No.12/2007 Fortum, new market maker at Elbas in Finland

(Lysaker, 9 May 2007) Nord Pool Spot AS has signed an Elbas market maker agreement for trading area Finland with Fortum Power and Heat Oy. The market maker agreement will enter into force 1 September 2007.

Nord Pool Spot is very pleased to announce that Fortum Power and Heat Oy has signed the Elbas market maker agreement. Market makers have an important role in the market by securing both transparency and liquidity.

"By signing the Elbas market maker agreement, Fortum promotes market driven development and further strengthening of the electricity market. This is viewed as positive for all market participants and improved transparency and liquidity will especially benefit small and medium size players in the Elbas market. The Elbas market has proven to be an advanced example for the whole North European market integration,” says Karri Mäkelä, director at Nord Pool Finland Oy.

Nord Pool Spot AS’ Elbas market has been in operation since 1999 and provides continuous power trading 24 hours a day, 7 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 covers Finland, Sweden, Denmark and Germany.

Nord Pool Spot AS acts as counterparty in all contracts traded on the Elbas market and all trades are physically settled with the respective TSOs (transmission system operators).

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For further information, please contact:

Karri Mäkelä, director Nord Pool Finland Oy, phone +358 9 6840 4810/+358 40 732 0860

Kalle Ahlstedt, vice president, physical portfolio management, 
Fortum Portfolio Management and Trading, phone +358 10 453 3507/+358 50 453 3507