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...while AEP exits Nordic energy trading

Ohio-based American Electric Power (AEP) last month completed its exit from theNordic energy trading market. The management team responsible for AEP’sactivities in the Nordic region will assume AEP’s Nordic trading book,office leases and related responsibilities.

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AEP effectively announced its intention to leave the Nordic market in October2002, when chief executive Linn Draper said the firm’s wholesale energyefforts would be focused on areas where it has assets. Since then, AEP has alsostarted to reduce its exposure to speculative energy trading and cut its tradingand wholesale marketing operation.

AEP recognised a $16.6 million loss in the fourth quarter of 2002 associatedwith its decision to exit the Nordic trading business, the company said in

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