Annual overview EBN 2023: progress in projects and organizational growth

Energie Beheer Nederland (EBN) has also in 2023 taken steps in progressing the energy transition. Looking back on this special year, which marked our 50th anniversary, EBN is proud of the progress we have made towards our mission: “together, faster towards a sustainable energy system.” In 2023, we have also been able to make an important contribution to ensuring an affordable and reliable energy supply for citizens and companies in the Netherlands.

Progress and growth

Jan Willem van Hoogstraten, CEO of EBN, states: “We have made progress in various areas and we also have contributed to the energy transition. We have achieved a number of important milestones in 2023, such as the positive ruling by the Council of State on the Porthos CO2 storage project and further steps with the SCAN project in which we investigate the Dutch subsurface for the potential for geothermal heat extraction. In our view, geothermal energy is an excellent alternative to natural gas in making heat demand more sustainable. In addition, the filling of the Bergermeer gas storage facility contributed to the security of supply in the Netherlands. In a financial sense, the trend of the previous years continued in 2023 – after an exceptional year in 2022 with extremely high gas prices. The diversity of our activities reflects the various dilemmas and conflicting interests of and in the energy transition (fossil investments versus sustainability). This increased diversity in activities also translates into the growth in numbers and diversity of our organization: the number of employees has increased by 20% in the past year, from 160 to 200. These new employees bring different backgrounds, competencies and training. With all our activities and people, we are taking concrete steps towards the future climate-neutral energy system and thus contributing to the energy transition.”

Reliable energy supply

With the termination of the Groningen gas field in 2023, 60 years of gas extraction have come to an end. The gas tap in Groningen will be permanently closed by no later than the first of October 2024, and possibly sooner. To ensure that society is prepared for cold winters and other unforeseen circumstances, EBN has also played an important role in filling the gas storage facilities in 2023. The filling of the Bergermeer gas storage facility in particular guarantees security of supply for the Netherlands, thereby contributing to an affordable and reliable energy supply. Fulfilling this public task fits in with the growing call for government control in the energy transition.

Important developments in CO2 storage

Storing CO2 underground, especially when it cannot be reduced in the short term, is an important part of the energy transition and for achieving the reduction targets by 2030. Thanks to the positive ruling of the Council of State concerning the nitrogen case that was initiated by MOB regarding the Porthos CO2 storage project, the final investment decision was reached in October. In 2024, construction of the first large CO2 transport and storage system in the Netherlands will begin in Rotterdam. The Porthos system is expected to be operational in 2026. In addition, the CCS project Aramis has reached an important new phase (Front End Engineering Design). The partners involved, TotalEnergies, Shell, EBN and Gasunie have reached agreement on the further development of crucial parts of the required infrastructure. This brings the realization of the largest CCS project in Northwest Europe ever closer.

Exploratory drilling for geothermal energy

In 2023, EBN has taken steps with the SCAN project by further mapping the Dutch subsurface for the potential extraction of geothermal heat. Geothermal energy remains a focus point in our efforts to make heat demand more sustainable, as evidenced by the growth of our portfolio and the increasing interest from municipalities across the Netherlands. A transparent and collaborative approach is of great importance, especially with a view to the development of heat networks. King Willem-Alexander’s visit to the SCAN Amstelland drilling site in November was a highlight.

Parliamentary inquiry in Groningen

The parliamentary inquiry into natural gas extraction in Groningen was completed in early 2023. This was an important moment for the residents of Groningen. A number of recommendations from the inquiry committee have a direct impact on EBN. One of these is to be even more transparent about how we represent public interests. Our public role is firmly anchored in our strategy. In addition, we elaborate in this annual report on how we represent public interests when carrying out our statutory duties.

Financial results: return to normal turnover

The 2023 turnover amounted to EUR 3 billion. This significant decrease can mainly be attributed back to the exceptional year 2022, in which turnover was exceedingly high (EUR 12 billion) due to high gas prices as a result of the ongoing war in Ukraine. In 2023, in addition to the drop in gas prices, decreased volumes due to the closure of the Groningen field also played a role. Despite this significant decline, the net result remained positive, with a total of EUR 246 million.
EBN paid a total of EUR 5.5 billion to the Dutch state in 2023. In 2024, EUR 0.7 billion will be paid out in dividend.