Note 32 Related parties

As holder of 45% of the shares in Alliander, the Province of Gelderland has significant influence over the company, qualifying the province as a related party. At year-end 2023, the remaining shares were held by 73 shareholders, none of whom are related parties. For a complete list of our shareholders, please see https://www.alliander.com/nl/over-alliander/corporate-governance/aandeelhouders/.

The Alliander group has interests in various associates and joint ventures over which it has significant influence but not control or has joint control of operations and financial policy. Transactions with these parties, some of which are significant, are executed on market terms and at market prices that are not more favourable than those that would be negotiated with independent third parties. These associates and joint ventures are consequently designated as related parties.

The following transactions were entered into with related parties for the purchase and sale of goods and services:

Related party transactions

The transactions involving the Province of Gelderland are not included in these disclosures, owing to the exemption applicable in the case of related parties that are public authorities (IAS24, paragraph 25). As part of the issue of the convertible shareholders loan, a transaction took place with the Province of Gelderland. There were no material transactions with individuals who qualify as related parties. For disclosures relating to the remuneration of the members of the Management Board, who do qualify as related parties, please refer to note 24.

The following transactions were entered into with related parties for the purchase and sale of goods and services: sale of goods and services to associates at a value of €0 million (2022: €0 million) and to joint ventures at a value of €141 million (2022: €118 million); purchase of goods and services from associates at a value of €38 million (2022: €34 million) and from joint ventures at a value of €244 million (2022: €199 million). As at year-end 2023, Alliander had a receivable of €26 million (2022: €27 million) for loans granted to related parties, a liability of €16 million (2022: receivable of €24 million) in respect of agreed borrowings on current accounts with related parties and a non-current interest-bearing liability of €270 million (2022: €270 million) in connection with the issue of the convertible shareholder loan in 2021.