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
9. Accounts receivable in connection with energy exchange transactions
The accounts receivable in connection with energy exchange transactions (2008: EUR 223.3 million, 2007: EUR 144.2 million) relate to transactions effected by APX Commodities Ltd. Such transactions involve the contract-based sale and purchase of energy and give rise to corresponding receivables and liabilities, which are cleared approximately one month after the month in which the transaction took place. The receivables are underpinned by a system of securities comprising bank guarantees and collaterals. The credit risk is fairly concentrated, since 59% of the receivables are owed by just five traders (2007: 36%). All the receivables were settled in February 2009. |