2. Transmission services and distribution losses

This includes the transmission services invoiced by TenneT and distribution losses related to revenue.

Transmission service costs and distribution losses increased by €15 million in 2025, to €967 million. Of this increase, €27 million was due to higher costs charged by TenneT for transmission services as a result of tariff increases (€9 million) and volume increases (€18 million). The increase in electricity consumption and the number of connections resulted in an increase in the volume purchased.

In addition, the costs for distribution losses decreased by €12 million. Of this, a decrease of €24 million was attributable to electricity (€-26 million due to price differences, €+2 million due to volume differences). The decrease in the costs of electricity for distribution losses was mainly due to the fall in electricity prices during the recent period. After a period of extreme fluctuations in energy prices in 2022 and 2023, prices stabilised somewhat in 2024 and 2025.

Grid losses from gas transmission increased by €7 million (€-2 million due to price differences and €+9 million due to volume differences). The increase in volume differences was mainly due to a higher grid loss volume than previously estimated.

Other grid losses increased by €5 million, mainly due to settlements with customers for metering errors, which resulted in an expense of €3 million in 2025 for Enexis compared to a gain of €2 million in 2024.

Enexis Netbeheer B.V. distributes the transmitted energy among its customers through its allocation and reconciliation process. In this case, the allocation is the advance, and the reconciliation is the final settlement. The difference between the energy taken up by the distribution grid and the energy allocated to the end users after allocation and reconciliation is the distribution loss. The reconciliation for the calendar year in question is only finalised after a reconciliation process that takes 20 months. Using forecasts, Enexis Netbeheer B.V. tries to estimate the final reconciliation result as accurately as possible to minimise the distribution loss. User profiles, actual annual feed-in, and historical data are used as input for these forecasts. The result from reconciliation amounted to a loss of €9 million in 2025. This represents a decrease of €10 million compared to 2024, when Enexis reported a gain of €1 million.

For more information on Enexis’ policy to control risks related to distribution losses, see note 30 ‘Financing policy and risks associated with financial instruments’ in the 2025 consolidated financial statements of Enexis Holding N.V.