Enexis Netbeheer expanded <b>the capacity of its electricity grid</b> by over 10% in 2021

Enexis Netbeheer expanded the capacity of its electricity grid by over 10% in 2021

10 March 2022

Congestion points in the electricity grid are increasing despite record high investments

The energy grid in Enexis Netbeheer's service area grew faster than ever in 2021. Record
investments led to a 10% increase in capacity. At the same time, more and more congestion points
are arising in the electricity grid. In order to achieve the climate goals in 2030, permit procedures
need to be accelerated and the government must provide a framework for setting priorities with
regard to investments. This is what Enexis is advocating at the time of the publication of its Annual
Report 2021.

Enexis installed more than one thousand kilometres of cable and built a record number of new
stations in 2021. With an additional 1.350 megawatt, the capacity was increased by over 10%.
Moreover, outage times remained low, with on average 17.6 minutes for electricity and 75 seconds
for gas.

Evert den Boer, CEO Enexis Groep: “With the building of all those new stations in the past year, we
have already realised a considerable acceleration. But we are aware that more needs to be done, we
have to increase our production further. Especially, when we look at the climate ambitions of the
new Dutch government. To work faster and in a more targeted manner, the government must set
priorities regarding which activities should be carried out when. After all, it is not possible to do
everything at the same time: we must make choices regarding what needs to be done first and what
can be done later. In addition, it is important that we focus on our core activities as a grid operator:
everything must be aimed at ensuring that the energy supply remains safe and reliable, that we
connect customers timely, and that we realise the energy system of the future. This is the point of
departure for our new strategy, which we will present in April 2022. In this manner, we can make
sure that we employ our scarce technical personnel optimally to realise these ambitions.”

Annual expansion by 1 GW

The total capacity of all renewable energy generating installations connected to our grids increased
by over 35% in 2021. More and more customers want to generate and feed renewable electricity
back into the grid. To enable the structural increase of the supply and demand of energy, one and a
half to two times as much grid capacity is required. We must upgrade and expand our grids in many
areas and make more efficient use of our grids in order to accommodate this. The total capacity of
our electricity grid is approximately 11.5 gigawatt (GW). In the coming years, we will expand our
grids further by at least 1 GW each year. That we have carried out more work in the past year than
ever before is also reflected in our figures. We invested € 959 million in our grids in 2021. This will
even increase up to € 1,044 million in 2022.

Financially sound

At present, Enexis is still able to sustain these investments because of its sound financial position. To
reduce costs, we aim to take extra steps to work even more efficiently in the coming years. In this
manner, we will continue to contribute to an affordable energy grid. However, it is also important
that our revenues increase. We are conducting an ongoing dialogue with the Netherlands Authority
for Consumers and Markets to bring our revenues more in line with the investment requirement. We
are also looking into whether the central government, in addition to the existing shareholders, can
help with the large financing requirement that we are facing in connection with the energy

Net revenue rose to € 1,634 million in 2021 (2020: €1,516 million). Net profit for 2021 amounted to
€ 199 million (2020: € 108 million). This increase is mainly attributable to the TenneT purchasing
costs being compensated in the revenue in the same year as of 2021. Our credit profile is strong: our
credit ratings are A+ (negative outlook) at Standard & Poor’s and Aa3 (stable outlook) at Moody’s.
Also due to these credit ratings, Enexis was able to successfully issue a green bond of € 500 million in
April 2021