Nord Pool Spot hereby gives notice that the collateral requirement for power contracts is reduced as of Wednesday 8 June 2011.
The adjusted collateral requirement will be calculated based on seven days net purchase, and is thus reduced by three days net purchase. The adjusted collateral requirement must be posted by 11:00 CET on Wednesday 8 June 2011.
The adjustment of collateral requirements is in accordance with the standard terms for trading and clearing in Nord Pool Spot markets.
The previous adjustment in collateral requirement based on 10 days net purchase was precautionary in case the conflict involving the Finance Sector Union of Norway escalated from 7 June 2011.
About Nord Pool Spot
Nord Pool Spot runs the leading power market in Europe and offers both day-ahead and intraday markets to its customers. 350 companies from 18 countries trade on the market. The Nord Pool Spot group has offices in Oslo, Stockholm, Helsinki, Copenhagen, Tallinn and London. In 2010 the group had a total turnover of 310 TWh, which includes the auction volume in the UK market N2EX.
Lysaker, 7 June 2011 09:06 CET
For further information, please contact Nord Pool Spot:
Stina Johansen, Communications Manager Nordic, +47 916 50 603
Morten Landrø, Risk Manager, +47 92 22 33 55