Capital expenditures

Gross capital expenditures amounted to € 648 million in the first half year and were thus € 133 million higher than in 2023. This increase in gross capital expenditures is mainly attributable to:

  • € 100 million higher investments in the electricity and gas grids (including smart meters). Higher customer demand due to the energy transition is leading, in particular, to an increase in the workflows in connection with electricity grid expansions and improvements. As a result, investments in the electricity grid increased by 29%.

  • € 33 million higher other capital expenditures due to an increase in investments in improvement projects and an increase in investments at Enexis Vastgoed B.V. and Enpuls B.V.

Customer contributions amounted to € 52 million and are thus € 7 million lower than last year. As a result, net capital expenditures amounted to € 596 million, which represents a € 140 million increase compared to the first half of 2023. Customer contributions did not increase in line with gross capital expenditure as the growth in the work concerns workflows for which no customer contributions are received.

The table below shows the gross capital expenditures (excluding contributions) in our electricity and gas grids and smart meters as well as the other investments in the first half of 2024.

€ Million

1st half year 2024

1st half year 2023

Electricity

Standard connections

32

29

Customised connections

33

59

Grid expansions and grid improvements1

311

204

Reconstructions

24

14

Replacements

48

39

Other

23

21

Total Electricity

471

366

Gas

Standard connections

2

2

Customised connections

1

1

Grid expansions and grid improvements1

10

9

Reconstructions

11

9

Replacements

71

78

Other

1

1

Total Gas

96

100

Smart meters

Low-volume electricity

9

10

Low-volume gas

5

5

Total smart meters

14

15

Total

581

481

Other investments

67

34

Total gross investments

648

515

  • 1In the interim report 2023, the grid improvements workflow was presented under 'other'. From this year onwards, the grid improvements will be presented under the line 'grid extensions and grid improvements'. The comparative figures have also been adjusted accordingly.