Corporate assurance

TenneT applies the guidelines and principles of the Corporate Governance Code as much as possible. In some areas, however, we deviate from the Code.

Some of the Code’s principles and guidelines are only applicable to listed companies. In our annual report we state where TenneT deviates from the Code. Our shareholder, the State of the Netherlands, supports the way in which TenneT applies the Code.

Supervision

TenneT’s Board of Management is responsible for realising the company’s objectives, determining strategy and policy, and achieving the corporate results. There are various ways in which supervision is exercised and account rendered:

• TenneT has an internal control and risk management system. This allows TenneT to evaluate its own activities and take corrective action where necessary.
• The Supervisory Board monitors the work of the Board of Management and the general course of affairs at the company.
• The Board of Management and the Supervisory Board are accountable to the General Meeting of Shareholders. In the annual report, we state how we apply the Corporate Governance Code and where we deviate from it.
• TenneT’s external auditor checks the company’s financial statements and reports its findings to the Supervisory Board.    

Code of Conduct

TenneT has drawn up a corporate Code of Conduct based on our core values of quality and integrity. The rules of conduct in this Code form the basis for how our employees operate and communicate.