Yes, as I also understands it he was a direct member of the exchange. When this happened he owned 23 Twh of nordic and 11 TWh of german power derivatives contracts. That is 1/4 of Norway's consume in 1 year:
https://www.hegnar.no/Nyheter/Energi/2018/09/Derfor-tapte-Ei...He basically did become to big for the marked.