FOR IMMEDIATE RELEASE
Contact:
Amy Hansen
Director of Client Service and Public Relations
Seroka Public Relations
262-523-3740
amy@seroka.com
Nordic Energy Services Finalizes Structured Supply Arrangement with EDF Trading
Willowbrook, Ill., July 1, 2010 – 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.
# # #
New Nordic Energy sales executive shares view from new digs
May 10, 2010
Nordic Energy hired a new account executive last month --and while that in and of itself is hardly newsworthy, the new hire shared with us some useful insights on the benefits of working for a small marketer and the opportunities that exist in Illinois.
"What I have seen is a smaller company can be very approachable," Andi Cashmore told us, and "they don't seem to mind having an open door policy and hearing ideas from wherever they may come."
She previously worked for a much larger firm and handled only natural gas and now she deals with gas and power in Illinois.
"I recently went to the state capital and lobbied for a bill. I've never done anything like that before," she told us of her first month and how she sees the retail energy world a bit differently now. "I've done more in my first month that I never thought I would do," she said, referring to "sitting during session and talking with representatives. You can't trade those opportunities for anything."
New experiences aside, Cashmore is looking at some work ahead. "ComEd is going to release another segment of their customers, their 100-400 kw customers," said Cashmore of the ever changing Illinois market.
"They are releasing them from their supply pool and they are going to kick them back to same-day hourly rates if they don't have a supplier, which could be a pretty nerve racking thing." It more involved than simply printing a contract and signing on the dotted line, she added.
"We're trying to educate that group of customers who aren't typically your huge users but they are spending a large portion of their budget on power each month so it's really on a learning curve right now for many of them now that they are going to be released from ComEd," said Cashmore.
Part of Nordic's strategy will be to speak in layman's terms and not in industry-speak, she added. It needs to be kept simple for firms that do not have an energy manager or an outside consultant.
"What it comes down to is that right now cost containment is probably one of the biggest drivers and being able to fit energy into ever-tightening budgets is also important. So we can help mitigate the risk by offering products that perhaps they don't need to go out to the market, which can be a scary proposition for some," said Cashmore. "If they get on the same-day hourly who know what can happen. There are a lot of companies out there struggling to do the best they can."
Cashmore was introduced to Nordic by Scott Brownholtz of executive search firm Brownholtz & Associates.
Nordic Energy joined in on the holiday festivites with Food Industry News, a Chicago-based trade publication that focuses on local, regional and national industry news and which also serves as a link between buyers and suppliers. Click here to see the photo gallery, including our own Bridget Murphy.
