10 years of national grid management. Full power ahead for TenneT

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1 10 years of national grid management Full power ahead for TenneT Annual Report 2008

2 10 years of national grid management 24-hour energy looking ahead

3 Full power ahead for TenneT 14 > 84 Four public figures and day-to-day practice 30 / 54 / 72 / 94 Annual Report 2008 Connecting to the future 94 Jaarverslag 2008 / Titel hoofdstuk 1

4 Introduction Ten years of national grid management Full power ahead for TenneT For ten years now, TenneT has been working to ensure a strong and stable national electricity grid. During that period issues like increasing internationalisation, ongoing integration of energy markets, continued infrastructural expansion, rising demand for sustainable energy, and grid innovation have set out the course for TenneT. Together these developments have created the dynamic, fast-paced environment in which TenneT now operates. This has prompted us to choose Full power ahead as the theme of this year s Annual Report. Since its establishment in 1998, TenneT has developed from a lean and mean grid company into a versatile organisation undertaking a wide range of activities and projects on the national and international stage. Cases in point include the establishment of the TenneT subsidiary CertiQ for the management of green electricity certificates, the development of trilateral market coupling with Belgium and France, and growing interconnection with other electricity markets, with the completion of the NorNed cable as the latest milestone. TenneT is also actively involved in several European initiatives, such as the development of offshore wind farms and the realisation of an integrated energy market for north-western Europe, including closer collaboration with Germany. What connects these wide-ranging themes and developments is their ultimate goal: a reliable supply of electricity, 24 hours a day. Society depends on electricity and demand for it continues to rise. It is TenneT s challenge to keep meeting that demand. TenneT: full of energy for everyone. This year s theme of Full power ahead is expressed in three lines that run through the Annual Report: - the development of TenneT s national grid management activities over the past ten years; - the vision of several prominent individuals on the theme of 24-hour energy ; - a timeline of future developments in the energy supply sector.

5 The Dutch transmission grid As at March 2009 Electricity transmission grid of TenneT TSO B.V. 380 kv substation / overhead connection / cable 220 kv substation / overhead connection / cable 150 kv substation / overhead connection / cable Cross-border interconnection Feda (Norway) Eemshaven-Norway Subsea cable to Feda (Norway) BritNed project subsea cable Randstad 380 kv project ( underground) (section under development) North-West 380 kv project (route under investigation) South-West 380 kv project (route under investigation) 380 kv connection Doetinchem-Wesel (route under investigation) 220 kv connection Vierverlaten-Zwolle Meeden-Germany TenneT head office / National Control Centre TenneT regional office Name of substation Electricity transmission grid of regional grid operators 150 kv substation / overhead connection / cable 110 kv substation / overhead connection / cable Power plants Capacity between 40 and 250 MW Capacity of more than 250 MW Imports and exports per cross-border interconnection Aggregate for the Netherlands Imports (GWh) Exports (GWh) Hengelo-Germany Isle of Grain (United Kingdom) Wesel (Germany) Maasbracht-Belgium Maasbracht-Germany Borssele/ Geertruidenberg- Belgium Annual Report 2008 / Full power ahead for TenneT 3

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7 Contents Introduction The Dutch transmission grid Profile Key Figures Review of 2008 Report by the Board of Management Corporate Governance Neelie Kroes on international cooperation Report by the Supervisory Board Financial Results Willem Vermeend on investments Corporate Social Responsibility Security, Crisis Management and Safety Wubbo Ockels on sustainability Personnel and Organisation Projects Mel Kroon on innovation Organisation Financial Statements of TenneT Holding B.V Annual Report 2008 / Contents 5

8 Profile Full of energy for everyone Our mission TenneT is an important facilitator in the liberalised energy market. With its high-quality transmission grid and customised approach, TenneT offers and develops a comprehensive range of transmission and system services, while also supplying services in support of free-market operation and a sustainable energy supply system. TenneT contributes to the efficient operation of the Dutch electricity market by investing both nationally and internationally in the establishment of a north-west European electricity market. TenneT also strives to facilitate the transition to a sustainable society. Based on our core values of quality and integrity, TenneT aims to provide its stakeholders with the following: Society - efficient, high-quality transmission and system services at reasonable prices; - a leading contribution to the realisation of a single, integrated energy market in northwestern Europe; - services that enhance the environmental quality of energy supplies; - services for other infrastructure systems for the purpose of realising synergy. Customers - a service offering with an excellent price/quality ratio; - non-discriminatory access of all parties to TenneT s 110 kv, 150 kv, 220 kv and 380 kv transmission grids. Shareholder - an adequate return on invested capital in line with the company s risk profile. Employees - an attractive working environment; - a competitive benefits package appropriate to the employee s position and responsibilities; - good prospects for personal growth and career advancement. 6

