2011 the group had a total turnover of 316 TWh traded power. Our markets are operated from offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. Nord Pool Spot strives continually to strengthen its business by working with integrity, together with members and stakeholders, to achieve excellence. For more information, visit www.nordpoolspot.com
Media Contacts:
Stuart Disbrey, UK Communication Manager, Nord Pool Spot, Tel: +44 207 065 7042/+44 7887 409 044, stuart.disbrey@nps.no
Sara Aadnesen, Director Corporate Communication, NASDAQ OMX Commodities and N2EX, Tel: +47 6752 8080/+47 9060 0759, sara.aadnesen@nasdaqomx.com
Just Energy
Al Shulman, Vice President Marketing. Tel: 905.670.4440 74469, ashulman@justenergy.com
Hudson Energy UK
Steve Fitzsimons, Director of Sales & Marketing. Tel: 01908 880 445. Mob: 07943 746622, Sfitzsimons@hudsonenergy.co.uk