Vattenfall licensed to provide financial energy services to customers in Germany

Vattenfall licensed to provide financial energy services to customers in Germany The German company Nordic Powermanagement GmbH, a wholly-owned subsidiary of Nordic Powerhouse, which is part of the Vattenfall Group, has been awarded a license to sell financial services in the energy sector. The company is now one of the few in Germany that has a full license in this field, which means that it can sell financial services and act as a broker on behalf of customers. Nordic Powermanagement was recently awarded a license by the German finance authority BAFin (Bundesanstalt f|r Finanzdienstleistungsaufsicht) to sell financial services in the energy sector. These services include brokering derivatives, portfolio management and trading in the company's name on behalf of customers. A soon as the license has been registered in the Trade Register, the company can begin selling such services to external customers. Nordic Powermanagement, a subsidiary of Nordic Powerhouse (which is planning to change its name to Vattenfall Europe Trading in the near future), is one of the few companies in Germany that has a full license to provide these services, which in Germany are regarded as banking operations. Vattenfall AB Supply & Trading already holds such rights on the Scandinavian market for its wholly-owned subsidiary Vattenfall Power Management AB. From Vattenfall's Press Office, telephone: +46 8 739 50 10. For more information, please contact: Christian Wulle, Nordic Powermanagement, tel: +49 40 244 30-321. e-post: cwulle@nphouse.com ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/07/16/20020716BIT00310/wkr0001.doc http://www.waymaker.net/bitonline/2002/07/16/20020716BIT00310/wkr0002.pdf

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