Nord Pool Chooses OM as Clearing Technology Partner
Nord Pool's wholly owned subsidiary, Nordic Electricity Clearing House ASA (NECH; Oslo, Norway), reached an extensive cooperation agreement with OM (Stockholm, Sweden) for the provision and facility management of OM's SECUR clearing system. The agreement is set to run for seven years and means that OM will become the new systems provider for Nord Pool's clearing operations effective Jan. 1, 2004. Until then, Nord Pool will continue to work with Power Clearing Systems AS (PCS).
This clearing agreement enables NECH to consolidate its position as an energy exchange in the Nordic region as it enhances its position for further joint ventures in Europe.
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