NL

Financial information

EBN is a private limited company with the Dutch State as its sole shareholder. This page provides access to our financial information.

Key figures

Investments in 2025 EUR 400 million Annual report 2025
Net result for 2025 EUR -190 million Annual report 2025
Moody's credit rating Aaa/P-1, stable Moody's Ratings, februari '25

Financing and credit rating

To meet its long-term funding requirements, EBN has excellent access to the capital markets. EBN also maintains a very strong liquidity position. Should a short-term funding need arise, EBN has reliable access to the money markets through its €2 billion commercial paper programme. In addition, EBN has a €300 million committed long-term bank facility provided by a group of leading banks.

EBN’s current Moody’s credit rating is Aaa / P-1 Stable (last updated on 5 February 2025). This strong credit rating provides a solid foundation for excellent access to both the capital and money markets.

Shares and shareholder

EBN is a private limited company with the Dutch State as its sole shareholder. EBN’s issued and fully paid-up share capital amounts to EUR 128,137,500 and is divided into 284,750 ordinary shares with a nominal value of EUR 450 per share.

Tax strategy

EBN’s tax strategy sets out the principles and framework that guide our tax policy and the way we manage our tax positions. Integrity, transparency and social responsibility are at the core of this approach. By publishing our tax strategy, we provide insight into our perspective on taxation and contribute to trust in society.

EBN and REMIT

Regulation (EU) No 1227/2012 on the wholesale energy market integrity and transparency (commonly known as ‘REMIT’) came into effect on 28 December 2011. This regulation prohibits insider dealing and market manipulation (market abuse) on the wholesale markets for electricity and gas.

The regulation aims to create a harmonised framework to ensure the transparency and integrity of the EU wholesale energy markets. Given how interconnected wholesale energy markets are, these are regulated at EU level. The wholesale energy markets are supervised by the Agency for the Cooperation of Energy Regulators (ACER) together with the national regulators, in this case the Netherlands Authority for Consumers and Markets (ACM).

REMIT applies to ‘wholesale energy products’, including, but not limited to, contracts for the supply and transmission of electricity or natural gas traded or delivered within the European Union, and to the market participants who carry out such transactions. These market participants include producers, suppliers, traders and large customers, as well as system operators (TSOs, DSOs, LSOs and SSOs). In the Netherlands, market participants must:

  1. Register with ACM
  2. Report energy transactions to ACER
  3. Disclose any inside information they hold.

Yes. EBN is a market participant and has therefore registered accordingly. EBN reports energy transactions through so-called Registered Reporting Mechanisms (RRMs). With regard to the disclosure of inside information, EBN recognises that the definition of inside information is not always clear-cut and that, in many cases, such information becomes available earlier to its cooperation partners, particularly operators.