Nord Pool plans to start electricity futures index

Nord Pool ASA, Europe's biggest power exchange, plans to start the region's first index based on electricity futures, allowing investors to bet on the direction of prices. A ``raw version'' of the index is ready and is yet to be tested, company spokesman Lars Galtung said by phone from Oslo today. He declined to say when the index will be published. Nordic Commodity Funds AB, an electricity hedge fund manager, is ready to start two funds tracking the index.