“Enexis produced good financial results in 2012. By a moderate increase of our tariffs, we were able to achieve our strategic objective of providing an affordable service while maintaining the reliability of our networks at a high level. We also saw an opportunity to increase our planned investment in the replacement and improvement of our networks. The solid financial foundation of Enexis contributed to the keen interest shown by institutional investors for our second bond loan. We have devoted extensive effort to strengthening the service we provide to customers. The provision of information to customers regarding outages has improved, and the connection service has been simplified. We are also investing in improving sustainability, for example at our offices. By giving employees space to act responsible and to use their professional skills, we are becoming a more attractive employer. We are proud of these achievements. We are committed to
strengthening our business further in the service of our customers.”
In € million
|Profit for the year||229.1||229.4||0%|
|Customer connections (x 1,000)||4,736||4,716||0%|
|Electricity outage time (minutes per connection per year)||21.6||18.9||14%|
|Gas outage time (seconds per connection per year)||36||69||-48%|
|Accident index own employees (DART rate)||0.49||0.53||-8%|
|Number of employees||4,229||4,101||3%|
Enexis realised a profit of € 229.1 million (2011: € 229.4 million). Revenues increased to €1,367.0 million (2011: € 1,314.6 million), mainly due to a limited increase in customer
tariffs. Costs increased mainly due to an increase in the average retirement age.
Enexis is aware of its public duty and its social role. Enexis is limiting the rise in tariffs for
energy transport and metering for its customers. Enexis passed on only a small part (2.5%)
of the legally permitted increase in tariffs (8.4%) to its customers in 2012. This policy will be
continued in 2013, with a tariff increase of 2.2% compared to the permitted increase of
6.7%. By doing so, in 2012 and 2013 Enexis has charged its customers in total € 200 million
less, which directly benefitted our customers financially.
Enexis issued two bond loans in 2012. The first issue was a 10-year loan of EUR 300 million
(with a coupon interest rate of 3.375%), and the second was an 8-year loan of EUR 500
million (coupon interest rate of 1.875%). The low coupon interest rates show the
confidence of financial market parties in the stability and financial solidity of Enexis. The
bond loans will be used to refinance two shareholder loans.
Enexis has simplified its connection process and further improved the provision of
information on power failures. Enexis has also taken measures to offer vulnerable families
more flexibility to continue to pay their bills, so disconnection of electricity and gas can be
avoided as far as possible.
The average score for customer satisfaction was 7.6 in 2012, the same as in the first six
months. Customer satisfaction regarding specific primary processes, such as meter reading,
connections and failures, was also stable. The general level of satisfaction among market
parties such as energy suppliers with regard to Enexis rose further.
In the run-up to completion of the New Market Model, Enexis successfully migrated all its
connection data to the Central Connection Register (Centrale Aansluitregister, or C-AR). The
C-AR will be the source for the future invoicing of items such as the costs of energy
distribution by the energy producers. In addition, Enexis installed a total of 100,000 smart
meters in 2012.
The total investment in 2012 amounted to € 504 million (2011: € 445 million). Enexis is on
track to achieve its ambitious multi-year investment programme designed to keep the
reliability and safety of the grids at a high level.
The average outage time in the Enexis electricity grid in 2012 of
21.6 minutes per connection was in line with the multi-year average (the level of 18.9
minutes in 2011 was a historical low). The national average for the number of outage
minutes in 2012 was 27. The Enexis gas grid experienced an average outage time of
36 seconds (2011: 69 seconds). The national average outage time was 64 seconds per
After thorough preparation, our ‘Smart Grid’ pilots were launched at the end of 2012, in
one district in Zwolle and two districts in Breda. These districts contain housing with smart
energy networks, and a study will be made of the behaviour of the residents regarding
energy generation, awareness of energy use and the returning of energy to the network.
The residents have their own solar and other energy sources, and use an energy computer
to choose themselves when energy is used.
Providing a safe working environment for our employees takes absolute priority. The DART
rate improved to 0.49 (2011: 0.53) which illustrates that working for Enexis has become
Enexis opened a second ‘Enexis Trade School’ in Eindhoven in 2012 that is designed for
school leavers. Several efforts collectively had led to a significant intake of new technical
staff. Attracting qualified technical staff to compensate for the regular outflow of
experienced technicians will continue to be a challenge in the coming years.
After part of the Enexis organisation had already obtained the NTA 8120 quality
certification in 2011, the rest of the company obtained the same certification on 2 July 2012
so that the whole of the Enexis organisation is now certified.
Enexis is seen by its current and potential employees as an attractive employer, which is
confirmed for instance by its top five ranking in the NRC Best Employers Survey.
Enexis further refined its climate policy in 2012 in accordance with the ‘Trias Energetica’
approach, which among other things focuses on measures to reduce energy usage. We now
use 5% less electricity in our offices. In addition, the electricity that Enexis has to purchase,
for instance to cover distribution losses in the electricity networks, is sustainably generated.
Furthermore, emissions resulting from activities without sustainable alternatives are offset
by the purchase of ‘Gold Standard’ certificates. This climate policy means that in its core
operations Enexis is CO2-neutral.