1. Revenue

Regulated revenue includes revenue from the provision of services relating to the connection and transmission of electricity and gas, metering services, and other services, less turnover tax and energy tax. Other revenue includes revenue from the provision of services such as energy measuring energy flows, design and realisation of infrastructure, rental and maintenance of casings, transformers and switchgear installations.

The transmission and connection fees agreed in the contracts with low-volume energy consumers and high-volume energy consumers are identified as a single performance obligation, as the transmission of electricity and gas cannot take place without the connection and the grid. The transaction price is determined on the basis of the standard tariffs charged by Enexis Groep, which for the regulated revenue are based on the maximum tariffs set by the Netherlands Authority for Consumers & Markets (ACM). Transmission of electricity or gas during the contract period constitutes a series of services that are realised over time. Progress is measured on the basis of the number of days on which Enexis Groep provides its services to the customer.

Enexis Groep only supplies goods and services within the Dutch market.

Revenue is calculated by adding the estimated grid fees to the invoiced grid fees and deducting the estimated grid fees to be invoiced at the end of the previous reporting period. The periodic billing of low-volume energy consumers takes place based on fixed amounts depending on the size (capacity) of the connection. It is invoiced and collected by the energy suppliers. The energy suppliers periodically pass on the amounts charged to consumers to Enexis Groep. High-volume energy consumers are invoiced periodically based on the contractually agreed capacity and, in the case of electricity, based on the metered consumption and actual grid load.

The table below provides a breakdown of revenue:

Revenue rose by 28.9% compared to 2023. This consists of an increase of 29.6% in the regulated revenue (excluding other revenue) and a decrease of 4.5% in the other revenue.

The increase in regulated revenue is mainly attributable to a tariff increase of the periodic transmission and connection charges for electricity and gas. Revenue from transmission and connection fees for electricity rose by 39.7% compared to 2023. This increase is the result of an average tariff increase of 37.6% and a volume decrease of 2.1%. The tariff increase is largely due to the higher costs of TenneT’s transmission services, which are passed on in the tariffs charged by Enexis to its customers. In addition, the tariffs are higher in 2024 as a result of the adjusted Methodebesluit Elektriciteit (‘Electricity Method Decision’) following the decision of the Trade and Industry Appeals Tribunal of 21 December 2023.

Revenue from gas transmission and connection fees rose by 2.7% compared to 2023. This increase is attributable to an average tariff increase of 4.6% and a volume decrease of 1.9%.

Regulated revenue from electricity and gas metering services increased by 16% compared to 2023. This increase is mainly attributable to an average tariff increase of 15.1%. The increase in tariffs mainly relates to an 81.1% increase in tariffs for metering services, while there was a 7.8% decrease in tariffs for electricity metering services.

ACM is expected to make margin decisions for metering services as of 2011 based on which regional grid operators will have to settle part of the margin on metering services in the past with future tariffs. Due to the higher energy costs for consumers, Enexis decided to lower the metering service charges already in 2023 in advance of this decision by ACM. However, in the 2023 tariffs, Enexis has already included more of its margin for gas than electricity. In 2024, the metering tariffs for gas, therefore, increased significantly but are still below the maximum set by ACM. For electricity, the metering tariffs were further reduced.

In the net revenue for 2024, the estimated grid charges for low-volume customers amounted to 143 million (2023: €113 million), and for large-volume customers €69 million (2023: €9 million), together 8.2% (2023: 8.0%) of total revenue. The maturity differences of these revenue items yet to be invoiced are generally small. The estimated revenue relates to December and is largely based on revenues generated in November.