Annual Report 2008
TenneT
- Consolidated balance sheet at 31 December 2008
- Consolidated profit-and-loss account for the year 2008
- Statement of changes in equity for the year 2008
- Consolidated cash flow statement for the year 2008
- General notes
- Notes to the consolidated balance sheet at 31 December 2008
- 1. Tangible fixed assets
- 2. Intangible assets
- 3. Participating interests
- 4. Financial assets
- 5. Deferred tax assets
- 6. Other receivables
- 7. Inventory
- 8. Accounts receivable and other receivables
- 9. Accounts receivable in connection with energy exchange transactions
- 10. Derivative financial instruments
- 11. Cash and cash equivalents
- 12. Non-current assets available for sale
- 13. Equity
- 14. Loans
- 15. Investment contributions
- 16. Auction receipts
- 17. Provisions
- 18. Derivative financial instruments
- 19. Deferred tax liabilities
- 20. Amounts received in advance
- 21. Bank overdrafts
- 22. Accounts payable in connection with energy exchange transactions
- 23. Securities
- 24. Accounts payable and other liabilities
- Notes to the consolidated profit-and-loss account for the year 2008
- 25. Revenue
- 26. Energy and capacity expenses
- 27. Transmission grid and system expenses
- 28. Personnel expenses
- 29. Depreciation and amortisation of assets
- 30. Other operating expenses
- 31. Finance income and expenses
- 32. Corporation tax
- 33. Profit from participating interests
- 34. Off-balance sheet rights and obligations
- 35. Events after the balance sheet date
- 36. Acquisitions
- 37. Cash flow statement
- Company balance sheet at 31 December 2008
- Company profit-and-loss account for the year 2008
- Statement of changes in equity for the year 2008
- Notes to the company balance sheet and profit-and-loss account for the year 2008
- 38. Principles governing the valuation of assets and liabilities and the determination of results
- 39. Investments in group companies
- 40. Minority participating interests
- 41. Derivative financial instruments
- 42. Receivables from group companies
- 43. Equity
- 44. Loans
- 45. Bank overdrafts
- 46. Liabilities payable to group companies
- 47. Share in the results of participating interests
- 48. Affiliated entities
- Other information
- Auditor’s report
3. Participating interests
This item relates to TenneT's participating interest in Holding des Gestionnaires de Réseaux de Transport d'Electricité S.A.S. (HGRT). The movement in this item was as follows: |
|
( x EUR 1,000 ) |
2008 |
2007 |
|
|
From minority participating interests |
11,301 |
- |
|
|
Movement in value |
478 |
- |
|
|
Balance at 31 December |
11,779 |
- |
|
|
|
|
Holding des Gestionnaires de Réseaux de Transport d’Electricité S.A.S. (HGRT) holds shares in Powernext S.A.,
a French electricity exchange. In 2008, HGRT increased its stake in Powernext to 52.2%. TenneT TSO has a 24.5% holding in HGRT and thus indirectly a 12.8% holding in Powernext S.A.
The value of TenneT’s stake in HGRT has been calculated in accordance with the equity method. In 2007, HGRT was stated at fair value and included in the accounts as a minority participating interest.