April 5, 2000
The Electricity Pool's Chief Executive
Andrew Claxton to Join Automated Power Exchange
LONDON -- Automated Power Exchange (TM) Inc. (APX®),
a leading provider of e-commerce services for the electricity industry,
today announced that Andrew Claxton, chief executive of The Electricity
Pool of England and Wales for the past five years, will join APX
April 25. A leader in the liberalisation of United Kingdom electricity
markets, Claxton will be vice president of strategy and business
development for APX's European businesses.
"Andrew is a leading authority on European market reform, having
led The Electricity Pool's opening of retail competition in 1998
and 1999," said Per Hjorth, managing director, APX European businesses.
"Under his leadership, The Pool has grown to around 90 trading members
and has become a fully liberalised market. We are very pleased to
have Andrew bring his knowledge and experience to our executive team."
To be based in APX's European headquarters in London, Claxton
will be responsible for developing opportunities for APX's e-commerce
services throughout Europe. A principal focus will be the development
of the new APX U.K. Market, an Internet-based power exchange scheduled
to open before the launch of the U.K.'s new electricity trading
arrangements (NETA), as well as the development of additional wholesale
electricity exchanges and information management and market services
to support international trade.
Said Claxton, "APX represents a logical progression in electricity
market liberalisation. The APX approach uses new technology and
business processes to let markets operate freely while reducing
the scope of mandatory, centralised mechanisms. I look forward to
contributing to this full range of next-generation market solutions."
Since 1995 as chief executive of The Electricity Pool based in
London, Claxton has played a key role not only in the liberalisation
of the U.K. electricity supply market, but also in the implementation
of the NETA scheduled to launch this year. The Pool was founded
in 1990 to enable the world's first fully liberalised electricity
The Pool, under Claxton, was a founding member of the Association
of Power Exchanges, which provides an information forum for operators
of electricity markets in Asia, Australia, Europe, North America,
and South America. Claxton is a member of the steering committee
of the association's European arm - European Power Exchanges (EuroPEx).
He also has been a member of the appeals committee for the Amsterdam
Prior to joining The Pool, Claxton was a senior engagement manager
in the London office of McKinsey and Company, the international
management consulting firm. In that position, he advised complex
network-type industries, such as airlines and railways, in Europe
and the U.S. on key strategic and organisational issues.
Claxton earned an M.B.A from Stanford University in Stanford,
Calif., U.S.A, in 1988 and an undergraduate degree in chemical engineering
from Cambridge University in Cambridge, England, in 1984.
Automated Power Exchange operates Internet-based exchanges and
clearinghouses for the buying and selling of electricity, energy
transmission, and related products, and provides the core market
and scheduling technologies and services needed to support power
system administration. A privately held company, APX has its world
headquarters in Santa Clara, Calif., and its European headquarters
APX is a registered trademark of, and Automated Power Exchange
is a trademark of Automated Power Exchange Inc. EcoPower
is a service mark of the Environmental Resources Trust (ERT).