Note 11 Cash and cash equivalents

€ million

2024

2023

Cash held at banks

38

87

Deposits

458

157

     

Carrying amount as at 31 December

496

244

The effective interest rate on cash and cash equivalents ranged from 2.9% to 4.0% (2023: 0.0% to 4.3%). Cash and cash equivalents are held almost entirely in euros. In 2024, the cash and cash equivalents included amounts that were not at the unrestricted disposal of Alliander. This concerns a blocked bank account with a balance of €0.4 million (2023: €0.4 million).