Local added value

GRI 203-1, GRI 203-2, GRI 204-1, GRI 201-1

In its regulations adopted by management, 50Hertz has undertaken not to adopt an "aggressive tax policy" and to pay its taxes on time and in accordance with the law. By making this voluntary commitment in the areas it can influence, 50Hertz has created a framework for sustainably distributing the added value generated. The main beneficiaries of this are structurally weak regions located in 50Hertz’s grid area.

50Hertz clearly expresses its commitment to its regional responsibility and the economic development there. In this regard, 50Hertz purchased goods and services totalling EUR 1.16b from companies headquartered in Germany in 2020. Of this, EUR 431.5m went to companies based in 50Hertz’s grid area. This is a quota of around 37%.

GRI 204-1

There were no legal disputes regarding tax issues in the reporting year.

Due to its stable economic situation, 50Hertz did not make use of any coronavirus subsidies.