9 Our vision TenneT wishes to develop further in the Dutch and north-west European market in order to continue strengthening its position in that market. This ambition fits into the Strengthen and Build strategy that TenneT has adopted against the backdrop of international market conditions. As a Transmission System Operator (TSO), TenneT wants to play an active role in strengthening the European electricity market, based on an international vision in which the company shows initiative and takes specific steps together with other TSOs, regulatory bodies and government authorities. Integrating the electricity markets of the various countries is the best way to create a strong European market characterised by transparency, sufficient liquidity and good pricing. The ultimate goal is to establish a single market area in north-western Europe in which TSOs will resolve congestion and market parties will not face restrictions. This market area will have a common system for balancing supply and demand, thus creating the uniformity that market parties need in order to cover their risks. Our ambition It is our ambition to further develop the national transmission grid of 110 kv and higher, and to safeguard its quality. After all, the transmission grid is the backbone of the Dutch electricity supply system. In accordance with the Independent Grid Administration Act, TenneT has been in charge of managing all high-voltage grids with a voltage level of 110 kv and higher as of 1 January TenneT hopes eventually to secure ownership of these grids. In the meantime we are investing heavily in existing and new grid infrastructure. We are working to develop several new connections, both within the Netherlands and across national borders. Besides subsea cable links to the UK and Denmark, we are also constructing a fourth interconnection between the Netherlands and Germany. Within the Netherlands, new high-voltage lines are being realised in the north and south-west of the country and in the Randstad conurbation, with a view to the further development of the energy sector. TenneT makes every effort to ensure optimum quality across the board, supplying its customers as efficiently and professionally as possible with products and services. Where relevant and possible, we also develop and market new products and services. Annual Report 2008 / Full of energy for everyone 7

10 Key Figures Financial data (in millions of euros) Turnover Operating result (EBIT) Net profit after taxes Tangible fixed assets Equity Balance sheet total Average number of staff (FTEs) Ratios Equity to capital Return on average equity Interest cover ratio Loans and credit facilities / EBITDA Technical data Circuit length +/-450 kv DC (in km) Circuit length 380 kv (in km) Circuit length 220 kv (in km) Circuit length 150 kv (in km) Circuit length 150 kv (in km)* Circuit length 110 kv (in km)* No. of 380 kv substations No. of 220 kv substations No. of 150 kv substations No. of 150 kv substations* No. of 110 kv substations* Imports (GWh) Exports (GWh) Failures in 380/220 kv grid Interruptions in 380/220 kv grid Energy not supplied (MWh) 380/220 kv grid Failures in 110/150 kv grid Interruptions in 110/150 kv grid Energy not supplied (MWh) 110/150 kv grid 8

11 ) 2004 IFRS IFRS IFRS IFRS IFRS , , , , , , , , , , ) The profit figure was significantly influenced by several provisional and final agreements concluded with the Dutch tax authorities concerning the fiscal opening balance sheet. 2) Balance sheet total excluding assets not at free disposal, accounts receivable and accounts payable in connection with energy exchange transactions, and investment contributions received in advance. 3) This concerns the HVDC connection from Eemshaven (Netherlands) to Feda (Norway). The total length of this 46.1 % 8.0 % % 8.7 % % 7.9 % % 16.5 % % 12.3 % cable link is 580 km; 290 is owned by TenneT and the other 290 km is owned by the Norwegian TSO Statnett. 4) The difference in circuit lengths compared to previous annual reports is due to a more accurate measuring method. 5) This concerns grids brought under TenneT s management in accordance with the Independent Grid 290 3) 6) 2, ) 3,229 5) 1,955 6) ) 115 5) 79 24,967 9, ) ) 27 11) 6 11) 88 2,031 4) 653 4) 532 4) ,139 5, , ,346 5, ) , ,691 5,398 8) , ,405 5, Administration Act, which transferred responsibility for the management of all grids of 110 kv and higher to TenneT. The data excludes customer substations, the grids operated by Stedin, and the grids operated by Liander (which are subject to Cross Border Lease agreements). 6) Including the new EDC380 converter station and its one-kilometre stretch of 380 kv line (EDC-EEM380). 7) These failures did not always result in an interruption of the electricity supply. 8) Twenty failures occurred in one day due to line galloping. 9) As a result of a failure in a terminal box at the Maasvlakte site. 10) The failure of a surge diverter in the neutral point (150 kv) of a 380/150 kv interstage phase shifter at the 380 kv substation in Eindhoven resulted in an automatic switch-off of the 150 kv substations at Woensdrecht and Bergen op Zoom when lightning struck in the province of Zeeland (the energy that was not supplied amounted to 189 MWh). 11) The increase in the absolute number of failures and interruptions is explained by the increase in the total circuit length and the greater number of substations managed by TenneT. * Newly brought under TenneT s management Disclaimer: The technical data for 2008 were compiled on the basis of TenneT s own data and information supplied by the regional grid operators whose high-voltage grids (110 kv and higher) are managed by TenneT. Annual Report 2008 / Key Figures 9

