According to the warning, the transaction in question had been executed without taking the insider information into consideration, and consequently no misuse of information had taken place. Hydro takes the warning seriously, and will do everything in its power to ensure that a similar situation does not occur again.
The transaction did not result in any wrongful gains for Hydro.
Hydro regrets the incident and underlines that the company fully supports Nord Pool regulations on this subject.
Early indications show that this was the result of inattentiveness rather than a weakness in existing procedures. Hydro is still using the opportunity to assess its internal power trading routines in order to further strengthen the quality of its procedures within this area.
Published: June 13, 2008