VISION 2050 - Fluvius path to climate neutrality
Executive Summary
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Strategic Importance to
the Flemish Region
Favourable
Regulatory Environment for Energy
(Revenue Cap)
Efficient Operating
Scheme
Solid Cash Flow Visibility
Fluvius covers 100 % of the municipalities of the Flemish Region
Fluvius operates essential utility services for Flemish society: electricity & gas distribution, public lighting, sewerage,
cable networks, district heating and the associated data management
The energy DSOs have a legally based regional monopoly for electricity & gas distribution
Tariff mechanism with a 4-year regulatory period based on a revenue cap model, including a fair profit margin as
remuneration on invested capital
Group structure with one single operating company (Fluvius System Operator) for 11 utility companies allows for
efficient operations and benefits of scale
Pooling of staff and all operational, financial and management activities at the operating company
Predictable revenue streams across all activities
Low Risk Profile
Favourable
Economic
Dynamics
CSR & ESG policy
fluvius.
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Low business risk - the DSOs and other intermunicipalities are not involved in competitive activities
Intermunicipalities own 100% of their network infrastructure
Flanders (Fitch: AA stable; Moody's: Aa3 stable) is Belgium's (Moody's: Aa3 stable) most populated region (6,7 million
inhabitants - Jan 2021). Moody's rating of Flanders is based on a diversified, wealthy and innovative economy, solid
institutions and governance strength and decisive response to pandemic which limits risks of LT scarring (7 Dec 2021)
Fluvius has solid investment grade ratings: A3 (stable) at Moody's - A+ (negative) at Creditreform
Fluvius is a key partner for the Flemish Climate & Energy Plan - Fluvius itself has developed its Vision 2050 pathway to
Flemish climate neutrality
Sustainable Development Goals (SDGs) are at the heart of Fluvius's impact-based CSR strategy
June 2022.
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