12 Review of 2008 January February March Expansion of the grids On 1 January 2008 TenneT was made legally responsible for managing all high-voltage grids of 110 kilovolts (kv) or more. This concerned the grids previously managed by Liander, Enexis and Delta Netwerkbedrijf. The regional grid operators are transferring their management activities and customer contacts for these grids to TenneT. This expansion takes the number of grid management, maintenance and upgrade projects from 80 to more than 300. Peak load on 22 January 2008 The peak load on the Dutch highvoltage grid in 2008 was measured at 6.00 p.m. on 22 January, as shown in the annual data published in the Transmission on Balance report. At that point in time the total electricity demand on the grid amounted to 13,957 megawatts (MW). The peak load usually occurs on a winter s day between 5.30 and 6.00 p.m., when intensive use is being made of central heating and domestic and street lighting all over the country. Enlargement of the Board of Management On 1 February 2008 TenneT expanded its two-member Board of Management to include a Chief Financial Officer. Willem Keus joined CEO Mel Kroon (Chairman) and Chief Operating Officer Ben Voorhorst on the Board of Management as a registered director. It was considered necessary to enlarge the Board of Management to cope with the company s growth and the increase in the number of activities. Agreement between Fluxys, Gasunie and TenneT An agreement between Fluxys, Nederlandse Gasunie and TenneT Holding was signed in March, giving Fluxys a 2.68% stake in the electricity and gas exchange APX (APX Group). Later in the year this stake was increased to 4%. The reason for this collaboration was the APX Group s ambition to become a leading player in the European gas market. Fluxys is a key partner in this endeavour. Interruption in the electricity supply near Maastricht Just before noon on 15 January, the ground wire of the 110 kv high-voltage line running from Limmel to Beek (near Maastricht) became detached, causing the line to sag over the A79 motorway. The problem was resolved before the evening rush-hour, and the supply of electricity to the region was not affected by the incident. TenneT s performance in 2008 was excellent; no disruptions in the 220/380 kv grid and only two minor ones in the 150 kv grid. 10

13 April May June Wintrack design TenneT launched the Wintrack pylon, a high-voltage tower with greatly reduced magnetic field intensity compared to existing lines. Developed in collaboration with KEMA, the first of these innovative pylons will be erected in the Randstad conurbation in Your Energy Is TenneT s Strength An ambitious recruitment campaign featuring the slogan Your Energy Is TenneT s Strength was launched in May. TenneT was seeking to recruit about 200 new people and created a dedicated website, for this purpose. We also brought in an enthusiastic team for the recruitment and selection. Within a short space of time, a large number of candidates applied. The fact that our own employees played a central role in the campaign proved to be particularly appealing. NorNed cable goes live An historic moment for TenneT and the Norwegian TSO Statnett as the world s longest subsea electricity cable went live. The cable is an out-and-out success right from the start and earned approx. 110 million euros in TenneT looks ahead to 2030 The expected increase in sustainable energy production, the rapid rise in the number of production plants on the coast and the potential turnaround from a net importer to a net exporter of electricity mean that the Dutch high-voltage grid will have to undergo major changes in the years to come, according to the Quality and Capacity Plan , which was published in May along with the Vision2030 document. Construction of 380 kv underground line In May the Minister of Economic Affairs took a major decision in the Randstad 380 kv project. More than 20 kilometres of the new line through the Randstad conurbation is to be laid underground. Thus the Netherlands became a world leader in the innovative construction of high-voltage lines, this being the first 380 kv connection to be laid over such a long distance underground anywhere in the world. Covenant signed with Wateringse Veld residents A new high-voltage substation was planned near the Wateringse Veld residential district in The Hague. TenneT signed a covenant with the municipality and the residents association, agreeing a number of changes to the original plan. The substation will be built at the same location, but will be integrated differently into the surroundings. TenneT was thus able to meet the needs of local residents who promised to abandon any further procedures. Wall socket at sea The Cabinet is convinced: offshore wind farms are the wave of the future. Member of the Lower House Diederik Samsom tabled a motion tasking TenneT with the connection of offshore wind farms to the national grid. Having acquired the necessary offshore experience, TenneT set the preparations in motion. The ultimate target: 6,000 MW of new capacity by Annual Report 2008 / Review of

