Nordic Energy Services Finalizes Structured Supply Arrangement with EDF Trading

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Jul 01, 2010, 03:25 ET

WILLOWBROOK, Ill., July 1 /PRNewswire/ -- Nordic Energy Services, LLC, an independently owned Alternative Retail Electric Supplier (ARES), as certified by the Illinois Commerce Commission, announces it has finalized a dual-commodity structured supply arrangement with EDF Trading North America, LLC, the North American subsidiary of EDF Trading Limited.

Nordic Energy offers an alternative to the local utility for natural gas and electric supply and management services to several thousand facilities in Illinois and Indiana.

Under the three-year agreement, EDF Trading will provide natural gas and power services as well as a variety of scheduling and asset management services. This will help maximize the value of Nordic Energy's natural gas storage and transportation assets and enable Nordic Energy to meet the energy demands of its customers. The supply arrangements include a number of features designed to provide Nordic Energy with flexible, cost-effective supply alternatives which will enhance Nordic Energy's ability to provide attractive products and services to its customers.

James C. Deering, J.D., President of Nordic Energy Services, said, "EDF Trading's commitment to provide natural gas and power supplies for Nordic Energy's retail businesses is consistent with Nordic Energy's anticipated volume growth over the next three years. The agreement allows Nordic Energy to execute its business plan, which includes continued expansion within the Commonwealth Edison and Ameren territories, as well as potential entry into the New York and Pennsylvania markets."

The agreement with EDF Trading will also assist Nordic Energy with its efforts to create natural gas storage pools at local distribution companies, which will enable Nordic Energy to benefit from seasonal and daily spread arbitrage opportunities.

"The flexibility and dual-commodity nature of this agreement are unique," Deering continued. "EDF Trading has a thorough understanding of this business space and also has experience executing these types of agreements in other markets, which have resulted in significant growth for their partnering organizations."

About Nordic Energy Services, LLC

Nordic Energy Services, LLC (www.nordicenergy-us.com), is an independently owned, Chicago-based, alternative energy supplier. Nordic was formed in 2002 as an Illinois limited liability company. Nordic supplies natural gas, electricity, and related services to commercial and industrial customers in deregulated markets. Nordic also provides customized risk management and hedging solutions, energy scheduling, bill audit services and other energy related consulting services.

SOURCE Nordic Energy Services, LLC