EnergyWatch

Dramatic energy market collapse hits Danish traders

The Norwegian energy trader Einar Aas is likely facing personal bankruptcy after losing a huge gamble Northern European power prices. All players on the Nordic stock exchange share liability and will now have to step in to cover the triple-digit loss in the millions.

Photo: Atlas Copco

This could be a particularly expensive week for Danish and Nordic energy traders on the Nordic stock exchange NASDAQ. The Norwegian energy speculator Einar Aas has lost astronomical sums in stock market trading.

Aas, who throughout 13 years of acting as an energy trader has become one of Norway's wealthiest persons, announced earlier this week that he would likely go personally bankrupt due to a failed bet, losing his entire fortune in speculating on a range of Nordic and German forwarding prices. According to a series of Norwegian media, the total lost amount is around NOK 1.3 billion (EUR 130 million).

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