Definitions

‘Arbeidsomstandigheden’, the Dutch term for working conditions.

Billion cubic meters.

Billion cubic metres.

Hydrogen produced from fossil energy (natural gas) in combination with CO₂ capture and storage.

Developing new products/services and/or entering new markets.

The storage and reuse of CO_₂ is also referred to as CCUS (Carbon Capture, Utilisation and Storage).

The churn factor expresses how often a standard quantity of gas is traded on average in the period between initial production and consumption by the end-user. A higher churn factor means a more liquid gas market.

Methane; the most important component of natural gas.

Carbon monoxide; released when fuel does not fully burn.

A compliance covenant is an agreement with the Dutch tax authorities containing basic principles and the way in which the parties wish to deal with each other.

Normalised total of staff costs and other operating expenses minus costs allocated to investments and uncontrollable energy costs.

Carbon dioxide; released when fuel fully burns.

CO₂ and CH₄ emissions can be converted by means of the Global Warming Potential (GWP) into a measure for the enhanced greenhouse effect, called CO₂ equivalent emission. The GWP for CO₂ is set at 1 and the GWP for CH₄ at 23.

Earnings before deduction of interest and taxes.

Earnings before deduction of interest, taxes, depreciation and amortisation.

The 'effective temperature' refers to the actual temperature, supplemented by an adjustment for wind speed.

Employer branding is the promotion of the organisation as an employer of choice to a specific target group of (potential) employees. The better Gasunie's image as an employer, the more people will want to work for the company.

ENTSOG, the European Network of Transmission System Operators for Gas aims to facilitate and promote cooperation between national gas transmission system operators (TSOs) in Europe.

Formally stating an interest, such as in taking part in a grant scheme.

Funds From Operations is the sum of the result after taxation of ordinary activities, depreciation, amortisation and impairments.

This ratio gives insight into the development of the Funds From Operations relative to finance costs.

The controlled releasing of gas by burning it.

The Greenhouse Gas Protocol, the prevailing standard for reporting on CO₂ emissions, breaks down emissions according to their source. It is divided into scope 1 (direct emissions as a result of our own activities), scope 2 (indirect emissions from the procured energy) and scope 3 (all other indirect emissions as a consequence of our business operations).

Green gas is biogas upgraded to the quality of natural gas.

Hydrogen produced in a climate-neutral way from renewable energy sources such as wind and solar power.

Gas that contributes to the creation of an insulating layer around the earth, causing it to warm up. The most important greenhouse gases are: water vapour, carbon dioxide, methane, nitrous oxide and chlorinated hydrocarbons.

Gasunie Transport Services

Gasunie Deutschland

A gigawatt (GW) is a unit of electric power. A megawatt is equal to the annual production of 4,444 solar panels, the production of one offshore wind turbine in 19 minutes and the energy supply to one house for 55 years.

Global Warming Potential (GWP). The Intergovernmental Panel on Climate Change regularly updates the GWP based on the latest scientific insights.

A group of chemical substances comprising carbon and hydrogen.

Hydrogen.

Implicit Allocation Mechanism (IAM) is a method to sell unbundled transmission capacity, which is combined with an equivalent volume of gas outside the PRISMA auction calendar.

Incidents resulting in injuries to one or more employees of Gasunie and/or third parties as a consequence of carrying out work. Absence refers to work (or replacement work) not being resumed within one working day (24 hours).

Input tax is ‘VAT on our costs’, i.e. VAT that our suppliers have billed us for.

Total of tangible fixed assets, investments in joint ventures, investments in associates, and other equity interests adjusted for work in progress assets for which payment has yet to be received.

The Integrated Pollution Prevention and Control (IPPC) directive aims at integrated prevention and combating of environmental pollution. The IPPC directive obliges the EU member states to regulate emissions into water, air and soil (including measures for waste materials) by large companies and by intensive livestock farming.

International Standardisation Organisation; an organisation that sets international standards.

Coal phase-out, the German government’s decision to ban the operation of coal-fired power stations in the long term.

The mandate that a company is given (by the government and/or society) to perform its tasks.

Liquefied Natural Gas.

A megawatt (MW) is a unit of electric power. A megawatt is equal to the annual production of 4 solar panels, the production of one offshore wind turbine in 28 minutes and the energy supply to one house for 20 days. This MW unit is frequently used for high power.

Network code on harmonised transmission tariff structures for gas (NC TAR). NC TAR describes a method used for calculating the gas transmission tariffs for national transport of gas on the basis of the national transmission operator’s revenues. Among other things, the ACM sets a reference price methodology, certain discounts, the multipliers and the seasonal factors. The revenues have already been set in the method decision.

This ratio provides insight into the extent to which tangible fixed assets are financed by debt.

The normalised Net Operating Profit Less Adjusted Taxes is the total of normalised EBIT and the share in the result of associates net of taxes.

Normalisation is the correction of the effect on net profit of costs and revenues that have not been part of actual operations.

Normalised Return On Equity is calculated by dividing the normalised result after taxation by the normalised equity.

Normalised Return On Invested Capital is calculated by dividing the normalised NOPLAT by the invested capital. This ratio provides information on the extent to which Gasunie generates cash flows compared to the cash flow it has invested in the business.

Collective term for nitrogen oxide gases. These gases are released in all burning processes and contribute to atmospheric pollution.

Aromatic substance added to naturally odourless natural gas for safety reasons.

System for registering compressor data.

The payout ratio indicates, as a percentage, how much of the profit is paid out as dividend to the shareholder.

A technique for storing energy where electrical energy is converted into chemical energy in the form of gas, since gas is easier to store than electricity. There are various methods for doing this, with the most significant differences being what is produced. The gas created can be either hydrogen or methane.

Pseudo-G-gas is low-calorific gas made from high-calorific gas. This gas is of the same quality as Groningen gas.

Incidents resulting in absence, medical treatment, replacement work or fatalities.

The Greenhouse Gas Protocol, the prevailing standard for reporting on CO₂ emissions, breaks down emissions according to their source. It is divided into scope 1 (direct emissions as a result of our own activities), scope 2 (indirect emissions from the procured energy) and scope 3 (all other indirect emissions as a consequence of our business operations).

In the Netherlands, this is understood to mean: the number of times gas transport was interrupted because no, or insufficient, gas was able to flow through our infrastructure, irrespective of whether GTS in the Netherlands was able to supply sufficient gas to customers. In Germany, it is understood to mean: the number of times that our infrastructure was unable to supply sufficient gas to customers. The scores attained by Gasunie in the Netherlands and Germany are added together to produce the total target score.

Sulphur hexafluoride (SF₆) is an inorganic compound of sulphur and fluorine. It is a powerful greenhouse gas.

Organisations or persons with a certain interest in the company.

A measure for safety; the number of ‘reportable’ incidents (incidents leading to absence, medical treatment, alternative work or fatalities) per 1 million hours worked, assuming 1,600 working hours per FTE per year.

Transmission system operator: (TSO) is an entity responsible for the transport of energy in the form of natural gas or electricity at a national or regional level, by means of permanent infrastructure.

Minimum (or maximum) monthly flow divided by the monthly average value of firm total.

The controlled releasing of gas.

The Weighted Average Cost of Capital, usually abbreviated to WACC.