Enexis does not regard advance payments from customers for providing a connection and installing the grid as a separate performance obligation. This means that a connection fee received before the connection is established can be regarded as an advance payment for a service still to be provided. Due to the causal relationship between the connection payments received and the capital expenditure incurred for the realisation of the connection, Enexis has opted to spread recognition of revenue from the payments received over the useful life of the connection.
Advance payments received for investments in the construction of grids and connections can be specified as follows:
|
€ Million |
2023 |
2022 |
|
At 1 January |
1,158 |
1,066 |
|
Received during the year |
126 |
123 |
|
Amortised |
-34 |
-31 |
|
Total |
1,250 |
1,158 |
|
Deduct: current portion to be amortised in following financial year |
35 |
33 |
|
Total non-current portion as of 31 December |
1,215 |
1,125 |
The current portion of amounts received in advance amounted to € 35 million (2022: € 33 million) and has been recognised separately under the current liabilities.