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7.3 Related parties

Note 7.4 provides an overview of legal entities included in the consolidated financial statements.

Other material related parties are:

  • State of the Netherlands: TenneT Holding B.V. is controlled by the Dutch State, which owns 100% of the Company’s ordinary shares;
  • Open Tower Company B.V.: OTC is deemed related since it is an indirect 25% participation of TenneT Holding B.V.;
  • Mobile Radio Networks Vehicle B.V.: MRNV is deemed a related party because it is an indirect participation of TenneT Holding B.V. Two loans were issued to MRNV.


Legal entities that share key management personnel
Mr Kroon is a member of the Supervisory Board of the Port of Rotterdam. We have a ground lease agreement with the Port of Rotterdam. Mr Kroon was not involved in the negotiations or in the decision-making process regarding this lease agreement. In the course of 2017 Mr. Kroon's membership of the Supervisory Board of the Port of Rotterdam ended.

Ms Hottenhuis is a member of the Executive Board of ARCADIS N.V. ARCADIS is one of our suppliers. Ms Hottenhuis has not been involved in any commercial dealings between ARCADIS and TenneT. Contract reviews, negotiations or awards between the two companies were conducted at the appropriate business levels and in the ordinary course of business.

Mr. Fischer is Chief Executive Officer and a member of the Board of Tata Steel Europe. Tata Steel is one of our customers. Mr. Fischer has not been involved in any business dealings between Tata Steel and TenneT. Contract reviews, negotiations or awards between the two companies were conducted at the appropriate business levels and in the ordinary course of business. In the course of 2017 Mr. Fischer's membership of the Supervisory Board ended. Further reference is made to the Supervisory Board report.

Mr Veenman was a member of the Supervisory Board Prysmian Holding Netherlands N.V. Prysmian is one of TenneT's suppliers. Mr Veenman has not been involved in any business dealings between Prysmian and TenneT. Contract reviews, negotiations or awards between the two companies were conducted at the appropriate business levels and in the ordinary course of business. In the course of 2017 Mr. Veenman's membership of the Supervisory Board Prysmian Holding Netherlands N.V. ended.

The Port of Rotterdam, ARCADIS and Prysmian Holding Netherlands N.V are not considered related parties.