(Trondheim, 2005-01-13) Powel has signed a contract with ENERGI E2 to supply systems and services that will support the process of planning electricity production and implementing physical power trading. Powel’s solution will reduce the administrative load involved in these tasks and improve the quality of the planning process, thereby increasing earnings on electricity generation. The system will be employed by ENERGI E2’s operations centre on a day-round basis for the continuous planning of electricity and heat production. The total value of the contract comes to some NOK 7 million, with the possibility of optional extensions in the course of a three-year period.

General Manager Torben Franch of ENERGI E2 says:
“We had the following reasons for selecting Powel as our supplier:

• Powel has the market’s leading product for planning and power trading
• The company has long experience, gained in the course of supplying a large number of planning and trading systems to leading utility companies world wide.

ENERGI E2’s expectation is that, with the help of Powel, we will develop our activities and IT support, so that we will be the leading company in northern Europe in our field of activity well into the future”.

Powel will install its systems in January 2005, and the delivery will be finalised by the summer.

About Powel
Powel ASA, with headquarter in Trondheim, Norway, supplies software and services aimed at helping energy companies and the public sector to become more efficient. The company is already market leader in Scandinavia, and has set up offices in Sweden, the USA and Canada. Since it was founded in 1996, the company has grown from an initial 37 employees to 200. Market prospects for Powel are extremely good in both the energy industry and the public sector.

About ENERGI E2
ENERGI E2 is a leading Danish energy production and trading company with its headquarters in Copenhagen. In 2003, the company had a turnover of around DKR 6.8 billion. The company owns and operates seven large and ten small electricity and combined heat and power utilities (thermal electricity generation), including some of the most energy-efficient thermal power stations in the world. Its total annual production in 2003 came to about 22 TWh. The company is also a shareholder in a number of hydropower stations in Sweden and Norway.

Contact info:
President/CEO  Jon Einar Værnes (J)+47 73804500 (M)+47 48164555
CFO Øystein Sæther (J)+47 73804500 (M)+47 48164558
Business Manager Frode Solem (J)+47 73804500 (M)+47 48164541