Updates: last update's detail

ELIA and TENNET take a participation in the holding HGRT.

Source: RTE 29/10/2001

The Belgian and Dutch transmission system operators, ELIA and TENNET, join RTE in the Powernext share capital.

The Belgian and Dutch Transmission System Operators, ELIA and TENNET, will take a participation in Powernext SA through HGRT, the holding of European Transmission System Operators. Both the participation of ELIA and TENNET will amount to 24.5% of the HGRT share capital. RTE will be the major shareholder with 51% of the HGRT share capital.

Since its creation on July 30th 2001, Powernext SA, the company in charge of managing the soon to be launched French Electricity Power Exchange, counted HGRT, the holding of European Transmission System Operators, as one of its main shareholders. Till today only RTE, the French Transmission System Operator, participated in HGRT. HGRT will soon open its share capital to ELIA and to TENNET.
HGRT allows the European Transmission System Operators to be represented in Powernext SA and consequently to ensure the consistency between the market rules and the security and supply requirements of the European electricity networks.
With a share capital of 10 million euros, Powernext SA brings together major traders in electricity and financial markets. Euronext, the pan-European Stock Exchange, and HGRT account for respectively 34% and 17% of its share capital.
The remaining 49% are equally spread among BNP Paribas, Electrabel, Electricité de France, Société Générale, and TotalFinaElf.
Powernext SA will manage the French Auction Electricity Market: POWERNEXT. RTE will be in charge of the physical delivery of the electricity traded on POWERNEXT. Clearnet, the Euronext clearing subsidiary, will provide the financial guarantee for transactions.

Contact :
Michel DERDEVET , Director of Communications,
Phone + 33 1 41 02 19 73