Note 21 Revenue

At €3,043 million, net revenue in 2024 was up by €318 million compared to 2023. This was mainly attributable to the €397 million rise in regulated electricity revenue. Tariffs were increased as the rise in transmission capacity purchasing costs at TenneT was passed on. There was also an increase in the number of low-volume connections (€10 million increase in revenue) and in the transmission volumes for high-volume connections, leading to a €18 million increase in revenue.

Regulated gas revenue remained steady despite the smaller number of connections. Revenue from metering services and revenue from other products were lower than in 2023 due to the sale of the Kenter activities.

Net revenue for 2024 included €37 million in estimated network fees for high-volume consumers (2023: €30 million), which is 1.4% (2023: 1.3%) of total network fee revenue. Estimates made in relation to low-volume consumers are not material. Differences arising on these unbilled revenues are generally small. The estimated revenue concerns the month of December and is largely based on the revenues earned in November.