Dutch/German transmission system operator TenneT earnings rose to over €1bn in the first half of 2021, up 6% on the €960m posted in the same period last year.
Revenue increased almost 11% to more than €2.56bn from just under €2.32bn in the first six months of 2020.
Investments were over €1.61bn in the first half of this year, up 15% on last year’s €1.41bn, mainly driven by a growing asset base and additional compensation for grid-related expenses.
TenneT said it was able to maintain a high security of supply of 99.99% for its 42 million Dutch and German end users.
TenneT chief executive Manon van Beek said: “As Europe’s first cross-border TSO with expected annual investments to grow to €5-6bn, TenneT aims to achieve a timely delivery of onshore and offshore extensions and investments.
“Our energy system is undergoing a revolutionary development in which the high voltage electricity grids – the backbone of the energy system – are being used in a completely different way.
“Once built to meet the demand for energy, now it is changing into a multifunctional connector of electricity supply, demand and storage.”