Activities

Unregulated activities

Besides the regulated activities TenneT Holding B.V. also undertakes several activities aimed at supporting the energy market and ensuring that it operates smoothly. It is precisely the company's independent position that makes it prudent for TenneT Holding B.V. to perform these activities. In doing so TenneT applies unambiguous criteria when deciding whether or not to carry out new activities. They must in any event contribute to enhancing the transparency and efficiency of the Dutch energy market, or to the environmental quality of energy. The activities must support our statutory tasks and not put them at risk. They may not impair the quality or independence of TenneT TSO B.V.

APX B.V.

APX Group, with its head office in Amsterdam, is a group of international electricity and gas exchanges for short-term trading in Belgium, the Netherlands, Luxembourg and the United Kingdom. N.V. Nederlandse Gasunie owns 26.1% of the shares, the Belgian gas transport company Fluxys S.A. owns 3.84%, and the remaining 70.06% are held by TenneT Holding B.V. The core activity in the Netherlands concerns the spot market for electricity. It is possible to trade anonymously on this market by means of an auction system that runs on an electronic trading platform. Trading is in spot contracts for next-day and intraday delivery. The exchange clears the contracts and publishes information, including a daily price index.

• APX Commodities Ltd. (formerly APX Gas Ltd.)

APX Commodities Ltd. facilitates two thirds of all 24-hour and spot trading of gas in the United Kingdom. In 2007 APX Power Ltd. subsumed the activities of APX Power UK, the independent electricity exchange in the United Kingdom which facilitates anonymous continuous trading in spot and forward contracts, under APX Commodities Ltd.

• APX Power Ltd.

Inactive company, activities incorporated into APX Commodities Ltd.

• APX Clearing Ltd.

Dormant company.

• APX Gas NL B.V.

In collaboration with Gas Transport Services B.V., APX Gas NL B.V. facilitates intraday and spot trading on the Title Transfer Facility (TTF), a virtual platform in the Netherlands.

• APX Gas Zeebrugge B.V.

APX Gas Zeebrugge B.V. provides a gas trading platform at the Belgian port of Zeebrugge. It acts as a central counterparty to allow parties to trade anonymously.

• Endex European Energy Derivatives Exchange N.V.

Endex European Energy Derivatives Exchange N.V. was established with the aim of developing a trading platform for bilateral long-term transactions in the electricity market.

• Belpex S.A.

APX holds 10% of the shares in Belpex, the Belgian electricity exchange.

NLink International B.V.

NLink International B.V. was established to develop and build international submarine cables, including a submarine cable to the United Kingdom.

• BritNed Development Ltd.

BritNed Development Ltd. is a 50/50 joint venture of NLink International B.V. and National Grid International Ltd., with its registered office in London. It was set up to develop, build and operate an interconnector between the Netherlands and the United Kingdom.

NOVEC B.V.

NOVEC B.V. rents out and manages antenna sites for distributing radio and television signals via the air and for telecommunication purposes.

• Relined B.V.

This 50/50 joint venture between NOVEC B.V. and ProRail B.V. operates the fibre-optic cable infrastructure of the high-voltage grid and the railway network.

• Nozema Agro Beheer B.V.

This company manages the land surrounding the antenna site at Zeewolde.

New Values B.V.

New Values B.V. is a 50/50 joint venture of TenneT Holding B.V. and Rabobank Netherlands. New Values is an electronic market that facilitates trading in carbon dioxide emission allowances by means of a full-trade electronic trading platform.

• European Energy Auction B.V. (trading as EnergieKeuze)

EnergieKeuze (Energy Choice) is an on-line auction house that facilitates the trade in supply contracts for the business market in the Netherlands and Belgium.