14 Review of 2008 July August September Announcement of collaboration with RWE TenneT agreed to set up a joint security centre in collaboration with RWE Transportnetz Strom, one of the operators of the German high-voltage grid. This centre would offer TenneT and RWE a venue for performing joint calculations and analyses based on information from each other and from the market, enabling them to apply better safety calculations to the grid, and detect and prevent any potential overload situations in good time. Plans for a new subsea cable Following the success of the NorNed cable, TenneT announced plans to carry out a feasibility study for another subsea cable. This time it would investigate the possibility of a link between the Netherlands and Denmark: the COBRA cable. Denmark generates a large amount of wind energy. APX Group and Endex join forces The electricity and gas exchanges APX Group and Endex signed a deal aimed at strengthening their positions in the wave of mergers taking place in the European wholesale energy market. This will result in new additional activities for the main shareholders in the APX Group, TenneT (70.06%) and Gasunie (26.1%), and will give the State of the Netherlands, shareholder in both TenneT and Gasunie, greater influence in the European energy trading sector. Official opening of NorNed cable On 11 September the NorNed cable was officially opened simultaneously in the Netherlands and Norway. Minister of Economic Affairs Maria van der Hoeven officiated at the opening. We made the Guinness Book of World Records for the longest subsea electricity cable in the world. 12

15 October November December CASC-CWE set up The European Commission gave the green light for a joint company made up of the Belgian, French, German, Luxembourg and Dutch national grid operators (TSOs). CASC-CWE (Capacity Allocation Service Company for the Central Western European Electricity Market) will provide cross-border services a significant step towards the integration of the five national electricity markets into a single regional electricity market for Central Western Europe. Exports In October the Netherlands achieved net exports of 1,800 MW during peak hours. With European pricing, the production system in the Netherlands has the perfect incentive for higher production and export levels. The Netherlands is set to become the energy hub of Europe. Workforce expands TenneT took over 141 employees from Essent Netwerk (now Enexis) in accordance with the operating agreements concluded for the 110 kv and 150 kv grids. The new staff took up positions in TenneT s new regional offices in Hoogeveen and Weert. NOVEC buys telecommunication towers Another successful purchase for NOVEC: 40 telecommunication towers and 13 roof installations from Dutch Tower. NOVEC took over 101 former Telfort towers from KPN earlier this year. The purchase enables NOVEC to further strengthen its position as an independent infrastructure provider for the distribution of telecommunication and broadcasting signals, and brought its total number of tower sites for mobile telecommunication and broadcasting signals in the Netherlands to 684. Congestion management system introduced in Westland region It took months of hard work for TenneT, the energy suppliers and regional grid operator Westland Infra. But they succeeded in designing and implementing a congestion management system in a short space of time, enabling horticulture businesses to connect to the grid and participate in the free market, pending the planned capacity expansion. The first horticultural businesses signed a contract for participation in the congestion management system in December. Award In December TenneT won an award for its website www. werkenbijtennet.nl. After examining the recruitment websites of 350 companies, the expert jury from Digitaal-Werven. nl judged it the Best Online Job Application Experience. TenneT also achieved its target of recruiting 200 new staff members. EnerQ operations transferred to SenterNovem Despite its successful operations, the government decided that the activities of TenneT subsidiary EnerQ should be transferred to SenterNovem by the end of The government is committed to the one-stop shop approach and is therefore transferring as many activities as possible to SenterNovem (an agency of the Ministry of Economic Affairs). Most of the EnerQ workforce was able to be transferred to other parts of the TenneT Group. Annual Report 2008 / Review of

