Oslo, Thursday, October 6, 2011
EGL Nordic is expanding its trading and origination business into the Baltic region. The company has opened a branch in Estonia and with this step, EGL Nordic will develop the Estonian and Lithuanian electricity markets.
The entry into the Baltic electricity markets offers additional opportunities for EGL as an independent pan-European trader and originator. "We have been monitoring the market reform work very closely and decided that now is the right time to enter into the Baltic region," says Håkon Røhne, Managing Director of EGL Nordic. EGL plans to be active in the wholesale markets and bilaterally with profes-sional players such as industry, distributors and producers.
The Baltic electricity markets are on a steady march towards market liberalisation and integration with the Nordic region. The Estonian electricity market is currently dominated by the single state-owned, vertically integrated company, Eesti Energia, but has already established a spot market via Nord Pool Spot and a bilateral term market. In Lithuania the wholesale market is more fragmented and the current spot market, Baltpool, will be integrated into Nord Pool Spot in 2012.
One of EGL's key competences is to optimise and resolve complicated energy demands and expo-sures. Therefore EGL Nordic offers structured, sophisticated products, as well as pan-European port-folio management solutions for industry, distributors and producers.
In addition to the Baltic region, EGL Nordic is active in all Nordic countries (Norway, Finland, Sweden, and Denmark). The wide range of activities includes standardised product trading of futures, forwards and options on Nordic, Baltic and German electricity, as well as renewables, coal and CO2. Trading is both exchange-based (Nasdaq OMX) and bilateral (OTC = over the counter).
Further information
EGL Nordic AS: Kjetil Holm, Head of Origination, T: +47 93 06 08 80, kjetil.holm@egl.eu, www.egl.eu
EGL Group: Media Relations, T: +41 44 749 40 10, media.ch@egl.eu, www.egl.eu
