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01/2002
Clearing becomes independent company Nord Pool's clearing services were transferred on 6 March 2002 to a newly established subsidiary, Nord Pool Electricity Clearing House ASA (NECH), to meet Nord Pool's exchange licensing requirements. Geir Reigstad is the Managing Director of NECH, which is a licensed clearinghouse.
Pan-Nordic spot market ownership All five Nordic transmission system operators became co-owners of Nord Pool Spot AS effective 1 July 2002. Svenska Kraftnät, Statnett, and Nord Pool now own 20% each of Nord Pool Spot; the two Danish TSOs, Eltra and Elkraft System, own 10% each. When Nord Pool Spot was established as a separate company 1 March 2002, Svenska Kraftnät, Statnett, and Nord Pool each owned one-third of the company's shares. At a board meeting held 8 November, Jørn Lehman was appointed to succeed Bjørn Hagman as Managing Director of Nord Pool Spot. Mr. Hagman is starting his own consulting business.
308 Nord Pool participants As of 1 August 2002, Nord Pool had a total of 308 participants: Norway (160), Sweden (74), Finland (30), Denmark (18), UK (14), Germany (3), Netherlands (3), USA (2), Switzerland (1), France (1), Belgium (1), and Italy (1). See Nord Pool's website (www.nordpool.com) for additional information regarding participants.