no 17/09 Adjustment of margins for Nordic financial electricity and carbon contracts

Lysaker, 16 February 2009

Nord Pool Clearing hereby notifies the clearing members that the risk intervals, affecting the daily margin call, will be adjusted due to changes in volatility. The adjustments are in accordance with the clearing rules for Nord Pool Clearing. 

The risk intervals for Nordic financial electricity contracts will have an upward adjustment for the contracts closest to delivery, and a downward adjustment for contracts further out on the forward curve.

The risk intervals will be increased for all carbon contracts; EUAs and CERs. 

The new risk intervals will have impact on the calculation of daily margin calls, for which collateral must be posted by 11.00 CET on Wednesday 18 February 2009.

For further information, please contact Nord Pool Clearing: 

Trond Svensgaard, head of risk management, 
phone +47 6710 8412/+47 9012 3679

Kristian Kloster, risk management, 
phone +47 6710 8415/+47 9593 1881

Kjetil Bundli, risk management, 
phone +47 6710 8441/+47 9900 3690