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Integrated Annual Report 2016 TenneT Holding B.V.
Empowering society
2016 at a glance

Society

Grid availability in both the Netherlands and Germany was maintained at high levels throughout 2016. TenneT made great efforts to the open and transparent public consultations on new projects, such as the Suedlink and SuedOstLink power lines in Germany. Following the German parliament’s decision to go for underground cabling, TenneT has been drawing up new power line corridors for SuedLink, making it the longest underground power line ever constructed and operated. In the Netherlands, the updated routing document for the eastern part of South-West 380 kV was well received, allowing next steps to be taken in 2017.

Grid
Availability
99.9999%
HVDC converter
locations
15

Society

Grid availability in both the Netherlands and Germany was maintained at high levels throughout 2016. TenneT made great efforts to the open and transparent public consultations on new projects, such as the Suedlink and SuedOstLink power lines in Germany. Following the German parliament’s decision to go for underground cabling, TenneT has been drawing up new power line corridors for SuedLink, making it the longest underground power line ever constructed and operated. In the Netherlands, the updated routing document for the eastern part of South-West 380 kV was well received, allowing next steps to be taken in 2017.

Customer
satisfaction
86%

Markets

TenneT was appointed as developer and operator of offshore grid connections in the Dutch part of the North Sea. Looking ahead, in June TenneT presented its long-term vision for developing a large-scale energy system in the North Sea to further support the transition of the North West European (NWE) energy market towards achieving the 2050 global warming reduction targets. At the heart of TenneT’s vision is the construction of an artificial island in the middle of the North Sea that will connect remote wind energy to a variety of European consumers.

Environment

In April, TenneT signed the Green Deal Infranatuur, underlining our commitment to biodiversity in the Netherlands. As a signatory to this deal, we are committed to sharing our experience and knowledge, with the aim of reducing the impact of the Dutch grid infrastructure on biodiversity.

Carbon footprint
(tonnes CO2e)
2,278,396

Environment

In April, TenneT signed the Green Deal Infranatuur, underlining our commitment to biodiversity in the Netherlands. As a signatory to this deal, we are committed to sharing our experience and knowledge, with the aim of reducing the impact of the Dutch grid infrastructure on biodiversity.

Number
of employees
3,040
Lost Time
Incident Frequency
3.6

Employees

TenneT's ambition on safety performance was under pressure in 2016 with the occurrence of a fatal accident with one of our contractors and increase of our Lost Time Incidents Frequency (LTIF) rate. We deeply regret this and are committed to stepping up our efforts of becoming a safety leader. The introduction of Life Saving Rules for our employees and contractors is one of the measures we have taken towards strengthening safety awareness and improving our safety culture.

Financial

In order to finance TenneT's significant capital-investment programme, we successfully completed a EUR 500 million green Schuldschein issue in May and, additionally, issued a total of EUR 1.5 billion of green bonds in 2016. Furthermore, TenneT’s shareholder, the Dutch State represented by the Ministry of Finance, committed to contributing up to EUR 1,190 million of additional equity capital over the 2017-2020 period.

Profit for the year
(EUR million)
523
Investments
(EUR million)
1,848

Financial

In order to finance TenneT's significant capital-investment programme, we successfully completed a EUR 500 million green Schuldschein issue in May and, additionally, issued a total of EUR 1.5 billion of green bonds in 2016. Furthermore, TenneT’s shareholder, the Dutch State represented by the Ministry of Finance, committed to contributing up to EUR 1,190 million of additional equity capital over the 2017-2020 period.

Empowering society
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CEO statement
Mel Kroon
CEO and Chair of the Executive Board

"Empowering society is at the heart of TenneT’s mission, as we provide a secure electricity supply in the Netherlands and a large part of Germany."

Read complete letter from the CEO >
Results, Challenges and Outlook

Find out what we did for society, markets, environment, and our employees, as well as our challenges and financial performance in 2016.

Society

Society is has become highly dependent on electricity. We work together with all members of society from national to local level to make sure we have a stable, secure and flexible grid.

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Markets

We empower society by connecting European markets and ensuring a secure supply of electricity at the best possible price.

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Environment

Our work has an unavoidably impact on nature. We are fully aware that we have a responsibility to care for the well-being of the natural environment and to protect green spaces and wildlife for future generations.

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Employees

Our people are key to our continued success and growth. We aim to create a safe, healthy, stimulating and energising workplace, where our employees can perform to the best of their abilities.

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Financial

In setting our financial policy, we strive for an adequate return on capital and an affordable cost of electricity supply for society.

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TenneT Strategy and Business Model
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True value

Being transparent about our impact on society is crucial in our dialogue with stakeholders. Although difficult, we see the value in being able to compare the different impact we have. As such, we have made a first step in monetising our non-financial impact to provide insight into a project’s true societal impact. Click on the infographic below to read more on the true value case study of cabling in Apeldoorn.