Bergen Energi enabling end user access to the UK’s new power exchange N2EX

UK energy buyers can now get unrivalled access to the European energy markets thanks to Bergen Energi. Bergen Energi’s UK operation, has been working closely with the UK’s recently-launched N2EX power exchange to provide new alternatives to more traditional supply solutions for UK end users, enabling a more direct route to market with increased transparency and balancing options. N2EX is the UK-only energy exchange for physical power networks set up by NASDAQ OMX Commodities (NOMXC) and Nord Pool Spot AS. N2EX includes technical trading and clearing, a regulatory framework, clearing procedures and Elexon approvals of clearing house requirements. IN a recent Ofgem report, N2EX was praised for its ability to aid market liquidity and bring stability and transparency to the market. And Bergen Energi says its previous knowledge of dealing with Nord Pool and other European power exchanges across Europe will enable its customers to get access to a more efficient trading environment. Richard Southgate from Bergen Energi says the addition will bring its UK customers closer to the European and Worldwide energy markets. He said: “N2EX is an outstanding exchange network, allowing trading to take place in a way that has not been seen in the UK before. It is being broadly welcomed as one of the most significant and welcome developments in the UK energy market for some time – particularly for those who want to see greater transparency in the marketplace. “Bergen is a step ahead of the game – our pan-European network, with an operating presence in most major European countries, means we have an outstanding expert knowledge of direct access to European power exchanges. Direct exchange access a concept that has already been available in other European countries for a number of years allows some end users to effectively become their own supplier. “It is an innovative solution that will see more consistent investment and Bergen Energi is looking forward to working with our customers to make the most of the system.” N2EX was introduced to the UK in January 2010 – the concept of giving customers direct access to the markets in this way has been done for may years on the continent but never before in Britain.

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