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Russia's Inter RAO says Nord Pool will halt trade for its subsidiaries

Reuters
·1 min read
FILE PHOTO: The logo of Russian energy company Inter RAO UES is seen on a board at the SPIEF 2017 in St. Petersburg

(Reuters) - Russian utility Inter RAO said on Friday that pan-European exchange Nord Pool has sent a notification that it will stop trade operations for its subsidiaries from Sunday due to risks of failure to pay for power supplies from Russia.

Inter RAO, Russia's sole exporter of power, has stopped exporting power to Finland from last week "for the time being" as it had not been paid for power sold via Nord Pool since May 6.

Inter RAO has not elaborated on the reasons for the absence of payments.

(Reporting by Reuters, Editing by Louise Heavens)