Markedskraft AS, a Norwegian power trading and analysis company, seeks to win customers through a cooperation deal with Noble Group Ltd. (NOBL), filling a gap left as competitors pull out of the Nordic region.
Markedskraft and Noble Clean Fuels Ltd. will cooperate in the Nordic energy market, linking the former’s portfolio management and analysis business to Noble’s bilateral trading, the companies said today in a joint e-mailed statement.
The move comes after Electricite de France SA, France’s biggest power producer, closed its trading office in Oslo last year while Alpiq Holding AG (ALPH), Switzerland’s biggest utility, said in November it will exit the region after more than a decade. Markedskraft will seek to fill the gap, it said.
“It’s clear that we can offer relevant solutions to all of Alpiq’s former customers,” Torkil Mogstad, managing director of Markedskraft, said today by e-mail from Arendal, Norway. “We mainly want to attract large industrial and commercial power users” that don’t require clearing services, he said.
The partnership will also help Markedskraft offer non- standard, structured products, such as “forwards with a duration of more than five years, flexible consumption contracts, options, and products which manage area or profile risk,” Mogstad said.
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