Climex was founded in 2002 as the world’s first global exchange for environmental commodities. It later absorbed EnergieKeuze, the first Dutch auction platform for energy contracts. Read about the path that Climex has travelled below.
Climex publishes the report “How large energy consumers can power the energy transition”. This is the report of the study conducted by Accenture and Climex. In addition to presenting the study’s major findings, the report outlines a framework for new business models that can provide an impetus to the energy transition.
Climex presents the major findings from the study of the changing energy landscape (conducted in cooperation with Accenture). The Dutch Energy Day is an annual event organised by Energie and Montel.
Climex moves into energy management activities, including digital management of energy connections, invoice control and consumption reports. Climex chooses the DB energy system for these services.
Climex advises large-scale consumers on the market risks of electricity and natural gas and also offers these organisations a risk profile analysis. Using cutting-edge price analysis software, Climex calculates the results of various potential procurement strategies. This analysis provides insight into factors such as price risks and the organisation’s price sensitivity in order to arrive at the optimal procurement strategy.
Accenture and Climex launch a joint study of the changing energy landscape. Taking the Dutch “Energy Agreement” as a starting point, they analyse the trends in demand and the supply side of the market. The main question of the study is how to arrive at new business models that can promote the energy transition.
Through his holding company Green Ventures BV, general manager Jeroen van de Kletersteeg purchases the shares in Climex from Rabobank, making him Climex’s independent owner. Rabobank International continues supporting Climex in the form of the Escrow & Settlement function through which Climex’s larger transactions are conducted.
Climex launches its sustainable energy trading platform, the first platform of its kind in the Netherlands. It offers Dutch producers of sustainably generated electricity the ability to offer guarantees of origin to the Dutch consumer. The platform is designed for large-scale consumers with a need to purchase electricity from a specific generation facility. In addition to guarantees of origin, the platform is also used for trading in emissions reduction certificates from CO2 reduction projects. It is an answer to the increasing demand for transparency in the supply of sustainably generated energy at the local level and beyond.
In order to achieve the European targets for 2020, the Netherlands signs a broadly supported agreement intended to promote the shift towards energy transition in the Netherlands. One of its major objectives is an increase in the share of renewable energy generation to 14% (up from the current 4%) by 2020, and a further increase to 16% in 2023. Climex endorses the further increase of sustainability of the energy landscape as a key theme in its new product development.
Tocardo, manufacturer of tidal turbines, and Climex enter into a partnership under which Climex will assist Tocardo in the execution of the Oosterschelde tidal project. Climex negotiates a long-term purchasing contract (PPA) with a listed company end user for the electricity to be produced by the project, and is also involved in structuring the project financing. The PPA provides the desired creditworthiness for the future cash flows that will be used to reduce the costs of the financing. This construction is the starting point for the development of new business models to promote the energy transition.
Climex expands its online auction activities with procurement auctions for Guarantees of Origin (certification of renewable power) and CO2 emissions reduction certificates.
When at the beginning of 2011 the European Commission temporarily closes all national registers, making the trading of emissions rights temporarily impossible, Climex decides to launch a new business proposition and discontinue its spot platform for EUAs and VERs. Other European exchanges follow suit and stop their activities shortly thereafter. Climex integrates subsidiary EnergieKeuze under new management. From that moment Climex serves its customers with energy procurement activities, sustainability services and CO2 emissions compensation. Climex uses its online auction platforms to do this and develops a variety of new and innovative products and services.
Newly appointed general manager Jeroen van de Kletersteeg brings Climex fully under the wings of Rabobank International in early 2011.
EnergieKeuze, a subsidiary of TenneT, is taken over by subsidiary Climex in 2007. EnergieKeuze is the business name of European Energy Auction BV. It is an independent company that helps large-scale consumers of electricity and natural gas to select vendors. EnergieKeuze has developed its own online auction platform for this activity.
The European emissions trading system goes into effect. It is the European Union’s most important instrument for cost-effective reduction of greenhouse gas emissions. The system is active in 28 countries and now covers 45% of greenhouse gas emissions within the European Union. From its inception, Climex serves as a global exchange for spot transactions in emissions rights.
Climex launches the first global exchange for trading in CO2 emissions rights in 2004
TenneT and Rabobank establish the joint venture New Values BV to jointly offer a marketplace for transparent trading in NOX certificates and later CO2 credits. New Values BV operates as the first global exchange for spot transactions, and in 2004 introduces the business name Climex (a contraction of “Climate Exchange”).
The market for medium-sized consumers of energy in the Netherlands is deregulated. Businesses are now able to choose their own energy provider and can use the EnergieKeuze online auction platform to do this.
EnergieKeuze is founded as an independent company that helps large-scale users of electricity and natural gas to select vendors. The company develops the first online auction platform for energy contracts. It is later bought by TenneT.