Related party transactions

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Associates, joint ventures and the company's Management and Supervisory Boards are considered as related parties. Shareholders in Eneco with significant influence are also related parties.

Sales to and purchases from related parties are on terms of business normally prevailing with third parties. Receivables and liabilities are not covered by collateral and are paid by bank transactions.

The table below shows the trading transactions with the principal related parties:

Sales

Purchases

2013

2012

2013

2012

Associates

114

94

22

18

Joint ventures

7

3

44

54

Other capital interests ( > 20%)

1

30

21

Assets

Liabilities

At 31 December 2013

At 31 December 2012

At 31 December 2013

At 31 December 2012

Associates

15

22

3

1

Joint ventures

1

1

6

8

Other capital interests ( > 20%)

2

2

Note 6 provides details of the remuneration of members of the Management and Supervisory Boards.

During the past financial year, Eneco made a non-material acquisition of 52.8% of the shares in Home Automation Europe B.V., a small company which supplies the Toon thermostat. The transaction included the chairman of the Supervisory Board’s beneficial interest in this company, which predated him taking office at Eneco. Depositary receipts were issued for his shares when he took office. The Supervisory Board (in the absence of the chairman) ensured that the supervisory director concerned did not take part in the decision. He was also not involved in decisions on the sale, including the evaluation of the selling price of the company in question.

The only other relationship between the members of the Management and Supervisory Boards and Eneco is that of customer and  supplier on normal arm’s length terms and conditions. Eneco applies the exemption from disclosures on related party transactions with government-related entities. The Municipality of Rotterdam has significant influence. There is no relationship other than the shareholder relationship, except that of customer and supplier on normal arm’s length terms and conditions.