NENA Commodity Research

During 2006 NENA AS implemented its CO2 analysis product and confirmed its position as a leading provider of European power markets analyses.

NENA AS was acquired by IMAREX NOS ASA on 5 December 2006. IMAREX NOS ASA’s main reason for the acquisition was to utilise the synergies between NENA’s current analysis portfolio and IMAREX NOS ASA’s customer base, and to be able to offer a wider portfolio of research, trading and clearing products.

NENA is offering customers standardised and tailor made analysis of the European power and emissions market. The company has in the last 10 years developed a solid theoretical basis for fundamental market analyses of energy markets.

All models are developed in-house. NENA's analyses and price forecasts are well recognised and have been subject to continuous judgment by professional traders and analysts for almost 10 years. NENA has more than 75 man-years of experience analysing the European power and emissions markets. T

This experienced team of analysts gives the company an advantage when expanding from power and emissions to new commodities and the company expects a growing market for analytical services.

The majority of NENA’s revenues stem from the Nordic power market, the most mature of the markets NENA is analysing. Despite consolidation amongst traditional market participants revenues continue to grow. The number of new participants, such as fund managers and banks, are increasing and the outlook is still a growing market potential for analytical services.

The European power markets are expanding and the numbers of active players are growing. NENA increased its presence amongst new participants in the German financial power market. Still, the vast number of companies potentially being more actively involved in continental power markets represents a greater need for analytical services in the coming years.

During 2006 NENA increased its customer base by more than 30% and launched a new carbon market analysis. NENA’s carbon analysis is gaining market share, primarily amongst players in the power and heat sectors. The market potential amongst other sectors, as well as fund managers and pure financial players, is considerable.

Launching of an analysis product related to the freight and coal market in 2007 is expected to strengthen NENA’s position among IMAREX NOS ASA’s customers even further.

NENA supplies price forecasts and market analyses for the Nordic and European power markets via web and mail. Our office is always available to discuss the analyses or the markets in general.

Our team has diverisified experience from various filelds within the power industry and we deliver spesific services and projects at operational level as well as to support strategy decision making.

Please contact:

Hans Gunnar Nåvik, Senior Analyst
Master of Science in Engineering from NTNU. Former Director of Risk Management and Trading at Drammen Kraft AS. Established NENA February 97.
Tel: +47 22 31 41 02

Christian Sjødin, Managing Director
Bachelor in Business Administration from Trondheim Business School. Former CFO and Deputy MD at Norkabel AS. Employed since June 97.
Tel: +47 22 31 41 03

Bengt Longva, Senior Analyst
Economist from University of Bergen. Former Portfolio Manager at Drammen Kraft AS. Earlier experience from research at SNF, a research body at the Norwegian Business School in Bergen. Employed since January 98.
Tel: +47 22 31 41 04

Sigurd Lie, Senior Analyst
MBA from University of Denver Colorado. Former Financial Manager at Jernbaneverket (Norwegian National Railway Administration), and experience within international finance and accounting. Employed since June 98.
Tel: +47 22 31 41 05

Sigbjørn Seland, Senior Analyst
Master of Science, Finance from NHH Bergen/University of Mannheim Germany. Former Trader at Drammen Kraft AS. Employed since June 98.
Tel: +47 22 31 41 06

Pål Svendsen, Senior Analyst
Master of Science in Engineering from NTNU. Earlier experience including hydrological and meteorological analyses and power systems modelling at Statkraft and Vattenfall. Employed since January 2000.
Tel: +47 22 31 41 07

Bjarne Gilhuus-Moe, Senior Sales Manager
Bachelor in Business Administration from Hofstra University in New York. Former Key Account Manager at Fortum Oy. Earlier experience from Energipartner AS. Employed since March 2007.
Tel: + 47 22 31 41 11

Tobias Söderberg, Analyst
Master in Engineering from Royal Institute of Technology in Stockholm, and Master in Economics from Stockholm University and the University of Glasgow. Former Power Trader at Telge Kraft AB. Employed since March 2007.
Tel: + 47 22 31 41 12

Stefan Meisser, Director of NENA AG, Zürich
Master degree in International Relations as well as Banking and Finance from the Universities of Geneva and Lausanne. Former energy portfolio manager with EIC Partners. Earlier experience as head of research EGL. Employed since April 2007.
Tel: +41 (0) 43 244 54 39, mobile: +41 (0) 79 788 54 39