EnergyWatch

Utilities praise bankruptcy-threatened energy trader

Utilities are praising the deal between near-bankrupt energy trader Einar Aas and Nasdaq after the former lost millions of euros in speculation last week, compelling those same utilities to inject extra capital into a Nasdaq security fund.

Several Norwegian utilities have been compelled to inject extra capital into the security fund Nasdaq Clearing after energy trader Einar Aas lost millions of euros in speculation last week. However, they now believe that they will recover some of their losses.

Speaking to Norwegian media E24, the utilities are praising Aas, once one of Norway's richest personalities, for the deal he has entered with stock exchange Nasdaq to realize his activities to cover the creditor's loss.

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