Belgium
Investor relations

EnergyVision launches "Energy Crisis Plan"

05.09.2022

In preparation for a harsh winter, we have developed an Energy Crisis Plan with EnergyVision to minimise the impact of the ongoing energy crisis on both our customers and our employees. To this end, we are making six commitments to new customers, existing customers and our employees.

Our first commitment: we will provide an investment budget of EUR 100 million to develop solar projects for energy-intensive companies that do not have enough roof space to install solar panels. We will install solar projects both on roofs and on land, and will divert this power on a one-to-one basis to these companies, who will be able to buy this energy at a low, fixed price.

Our second commitment: we have a tightened EnergyHome offer for families in Flanders. We install solar panels free of charge. Families can buy the electricity at a fixed price (0.20 EUR/kWh all-in) or at a variable price (30% lower than the customer's current energy price). Our prices are cheaper than the social tariff for electricity and our contracts can be cancelled annually. More information on www.energyhome.be.

Our third commitment: we guarantee all our industrial customers at whom we install solar panels a fixed price that is fixed for the long term. Even when energy prices derail, even when the banding factor falls to zero, we still maintain the same fixed, predictable price (with a maximum annual price increase of 2%, but no link to energy prices or inflation). We do not charge any further price increases for our solar energy.

Our fourth commitment: we reiterate our call from July for industry-wide use of excess profits to address the major social problems caused by energy prices. As a company, we only have excess profits on the energy we inject, which is limited to less than one percent of our consolidated annual turnover. It is not normal and not healthy that today we can inject our surplus energy at EUR 400 or more per MWh instead of EUR 40 or less. It is not normal and not healthy that we get ten times more for energy whose production cost did not increase. The cost to society is far too high.

Pending a decision by the government, we are using our injected energy to the maximum in order to divert it cheaply to our charging stations and charging points. Electric cars can charge their vehicles with our EnergyDrive charging cards as well as with external charging cards at cheap rates (based on 2019-2020 electricity prices).

Our fifth commitment: In the coming months, we will do everything possible to help as many companies and families as possible to get through the energy crisis. Our absolute priority is to help the most vulnerable groups. In Brussels, our Brusol programme focuses mainly on underprivileged families and small roofs, where we install solar panels for free. In Flanders, we are working with Aster to scale up as much as possible the installation of solar panels in social housing before spring 2023.

Our sixth commitment: We are helping our employees get through the winter. In Flanders we do not have a licence to supply energy to households. We asked for and received an exception from the VREG to be able to do this for our employees. All our employees receive a three-year energy contract from us, under which electricity can be purchased based on the prices of 2019-2020. To this end, we deploy our own energy projects and, at a fixed electricity cost of EUR 0.10/kWh (excluding distribution and other costs, excluding VAT), we divert this electricity to the connection points of our employees. This year, we plan to recruit at least another 50 employees. This commitment also applies to them. For each employee, this leads to a saving of EUR 5,000 to 10,000 per year on his or her energy bill. This mental and financial peace of mind will help the company keep its focus on guiding as many families and companies as possible through the energy crisis in the time ahead.

It will be a long, hard winter.

EnergyVision promises to do everything we can to get through it together with our customers and employees.