Long-term financial liabilities
Long-term financial liabilities amounted to €937 million as at 30 June 2026 (year-end 2025: €1,051 million).
|
30 June 2026 |
31 December 2025 |
|||||
|
€ Million |
< 1 year |
1-5 year |
> 5 year |
< 1 year |
1-5 year |
> 5 year |
|
Service agreements |
9 |
- |
- |
19 |
- |
- |
|
IT |
45 |
45 |
0 |
47 |
43 |
0 |
|
Costs for grid losses1 |
109 |
324 |
25 |
119 |
363 |
45 |
|
Investment and financing obligation |
7 |
1 |
- |
12 |
3 |
- |
|
Materials and services |
254 |
94 |
24 |
281 |
89 |
30 |
|
Total |
424 |
464 |
49 |
478 |
498 |
75 |
The above table shows the legally binding financial commitments. However, our procurement expectations for materials and services are considerably higher. Enexis enters into framework agreements with multiple suppliers for the procurement of essential materials and services, such as cables, transformers and contractor work. These framework agreements do not contain any legal purchase obligations and result from large-scale tendering processes. The total value of these contracts can amount to several billion euros over the entire term, in line with our commitment to the energy transition.
Obligation regarding the removal of gas connections
Compared with the disclosures in the 2025 financial statements, there were no material changes in the first half of 2026 relating to the provision for the removal of gas connections.
As at 30 June 2026, Enexis recognised a current provision of €14 million (year-end 2025: €11 million) for the expected costs of removing gas connections in response to requests received on or before the balance sheet date that do not specify a requested removal date and will be carried out after the balance sheet date. No provision has been recognised for expected future removal requests; it concerns a contingent liability. As at 30 June 2026, no reliable estimate can be made of the removal costs for expected future requests, given significant uncertainty about the pace and extent of future declines in the number of gas connections.
The underlying uncertainties, including developments in the energy transition, design choices for the future energy system, implementation capacity, and legislation and regulations, have not changed materially compared with year-end 2025. Under the tariff regulation, Enexis is reimbursed for the cost of removing gas connections through customer tariffs. As a result, the impact on its financial position is expected to remain limited.