TenneT sells 25.5% shareholding in APX to GasunieAmsterdam | press release
TenneT B.V., the Dutch Transmission System Operator, and N.V. Nederlandse Gasunie today signed a number of contracts whereby Gasunie will acquire a 25.5% interest in the share capital of APX B.V. as per January 1st,2006.
APX B.V. represents a company value of approx. EUR 50 million. For the time being, TenneT will retain its remaining shares in APX. With its headquarters established in Amsterdam, the APX Group is a group of power and gas exchanges operating markets in the Benelux countries and the United Kingdom.
The transaction concluded today will allow TenneT and Gasunie to cooperate more actively and directly in the coming years in order to further strengthen the services that APX supplies to the Dutch and European energy markets.
Over the past few years, APX has expanded its activities in anticipation of the establishment of a liberalised energy market in North-West Europe. With that objective in mind, APX has acquired a number of foreign energy exchanges and, in addition to electricity exchanges, has also become involved in gas exchange activities.
The current transaction fits in with the strategic objectives of both TenneT and Gasunie and is in line with their other core activities, which are mainly aimed at promoting an efficient, transparent and liquid energy market in North-West Europe.
TenneT press information office:
Koen van Tankeren, tel. +31 26 373 2600,
mobile phone +31 6 109 23 835
Gasunie press information office:
Chris Glerum, tel. +31 50 521 2789
APX press information office:
Nanke Kramer, tel. +31 20 305 4000,
mobile phone +31 6 5249 2676
APX Group, headquartered in Amsterdam, is provider of international power and gas exchanges for the wholesale market for short trading in the Netherlands, United Kingdom and Belgium.
Core activity in the Netherlands is the spot market for electricity via an auction system on an anonymous trading platform for day ahead delivery.
The exchange provides exchange trading, central clearing & settlement and data distribution services.
Part of APX Group is UKPX, the first independent power exchange in the UK which provides a 24x7 continuous market place for spot, prompt and forward power contracts in the UK.
APX Gas is an integrated gas exchange operating markets in the UK (On-the-Day Commodity Market and NBP), the Netherlands (TTF) and Belgium (Zeebrugge Hub)APX Gas UK is the UK gas exchange and facilitates about two thirds of all daily trade in the UK. In addition to its UK gas exchange, in February 2005 APX Gas launched gas exchanges in the Netherlands and Belgium. The gas exchange APX Gas NL is established on the Dutch TTF (Title Transfer Facility), the virtual trading point of the national gas transmission system operator Gas Transport Services B.V., a subsidiary of Gasunie. APX Gas ZEE is owned by APX and Huberator, the Zeebrugge Hub operator, a subsidiary of the Belgian gas transmission system operator Fluxys.
As Transmission System Operator and manager of the Dutch transmission grid, TenneT is responsible for the 'highways' of the Dutch electricity grid, which interconnect all regional electricity grids and the European grid. The organisation aims to provide optimum services for a well functioning electricity market in the Netherlands and North West Europe. Therefore, TenneT continually works on strengthening the Dutch energy market from a European perspective.
Gasunie is a Dutch gas transport company, owning one of Europe's largest pipeline networks (11,600 kms). Gasunie pursues the safe, profitable and reliable delivery of natural gas and related services to the integrating European market in an efficient and sustainable way. Gasunie aims at maintaining its position as a leading player in European gas transport. The Dutch grid is positioned in the heart of the North-west European gas infrastructure. Border crossing transmission already makes up two thirds of the throughput of the Gasunie system. Gasunie focuses on maintaining and developing its system as a 'gas roundabout' in this part of Europe.