16 New Electricity Act The new Electricity Act 1998 comes into force and provides a basis for the unbundling of grid management activities on the one hand, and supply and production activities on the other. The new Act offers fresh perspectives for the phased liberalisation of the electricity market initially for industrial users and ultimately for domestic consumers. 10 years of national grid management July 1998 Report by the Board of Management Investments require forward-looking approach TenneT celebrated its tenth anniversary in October This milestone presents an excellent opportunity to look back on what the company has achieved in the past ten years, but above all to look into the future. We see a changing energy landscape emerging. There will be further internationalisation, market integration, a transition to a sustainable energy system and more local production of electricity subjects that will become increasingly dominant in the coming years. These dynamics require a strong and flexible grid infrastructure. For TenneT as a Transmission System Operator (TSO) these developments will have major consequences. In terms of development of the national transmission grid they call for a long-term vision that goes beyond our biennial Quality and Capacity Plan. In the year under review, TenneT therefore published not only its expectations for the period, but also its Vision2030 document, which presents a robust picture of the future of the 380 kv and 220 kv grids in line with four possible scenarios for the future of energy supplies. We are also working from a national perspective on a vision of the future for the 110 kv and 150 kv grids that TenneT began managing in January TenneT s vision is built on a strong foundation. Since 1998, TenneT has been able to acquire a central role in an increasingly liberalised European electricity market. We are synonymous with a strong infrastructure that has sufficient transmission capacity and we maintain the necessary energy balance across the entire electricity supply system. Part of our vision is that the market must have maximum freedom to operate. With this in mind we set appropriate rules. Over the past ten years TenneT has performed extensive pioneering work and taken important steps in this area. They include setting up auctions, an imbalance market and a trilateral market coupling system, and working towards a level playing field. looking ahead TenneT is charged with the responsibility of ensuring an affordable, reliable and clean energy supply. In the past ten years we have succeeded in maintaining the security of supply at a high level in return for low tariffs. We wish to maintain this leading position in Europe. To what extent the surging global financial crisis in 2008 will have a knock-on effect in the European electricity market is impossible to foresee at present. One of the questions facing TenneT is whether the crisis will necessitate revising decisions to invest in new production capacity. Another important question is whether a prolonged economic recession will lead to structurally lower electricity consumption in the long term, although the already initiated transition to a sustainable energy supply will generally be accompanied by greater 14

17 Ground rules for the energy market The ground rules for the electricity market are formulated in Grid, Metering, System and Tariff Codes. The tariff structure and ground rules are defined by the Office of Energy Regulation. August 1998 Full power ahead for TenneT electricity consumption and a significantly larger demand for transmission capacity. Fossil fuels will gradually be replaced by sustainable sources of energy (wind, water and biomass) and the use of electrical transportation will continue to increase. In talks with the government TenneT has indicated its willingness to bring forward certain planned grid investments so as to help counter the economic crisis. It is possible to accelerate these projects for strengthening the electricity infrastructure (valued at EUR 150 million), provided that the necessary licensing procedures are in place and we obtain the consent of the Office of Energy Regulation. New regulatory framework needed The Electricity Act 1998 and the pursuant regulatory framework require TenneT to perform its statutory transmission duty effectively. The strong focus on cost control has proved its usefulness over the past years: Dutch households pay relatively little for a high degree of security of supply. But with the major changes planned in the energy market this regulatory framework is beginning to exert a squeeze. Over the coming period TenneT will spend hundreds of millions of euros on upgrading and expanding the high-voltage grid. This is necessary because of the expected increase in the transmission of electricity. Factors that play an important role include the growth in sustainable energy production, plans for large new power stations and the projected expansion of interconnection capacity. What challenge does this pose? On the one hand, the regulatory framework provides an incentive for short-term effectiveness and cost efficiency. TenneT was recently instructed to save 2.1% year-on-year up to 2010, for example. In TenneT s view, the regulatory framework disregards the wish of customers for a high degree of security of supply (which requires expansion of connection and transmission capacity), sustainability (i.e. the transition to a clean energy supply) and modernisation. The present regulatory framework also creates negative incentives for long-term investments. Under the present regulatory system the grid administrator is denied prior certainty as to whether it will earn back its investments, while TenneT is also being docked on the capital costs of investments already made. If this situation continues over several regulatory periods, TenneT will be unable to earn back its earlier investments, let alone achieve the return deemed reasonable on its investments. This is counterproductive given the major challenges facing TenneT. Mel Kroon The Vision2030 document presents a robust picture of the future of the 380 kv and 220 kv grids in line with four possible scenarios for the future of energy supplies. The investment climate would improve significantly for TenneT if lawmakers were to give the company greater prior certainty regarding its ability to earn back investments. It is Annual Report 2008 / Report by the Board of Management 15

