Talks with APX-ENDEX to become a shareholder in Climex

On 27 May TenneT and Rabobank have reached an agreement stating TenneT’s shares in Climex may well be moved to gas and power exchange APX-ENDEX and APX-ENDEX becoming a shareholder in Climex.

APX-ENDEX, presently already providing clearing services to Climex’ spot market, is investigating this option as it is considered to be an important step in realising its carbon ambitions. If agreement can be reached, APX-ENDEX intends to bundle all its green activities and products in Climex. The other shareholder of Climex, Rabobank, would continue its shareholding in Climex. Talks are advanced and expected to be finalised soon.

Climex would continue as a separate entity, but in close cooperation with APX-ENDEX, tapping into economies of scale, overlaps in markets, clients and members and seize other opportunities on the market. The intensified relationship between APX-ENDEX and Climex would be very advantageous to members and potential members. APX-ENDEX power and gas members would get easier access to trading on Climex and vice versa, a streamlined application process, central clearing and settlement facilities and more shareholder push and focus.

European Energy Auction, a 100% daughter of Climex, would also be part of the acquisition. APX-ENDEX sees this as an opportunity to broaden its markets to serve industrial as well as governmental organisations which are the majority of the client base of European Energy Auction.