Nord Pool names new head of financial markets, launches new contract

Oslo-based electricity exchange Nord Pool has made two new appointments and is about to launch a new contract for hedging the power price difference between the German and Nordic power markets.

Erik Villum, who has been head of financial markets at Nord Pool since August 2002, left the exchange in late May to become a director of UMOE, an Oslo-based investment firm. UMOE has, among other things, built up a ship-owning company in Norway serving the oil and natural gas sector.

Marianne Wergeland Jenssen is due to replace Villum around September 1, and Hans Randen will act as head of financial markets until then. Jenssen currently runs her own consultancy and worked at Sempra Energy