Definitions
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A
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Arbo
‘Arbeidsomstandigheden’, the Dutch term for working conditions.
B
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bcm
Billion cubic meters.
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Billion m³
Billion cubic metres.
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Blue hydrogen
Hydrogen produced from fossil energy (natural gas) in combination with CO2 capture and storage.
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Business development
Developing new products/services and/or entering new markets.
C
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CCUS
The storage and reuse of CO₂ is also referred to as CCUS (Carbon Capture, Utilisation and Storage).
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CH₄
Methane; the most important component of natural gas.
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Churn factor
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...
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CO
Carbon monoxide; released when fuel does not fully burn.
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CO₂
Carbon dioxide; released when fuel fully burns.
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CO₂ equivalent emission
CO₂ and CH4 emissions can be converted by means of the Global Warming Potential (GWP) into a measure for the enhanced greenhouse effect, called...
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Compliance covenant
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.
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Controllable cost
Normalised total of staff costs and other operating expenses minus costs allocated to investments and uncontrollable energy costs.
E
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EBIT
Earnings before deduction of interest and taxes.
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EBITDA
Earnings before deduction of interest, taxes, depreciation and amortisation.
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Effective temperature
The 'effective temperature' refers to the actual temperature, supplemented by an adjustment for wind speed.
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Employer branding
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...
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ENTSOG
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.
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Expression of interest
Formally stating an interest, such as in taking part in a grant scheme.
F
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FFO
Funds From Operations is the sum of the result after taxation of ordinary activities, depreciation, amortisation and impairments.
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FFO/interest ratio
This ratio gives insight into the development of the Funds From Operations relative to finance costs.
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Flaring
The controlled releasing of gas by burning it.
G
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GHG Scope 1, 2 and 3
The Greenhouse Gas Protocol, the prevailing standard for reporting on CO₂ emissions, breaks down emissions according to their source. It is divided into...
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Green gas
Green gas is biogas upgraded to the quality of natural gas.
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Green hydrogen
Hydrogen produced in a climate-neutral way from renewable energy sources such as wind and solar power.
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Greenhouse gas
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,...
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GTS
Gasunie Transport Services
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GUD
Gasunie Deutschland
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GW
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...
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GWP
Global Warming Potential (GWP). The Intergovernmental Panel on Climate Change regularly updates the GWP based on the latest scientific insights.
H
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H₂
Hydrogen.
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Hydrocarbons
A group of chemical substances comprising carbon and hydrogen.
I
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Implicit Allocation Mechanism
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.
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Incidents (resulting/not resulting in absence)
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...
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Input tax
Input tax is ‘VAT on our costs’, i.e. VAT that our suppliers have billed us for.
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Invested capital
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.
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IPPC
The Integrated Pollution Prevention and Control (IPPC) directive aims at integrated prevention and combating of environmental pollution. The IPPC directive...
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ISO
International Standardisation Organisation; an organisation that sets international standards.
K
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Kohleausstieg
Coal phase-out, the German government’s decision to ban the operation of coal-fired power stations in the long term.
L
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Licence to operate
The mandate that a company is given (by the government and/or society) to perform its tasks.
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LNG
Liquefied Natural Gas.
M
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MW
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...
N
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NC TAR
Network code on harmonised transmission tariff structures for gas (NC TAR). NC TAR describes a method used for calculating the gas transmission tariffs for...
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Net debt including guarantees/tangible fixed assets
This ratio provides insight into the extent to which tangible fixed assets are financed by debt.
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NOPLAT
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.
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Normalisation
Normalisation is the correction of the effect on net profit of costs and revenues that have not been part of actual operations.
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Normalised ROE
Normalised Return On Equity is calculated by dividing the normalised result after taxation by the normalised equity.
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Normalised ROIC
Normalised Return On Invested Capital is calculated by dividing the normalised NOPLAT by the invested capital. This ratio provides information on the extent...
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NOₓ
Collective term for nitrogen oxide gases. These gases are released in all burning processes and contribute to atmospheric pollution.
O
P
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Pay out ratio
The payout ratio indicates, as a percentage, how much of the profit is paid out as dividend to the shareholder.
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Power-to-gas
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....
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Pseudo G-gas
Pseudo-G-gas is low-calorific gas made from high-calorific gas. This gas is of the same quality as Groningen gas.
R
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Reportables
Incidents resulting in absence, medical treatment, replacement work or fatalities.
S
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Scope 1, 2 and 3
The Greenhouse Gas Protocol, the prevailing standard for reporting on CO₂ emissions, breaks down emissions according to their source. It is divided into...
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Security of supply
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...
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SF₆
Sulphur hexafluoride (SF₆) is an inorganic compound of sulphur and fluorine. It is a powerful greenhouse gas.
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Stakeholders
Organisations or persons with a certain interest in the company.
T
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Total Reportable Frequency Index
A measure for safety; the number of ‘reportable’ incidents (incidents leading to absence, medical treatment, alternative work or fatalities) per 1 million...
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TSO (NL) and TBN (DU)
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...
U
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Utilisation
Minimum (or maximum) monthly flow divided by the monthly average value of firm total.
V
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Venting
The controlled releasing of gas.
W
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WACC
The Weighted Average Cost of Capital, usually abbreviated to WACC.