18 TenneT established The establishment of TenneT becomes a reality in October TenneT is now the official administrator of the Dutch national high-voltage grid. TenneT operates as an independent company in full compliance with the provisions of the Electricity Act years of national grid management October 1998 also important for the effectiveness of investments to be scrutinised once-only instead of several times as now happens. It would be beneficial for the division of roles between the Ministry of Economic Affairs and the Office of Energy Regulation to be defined more clearly. We take the view that the ministry should determine beforehand the usefulness of and need for investments. The Office of Energy Regulation is the supervisory body that checks TenneT s investments against predefined efficiency criteria. These investments are essential to be able to continue meeting the growing demand for transmission capacity in the years ahead and, at the same time, to go on assuring the Dutch standard of security of supply. Major changes Dutch consumers and producers benefit from the internationalisation of the electricity grid, as does the economy as a whole. Internationalisation ensures a stronger market and greater security of supply. The NorNed cable between the Netherlands and Norway, an initiative of TenneT and the Norwegian TSO Statnett, went into service in May This submarine electricity cable, the world s longest, produced turnover of EUR 110 million in 2008 alone. So the return on the investment to date has been higher than estimated and it appears likely that the investment will be earned back quickly. Security of supply has increased for Norway and the Netherlands and spot market prices appear to be more stable and exhibit less pronounced peaks. The cable exerts an abating effect, notably at times of highly fluctuating energy prices as in the past six months. Moreover, NorNed has contributed positively to the reduction of CO2 emissions. For more than 80% of the time electricity was generated using hydropower imported from Norway. TenneT is to invest hundreds of millions of euros in upgrading and expanding the high-voltage grid over the next few years. looking ahead The European electricity market will integrate further in the coming years. Market integration ensures efficient trading. That is why TenneT committed to market coupling with France and Belgium as a first step. This Trilateral Market Coupling (TLC) began in 2006, with cooperation between the energy exchanges APX, Belpex and Powernext and the national grid administrators Elia (Belgium), RTE (France) and TenneT. This coupling will improve international spot trading, thus enhancing the resilience of each individual market, making it possible to absorb and reduce local price fluctuations in the short term. Thanks to these efforts the electricity prices in 2008 in the Netherlands, Belgium and France were the same 70% of the time. There has also been a drastic narrowing of the electricity price differential between the Netherlands and Germany. In the meantime additional steps have been taken towards the further integration of the electricity market in this region, known as the Central Western European (CWE) Electricity Market, in line with European objectives. The common auctioning of yearly and monthly capacity at the borders between France, Belgium, the Netherlands and Germany was started at year-end 2008 by CASC-CWE (Capacity Allocation Service Company for the Central Western European Electricity Market), an enterprise jointly owned by the TSOs concerned. 16

