1. Revenue

Revenue consists of regulated and non-regulated income.

Regulated revenue accounts for the income from the supply of services relating to the connection and transmission of electricity and gas, measurement services, and other services, less turnover tax and energy tax. Non-regulated revenue accounts for the income from the supply of services such as measuring energy flows, design and realisation of infrastructure, rental and maintenance of casings, transformers and switchgear installations, and advice.

The transmission and connection fees agreed in the contracts with low-volume energy consumers and high-volume energy consumers are identified as a single performance obligation given that the transmission of the electricity and gas cannot take place without the connection and the grid. The transaction price is determined on the basis of the standard tariffs charged by Enexis Groep, which for the regulated revenue are based on the maximum tariffs set by the Netherlands Authority for Consumers & Markets (ACM). Transmission of electricity or gas during the contract period constitutes a series of services, which are realised over time. Progress is measured on the basis of the number of days that Enexis Groep provides its services to the customer.

Enexis Groep only supplies goods and services within the Dutch market.

Revenue is determined by adding the estimate of the still-to-be-invoiced grid charges to the invoiced grid charges and deducting the estimate of the still-to-be-invoiced grid charges at the end of the previous reporting period. The periodic charging of low-volume energy consumers takes place based on fixed amounts depending on the size (capacity) of the connection and is invoiced and collected by the energy suppliers. The energy suppliers pass the amounts charged to consumers on to Enexis Groep periodically. Charging of high-volume energy consumers takes place periodically based on the contractually agreed capacity and, in addition, for electricity, based on the metered consumption and actual grid load.

Non-regulated rental income does not fall under the scope of IFRS 15 and qualifies as a lease under the lease accounting standards. These income items are classified as a separate category within revenue, not being income from customer contracts. In the specification of revenue, there is a further breakdown into regulated and non-regulated items:

Revenue rose by 18.1% compared to 2022. The consists of an increase of 22.4% in regulated revenue and a decrease of 53.7% in non-regulated and other revenue. The decrease in non-regulated and other revenue is attributable to the sale of Fudura B.V. in the third quarter of 2022.

The increase in regulated revenue is mainly attributable to a tariff increase of the periodic transmission and connection charges for electricity and gas.

Revenue from transmission and connection fees for electricity rose by 30.3% compared to 2022. This increase is the result of an average tariff increase of 28.2% and a volume decrease of 2.1%. Revenue from gas transmission and connection fees rose by 16.2% compared to 2022 This increase is attributable to an average tariff increase of 19.5% and a volume decrease of 3.3%.   

Regulated revenue from electricity and gas metering services decreased by 24.8% compared to 2022. This decrease is mainly attributable to an average tariff decrease of 24.9%. The ACM is expected to take margin decisions for metering services as from 2011 based on which regional grid operators will have to settle part of the margin on metering services in the past with future tariffs. Due to the higher energy costs for consumers, Enexis decided to lower the metering service charges already in 2023 in advance of this decision by the ACM. As a result, Enexis's revenue in 2023 was € 35 million lower.

In the net revenue for 2023, the estimated grid charges for low-volume customers amounted to € 113 million (2022: € 96 million), and for large-volume customers € 49 million (2022: € 37 million), together 8.0% (2022: 7.8%) of total revenue. 
The maturity differences on these still-to-be invoiced income items are generally small. Estimated revenue relates to the month of December and is largely based on the revenue generated in November.