TenneT Reports Significant Growth in 2012 (Germany)

Electricity transporter and high-voltage grid operator TenneT has again made huge efforts in 2012 to strengthen and expand its grids in the Netherlands and Germany.

Revenues and profit increased in accordance with this growth. In 2012 TenneT invested EUR 1.6 billion. By doing this TenneT is facilitating the further sustainability of energy supplies and the integration of the Northwest European energy market. The high security of supply (99.99986%) which TenneT was able to offer again in 2012 has the reliable high-voltage network as a solid basis.

Mel Kroon, CEO: “TenneT finds itself in the middle of a rapidly changing energy playing field. The strong rise of shale gas, the German energy transition, inclusion of sustainable energy production, decentralised energy generation, European countries with very different (sustainable) energy strategies and the electrification of society. Such developments have a significant impact on our work as a cross-border transmission system operator and clearly demonstrate that our ambition of a true Northwest European energy market is a must. Investments in the Dutch and German grids are badly needed and we must continue to combine the high security of supply with appropriate prices for the transport of electricity.”

Eelco de Boer, CFO: “We have successfully strengthened our balance sheet with additional equity needed to support our sizable investment portfolio in Germany. Within the next two years further equity from our shareholder or third parties will be required to shoulder our Dutch investments as well.”

[mappress]

Press Release, March 13, 2013