Gross capital expenditures amounted to € 889 million in the first half of the year, which is € 241 million higher than in 2024. This increase in gross investments is mainly caused by:
€ 261 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 53% compared with the first half of 2024.
€ 20 million lower other capital expenditures due to a decrease in investments in buildings.
Customer contributions amounted to € 63 million, which is € 11 million higher than last year. Net capital expenditures, therefore, amounted to € 826 million, which represents a € 230 million increase compared to the first half of 2024.
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 2025.
|
€ Million |
1st half year 2025 |
1st half year 2024 |
|
Electricity |
||
|
Standard connections |
33 |
32 |
|
Customised connections |
35 |
33 |
|
Grid expansions and grid improvements |
533 |
311 |
|
Reconstructions |
29 |
24 |
|
Replacements |
55 |
48 |
|
Other |
34 |
23 |
|
Total Electricity |
719 |
471 |
|
Gas |
||
|
Standard connections |
2 |
2 |
|
Customised connections |
2 |
1 |
|
Grid expansions and grid improvements |
11 |
10 |
|
Reconstructions |
11 |
11 |
|
Replacements |
80 |
71 |
|
Other |
1 |
1 |
|
Total Gas |
107 |
96 |
|
Smart meters |
||
|
Low-volume electricity |
10 |
9 |
|
Low-volume gas |
6 |
5 |
|
Total smart meters |
16 |
14 |
|
Total investments electricity, gas and smart meters |
842 |
581 |
|
Other investments |
47 |
67 |
|
Total gross investments |
889 |
648 |