Stek secures landmark ruling for Dutch heat suppliers on allowed return and tariff regulation

Stek represented the Dutch heat companies through their industry association Vereniging Energie-Nederland (VEN) in an appeal against the Authority for Consumers and Markets (ACM) concerning the allowed return for heat suppliers for 2023–2025. The appeal culminated in a judgment of the Administrative High Court for Trade and Industry (CBb) on 14 April 2026. The proceedings included a joint experts' report and a hearing on 12 November 2024. In response to the litigation, ACM issued a corrected decision and amended policy rule on 15 May 2025 that took into account the asymmetric regulatory risk highlighted by VEN. Following a further CBb hearing on 17 December 2025, the policy rule was again amended in consultation between ACM and VEN. The 14 April 2026 judgment concluded the procedure by addressing the two remaining disputed issues: the treatment of innovative investments and the cost of equity. On innovative investments CBb held that it could not render a substantive judgment in this appeal because the relevant rules are contained in the policy note rather than in the decision; those rules may be assessed in a specific case concerning alleged excess returns. On the cost of equity CBb, in line with the joint experts and VEN, found that a 1% premium on the cost of equity in the WACC is necessary. The court quashed ACM's decision and ordered ACM to issue a new decision within four months, no later than 13 August 2026, applying a 1% premium to the cost of equity. Separately from this procedure, ACM must also amend the decision for the years 2026–2028. Jan Erik Janssen commented: “A lot needs to be done for the new market regulation under the Collective Heat Act and for the affordability of the heat transition, but the outcome of this procedure provides clarity on various elements of the tariff regulation and is therefore a welcome step towards the new market regime. For Stek the pleasant co-operation with VEN (Frans de Heij) and its members was also very welcome.” Stek represented the Dutch heat companies through their industry association Vereniging Energie-Nederland (VEN) with a team composed by: Jan Erik Janssen and Tobias Kok (Regulatory, Energy).

Menu

Stek secures landmark ruling for Dutch heat suppliers on allowed return and tariff regulation

Read the full story

Menu

Stek secures landmark ruling for Dutch heat suppliers on allowed return and tariff regulation

Read the full story

Cookie Preferences

Strictly Necessary

Analytics & Statistics

Marketing & Ads