Long-term financial liabilities
Long-term financial liabilities amounted to € 847 million as at 30 June 2025 (year-end 2024: € 791 million).
|
30 June 2025 |
31 December 2024 |
|||||
|
€ Million |
< 1 year |
1-5 year |
> 5 year |
< 1 year |
1-5 year |
> 5 year |
|
Service agreements |
17 |
9 |
- |
18 |
18 |
- |
|
IT |
41 |
50 |
0 |
49 |
71 |
0 |
|
Costs for grid losses1 |
122 |
285 |
43 |
120 |
212 |
44 |
|
Investment and financing obligation |
6 |
1 |
- |
10 |
3 |
- |
|
Materials and services |
156 |
91 |
26 |
138 |
73 |
35 |
|
Total |
342 |
436 |
69 |
335 |
377 |
79 |
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, including cables, transformers and contractor work. These framework agreements do not contain any legal purchase obligations and are the result of large-scale tendering processes. The total value of these contracts can amount to several billion euros over their entire term, in line with our commitment to the energy transition.
Obligation regarding the removal of gas connections at the request of customers
Under the Gas Act, Enexis is obliged to remove gas connections if the customer submits a request for this. If the customer specifies a desired date for the removal of the connection, Enexis may charge the customer for the costs. For requests without a desired date, these costs will be covered in (future) tariffs.
As of the end of June 2025, Enexis has formed a provision of € 8 million for the expected removal costs of requests without a desired date that were received on or before the balance sheet date that will be carried out after the balance sheet date.
No provision has been made for future removal requests. Depending on factors such as the speed of the energy transition, design choices for the new energy system, and developments in legislation and regulations, future requests for removal may result in a significant outflow of funds in future periods. However, the principle of tariff regulation is that regional grid operators are compensated for their (efficient) costs and investments, including a reasonable return. Under the current regulatory method, Enexis will be reimbursed for these removal costs via the tariffs two years later. While the total removal cost over the period up to and including 2050 may be significant, its impact on Enexis’s financial position is expected to be limited as these costs will be reimbursed via regulated tariffs.