energy
High-voltage grid operator Elia achieved just under 400 million euros in net profit last year. The investments in the American energyRe Giga in particular explain the lower result.
With a net profit of 399.5 million euros, Elia fell just below the 400 million mark and recorded a lower net result than last year (408.2 million). At the end of last year, Elia took a 35 percent stake in energyRe Giga, an American company specialized in sustainable energy. The purchase weighs on the result. Without their effects, the return on equity is 7.14 percent.
Almost 2.4 billion euros were invested, mainly in Belgium and Germany, causing the value of total investments to increase by 12.4 percent to 12.2 billion euros. That is the regulated amount on which the compensation for Elia, which has a monopoly on high voltage, is calculated. In Belgium, Elia Transmission achieved a return on equity of 6.2 percent. Regulated profit rose to 180.9 million euros.
For this year, Elia expects a net profit of 335-285 million euros and a return on equity of 7 to 8 percent. For the Belgian activities this will be 200-230 million euros, with 1.4 billion in investments. Elia’s investment plans for the coming years are already clear. Approximately 30 billion will be invested in the energy transition, a small third of which will be in Belgium.
The company does warn of delays in the permit renewal. In Germany, an acceleration of permit procedures is noticeable, which gives Elia confidence that investments are on schedule. “However, in Belgium, where we plan to invest 9.4 billion euros for the period 2024-2028, such an acceleration has not yet been observed,” Elia warns. “We remain confident that both local and federal governments will take the necessary steps to ensure that grid infrastructure does not become an obstacle in the energy transition.”