19 Introduction of Programme Responsibility The introduction of programme responsibility allows market parties to incorporate their planned physical transactions into programmes and announce them to the grid operator in advance The Netherlands is developing from an importer to an exporter of electricity. The pace of development will depend on how fast the plans announced for new power stations on the Dutch coast can be carried out. For producers the Netherlands is an attractive location for generating electricity for the European market. This is due to the excellent possibilities for shipping in fuels, the presence of cooling water and the quality of the transmission grid. Local generation capacity has also increased substantially and has the potential to continue doing so in the coming years. The realisation of new production units contributes to the further security of supply and the development of the Dutch economy. In the coming years TenneT will connect these producers to the national grid. The most recent Security of Supply Monitoring Report shows that the Netherlands may assume an exporting role in 2009, partly because of the sharp increase of production in our country. At a number of times in 2008 the Netherlands was already performing this export role during peak hours. This shows that the north-west European market is continuing to develop. The government continues to pursue sustainability, among other things through the construction of wind farms in the North Sea. The Cabinet intends to increase offshore wind capacity to 6000 megawatts (MW) by TenneT wants to connect these offshore wind farms efficiently to the transmission grid. This is also the wish of the Lower House of Parliament, as laid down in a motion in This widely supported motion will be embedded in legislation in To promote market forces TenneT will continue to invest in connections with other countries if the social cost-benefit analysis produces a positive outcome. In 2009 we expect to learn the outcomes of feasibility studies into a second NorNed connection and a proposed submarine electricity cable connecting the Netherlands to Denmark a country with a large wind energy capacity. We will also step up cooperation with German TSOs. The large German electricity market has always been important to the Netherlands and the German energy companies are going to hive off their network divisions after years of discussion with the European Commission. We consider independent grid management to be pivotal to market integration, as has been borne out convincingly by developments in the Netherlands. The Netherlands is developing from an importer to an exporter of electricity. These developments in Germany open up prospects for further cooperation with German TSOs, enabling the strengthening of grids and markets both in the Netherlands and in Germany. Together with RWE Transportnetz Strom, TenneT is studying the effects of a fourth connection with the German market by means of a high-voltage connection between Doetinchem in the Netherlands and Wesel in Germany. E.ON Netz is upgrading the connection between Meeden and the German grid in Diele. Cooperation has also been established in the field of security and monitoring: in 2008 TenneT and RWE Transportnetz Strom set up a joint security centre. The objective is to use joint security calculations to limit the risk of overloading the grid on each side of the border. This marks the beginning of cooperation with German TSOs in more fields. In 2008 twelve TSOs agreed to set up a Annual Report 2008 / Report by the Board of Management 17

20 Expansion of Randstad grid The first plans for expanding the grid in the Randstad conurbation are drawn up. Expansion is unavoidable due to the increase in electricity consumption in the region. A new connection in a loop structure from Diemen to Oostzaan and from Beverwijk to Zoetermeer is to be built. 10 years of national grid management February 2000 joint IT platform on which grid security will play a central role. What s more, an intraday platform became operational in 2008, with the aim of using the residual capacity still available on interconnectors for daily trading between the Netherlands and Germany. Innovation above and below ground The construction of new transmission connections increasingly prompts the question of whether they can be realised below ground. This is the wish of a public that is unenthusiastic about high-voltage pylons dominating the landscape. The 380 kv grid is fast becoming a grid for very large transmissions subject to stringent availability and controllability requirements. On account of the system risks TenneT has provisionally decided to install above ground the high-capacity transmission connections in the national 380 kv grid. But given the wishes of the public we quickly want to gain more experience with underground cable construction. The realisation of the Randstad 380 kv connection offers a possibility to obtain such experience. A total of 20 kilometres of 380 kv dualcircuit connections will be cabled, divided in a South and North section. Overnight this will elevate the Netherlands to the position of a world leader in the underground construction of 380 kv transmission connections. This represents an important innovation that may provide a stimulus for placing high-voltage grids below ground. Together with Delft University of Technology and international partners, TenneT is drawing up a monitoring programme so as to track the behaviour of the system and to learn from the experience thus gained. The Netherlands is set to become a world leader in underground 380 kv transmission grids by laying more than 20 kilometres of dual-circuit cables. looking ahead In 2008 the Dutch cabinet suggested placing a cap on the total number of kilometres of above-ground high-voltage lines. The Cabinet wants to include this cap in the Third Electricity Supply Structure Plan (SEV III) that is now on the parliamentary agenda. This means that for every new kilometre of above-ground line, the same length of high-voltage line must be installed below ground or combined with an existing high-voltage line. Compared with 220 kv or 380 kv connections, it is technically less complicated and far cheaper to install 110 kv or 150 kv lines below ground. TenneT preferably does this where it is relevant and efficient to do so, as in the case of difficult intersections with waterways, in the proximity of built-up areas and in areas of exceptional ecological value. In situations where the only option is to install lines above ground, TenneT will in the near future in principle use a new type of high-voltage pylon called Wintrack. The innovation lies in the considerable reduction of the magnetic field zone, thus significantly decreasing the utilisation of available space and leaving more space available for building. Main grid is already smart Besides large-scale renewable power generation as with offshore wind farms and imported hydropower there is also a trend towards small-scale local production. Over the past years there has been an explosive growth in the use of combined heat and power units (CHPs) by parties such as horticulture businesses in the Westland region. Capacity there quadrupled from 150 MW in 2004 to more than 600 MW in 2008, while the local demand for electricity did not increase. This growth, combined with the introduction of 18

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