Revenue
Of the total revenue in 2023, 75% (2022: 70%) is related to Taxonomy eligible activities. The revenue in connection with the transmission of electricity and heat (NACE code 35.13 and NACE code 35.30) qualifies as eligible revenue. The percentage of the eligible revenue that cannot be qualified as aligned is 0% percent (2022: 1%). This revenue pertains to revenue in connection with CHP connections, conventional meters, and revenue in connection with the transmission and distribution of heat (activity 4.15). The other 25% pertains mainly to revenue in connection with the transmission and distribution of natural gas. Of the total revenue, 75% (2022: 69%) can be qualified as aligned. This increase is mainly due to the fact that the aligned revenue related to activity 4.9 increased faster than the other revenue. The increase pertains mainly to an increase in the periodic transmission and connection fee for electricity of both small and large-volume consumers. See the table below for a specification of the aligned revenue.
|
€ million |
2023 |
2022 |
|
Periodic transmission- and connection fees for electricity - High volume consumers |
530 |
401 |
|
Periodic transmission- and connection fees for electricity - Low volume consumers |
868 |
672 |
|
Metering services - electricity |
74 |
81 |
|
Amortised contributions - electricity |
24 |
21 |
|
Other revenue |
17 |
10 |
|
Total aligned revenue |
1,513 |
1,185 |
The determination of the total revenue under the Taxonomy is in line with the IFRS reporting standards and is thus the same as the financial statements (note 1. Revenue).
Capital Expenditure (CapEx)
Of the total capital expenditure, 75% (2022: 71%) is related to Taxonomy eligible activities. Eligible capital expenditure is defined as: all investments in tangible fixed assets related to our electricity grid (activity 4.9/NACE code 35.13), all investments in tangible fixed assets pertaining to pipelines and installations in heating and cooling systems (activity 4.15/NACE code 35.30), all investments in our vehicle fleet (activity 6.15) and office and industrial buildings (activity 7.7). 5% (2022: 3%) of total capital expenditure was eligible but not aligned because it was concluded that this did not satisfy the technical screening criteria, therefore 70% (2022: 68%) of the total capital expenditure pertains to Taxonomy aligned activities. The increase in the share of eligible but not aligned CapEx is caused by an increase of € 8 million in the investments in Mijnwater Warmte Infra B.V. Enexis also expanded its vehicle fleet and purchased an office building causing the investments in activity 6.5 and 7.7 to increase compared to the previous year.
For the CapEx KPI, it is also the case that the largest share of the non-eligible and non-aligned capital expenditure pertains to investments in the natural gas grid.
Investments in the heating grid rose by € 8 million in 2023. These investments mainly pertain to the expansion of the main heating grid. As explained above, Enexis cannot demonstrate that these investments satisfy the technical screening criteria of the Taxonomy. Therefore, these investments cannot be qualified as aligned.
The investments in CHP connections and conventional meters were nil in 2023. The investments in connection with activity 6.5 and activity 7.7 did not satisfy the criteria for alignment in 2023.
Total capital expenditure under the Taxonomy is in alignment with the IFRS reporting standards and concern:
Investments in property, plant and equipment (note 12 in the financial statements);
Investments in intangible fixed assets (note 13 in the financial statements);
Additions to the right of use assets (IFRS 16) (note 14 in the financial statements).
Operational Expenditure (OpEx)
Of the total operational expenditure, 79% (2022: 77%) pertains to Taxonomy eligible activities. 10% (2022: 9%) of total operational expenditure was eligible but not aligned because it was concluded that the technical screening criteria were not satisfied. Of the total operational expenditure, 69% (2022: 68%) pertains to Taxonomy aligned activities. The eligible and aligned percentages in relation to operational expenditure in 2023 were in line with 2022.
Operational expenditure under the Taxonomy is defined as direct non-capitalised costs pertaining to the maintenance of assets. Based on this definition, Enexis has determined that operational expenditure in connection with the activities 4.9 and 4.15 concerns expenditure for maintenance and outages.
When determining the eligible operational expenditure, alignment was again sought with the existing classification of business activities and the existing NACE coding method. The operational expenditure under NACE code 35.13 and NACE code 35.30 concerns expenditure for maintenance and outages of assets in connection with maintaining our electricity grid.
The maintenance and outage expenses related to the district heating grid (activity 4.15) are not further specified and are therefore included under the non-eligible OpEx. Operational expenditure in connection with activity 6.5 and 7.7 concerns all expenditure in connection with daily maintenance of the vehicle fleet and buildings that has not been capitalised.