Essent Trading has expanded its international trade activities in the Nordic region, with the opening of a new representative office in Norway.

The Nordic market is a liquid market with a diverse fuel mix and an increasing number of connections to continental Europe. Entry into the Nordic market is a logical step for Essent Trading, which over the last three years has concluded several transactions in the Nordic power and gas markets.

Of particular interest is the connection between the hydro and thermal markets via cables - such as NorNed - and the increasing transparency of the gas markets. Essent Trading will play an active role in trading and originating products related to tolling agreements on power, sourcing and transport, as well as storage of gas and renewable energy, such as biofuels. These products will enhance competition and choice for Essent’s clients and customers in the Nordic region. Essent Trading will also look for new opportunities to partner with strong local players to allow for further growth and market penetration.

"The Nordic market is highly interesting in the continued expansion of our merchant strategy and a focused entry into this region supports the growth of Essent Trading," Carl Hagert, Senior Vice President Structured Origination commented. "Our ambition is to provide a strong platform for a broad range of products and partnerships leveraging our pan-European portfolio. We are particularly keen to develop partnerships and strategic opportunities on both sides of the NorNed cable. We think there are some very strong win-win positions for Essent and Nordic hydropower producers on the back of the NorNed cable," Hagert added. The NorNed cable links the Norwegian hydropower market with Essent’s core market in the Netherlands.

Joachim Berner will head up Essent Energy Trading Nordic AS, based in Oslo, Norway. Berner, previously with Norsk Hydro and StatoilHydro, joined Essent Trading as Vice President Structured Origination Nordic earlier this year.

About Essent Trading

Essent Trading, headquartered in Geneva, Switzerland, is a prestigious assetbacked
merchant energy trading business with its roots in the Netherlands. Essent Trading is recognised as a market leader in energy trading in Europe and has been voted as a top-tier trading house by Risk Magazine since 2004. Our parent company, Essent N.V. is the largest energy company in the Netherlands with approximately 11,000 employees, more than 5500 MW of diverse generation portfolio and over 2.6 million customers across the Netherlands, Belgium and Germany. Essent is ranked among Europe's leading companies in renewable and sustainable energy generation.

For more information, visit www.essenttrading.com and www.essent.eu

For further information, please contact:
Essent Media Relations: Jeroen Brouwers, spokesman Essent.
Phone: +31 73 853 4939 E-mail: mediarelaties@essent.nl