Our mission, strategy and value creation
As a grid operator, we have an essential role and a major responsibility. We are driven by our desire to ensure that all of the Netherlands and a large part of Germany have a reliable, secure and high-quality electricity supply. This is part of our mission.
Security of supply
Security of supply is our biggest concern. We consider it is safer and more reliable for our grid to be linked into the wider north-west European (NWE) network. This makes the supply of power not only more reliable, flexible and stable, but also more cost-effective for consumers. Encouraging this integration of the European market, and facilitating its evolution, is a core part of our vision. This is particularly important as more and more renewable energy flows into the grid. It makes the market more complicated to manage and design, requiring more innovation and cross-border collaboration.
For more detailed information on our mission and vision, click here.
To succeed in our mission, we developed a fitting strategy. Our overarching objective is to deliver value for our stakeholders and we aim to realise this through four strategic goals:
This report is structured following these strategic goals. Based on our mission and strategic goals, we have set seven strategic priorities which we believe will best help us realise these goals.
● Enhance the flexibility and resilience of our transmission grid to ensure security of supply
To manage the rapid rise of renewable energy sources, improve our ability to balance power, ensure continuous voltage control and relieve grid congestion, we apply market-based solutions that improve supply and demand flexibility. We will also use software and possibly hardware solutions, such as developing storage technology.
● Advance the use of data and analytics
To gain insight into the renewables load feeding into the grid and improve our forecasting to ensure security of supply, we are collecting and enriching electricity and electricity-related data, which will also help us drive market integration.
● Drive integration of the NWE electricity market
We work closely with other TSOs on various topics, including market design, market coupling and regional security centres, to drive the further integration of the NWE electricity market.
● Anticipate and address what society wants and needs through dialogue and innovation
We actively engage with society and respond to society's needs and concerns with innovative developments such as transmitting electricity underground, dynamic line rating and high temperature super conductors.
● Maintain access to capital markets and equity capital
The size of our investment programme requires ongoing financing and, given the regulatory uncertainties, it also requires flexible access to equity.
● Pursue operational excellence
We optimise the efficiency of our capital expenditures (capex) and operational expenditures (opex) through smart investment solutions and keeping operating costs low.
● Pursue organisational excellence
We do this by creating a performance culture, organisational flexibility and best-in-class safety performance.
Our stakeholders play a central role in our long-term value creation. The interactive value creation model summarises the input we use and the added value we create for our stakeholders through our activities. Furthermore, all the elements in our interactive value creation model are linked to the respective sections of this report which provide further details on each element.
Our culture plays an important role in our activities. As such, we strive to hold ourselves to the highest values of quality and integrity.
Quality requires the highest standards of safety in everything we do.
Integrity means being open, honest and respectful in the way we serve society, particularly local communities, partners and employees.
Our brand values
The TenneT brand is built on a commitment to be responsible, engaged and connected. This is our promise to the outside world, describing how we serve our stakeholders and how we want them to see us.