{"version":"1.0","provider_name":"Faces Online","provider_url":"https:\/\/faces-online.nl\/en\/","author_name":"Asset Financials","author_url":"https:\/\/faces-online.nl\/en\/author\/elleke-bender\/","title":"Interview Arjan Blok - Faces Online","type":"rich","width":600,"height":338,"html":"<blockquote class=\"wp-embedded-content\" data-secret=\"Oq3kHZjd3U\"><a href=\"https:\/\/faces-online.nl\/en\/interviewarjanblok\/\">Interview Arjan Blok<\/a><\/blockquote><iframe sandbox=\"allow-scripts\" security=\"restricted\" src=\"https:\/\/faces-online.nl\/en\/interviewarjanblok\/embed\/#?secret=Oq3kHZjd3U\" width=\"600\" height=\"338\" title=\"&#8220;Interview Arjan Blok&#8221; &#8212; Faces Online\" data-secret=\"Oq3kHZjd3U\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\" class=\"wp-embedded-content\"><\/iframe><script type=\"text\/javascript\">\n\/* <![CDATA[ *\/\n\/*! This file is auto-generated *\/\n!function(d,l){\"use strict\";l.querySelector&&d.addEventListener&&\"undefined\"!=typeof URL&&(d.wp=d.wp||{},d.wp.receiveEmbedMessage||(d.wp.receiveEmbedMessage=function(e){var t=e.data;if((t||t.secret||t.message||t.value)&&!\/[^a-zA-Z0-9]\/.test(t.secret)){for(var s,r,n,a=l.querySelectorAll('iframe[data-secret=\"'+t.secret+'\"]'),o=l.querySelectorAll('blockquote[data-secret=\"'+t.secret+'\"]'),c=new RegExp(\"^https?:$\",\"i\"),i=0;i<o.length;i++)o[i].style.display=\"none\";for(i=0;i<a.length;i++)s=a[i],e.source===s.contentWindow&&(s.removeAttribute(\"style\"),\"height\"===t.message?(1e3<(r=parseInt(t.value,10))?r=1e3:~~r<200&&(r=200),s.height=r):\"link\"===t.message&&(r=new URL(s.getAttribute(\"src\")),n=new URL(t.value),c.test(n.protocol))&&n.host===r.host&&l.activeElement===s&&(d.top.location.href=t.value))}},d.addEventListener(\"message\",d.wp.receiveEmbedMessage,!1),l.addEventListener(\"DOMContentLoaded\",function(){for(var e,t,s=l.querySelectorAll(\"iframe.wp-embedded-content\"),r=0;r<s.length;r++)(t=(e=s[r]).getAttribute(\"data-secret\"))||(t=Math.random().toString(36).substring(2,12),e.src+=\"#?secret=\"+t,e.setAttribute(\"data-secret\",t)),e.contentWindow.postMessage({message:\"ready\",secret:t},\"*\")},!1)))}(window,document);\n\/\/# sourceURL=https:\/\/faces-online.nl\/wp-includes\/js\/wp-embed.min.js\n\/* ]]> *\/\n<\/script>\n","thumbnail_url":"https:\/\/faces-online.nl\/wp-content\/uploads\/2014\/07\/Faces-banner-ter-vervanging.jpg","thumbnail_width":1200,"thumbnail_height":628,"description":"Can you tell us something about your studies, your career and how you started working at Essent? I studied business economics in Rotterdam. I did four internships during my studies, which is not common. I wanted the combination of theory and practice. During the last internship, at the Ministry of Finance, I asked for a structural function. Then I combined two years of my first job with my studies, which I would not recommend anyone. You cannot do your study just in the evening hours. After I worked for four years as a management consultant , \u00a0I have been finance director at the State Lottery for two years. There I sold \u2018the chance of luck\u2019 and now I sell energy. The energy sector is the best sector that exists, it is my opinion for already ten years: every day is different. When you look at the developments in the last decade; so many changes are not at any other market taking place. Actually, you can say: the only continuity is the high volatility of market developments. What is the earning model of Essent? We can separate it into three elements. The first element is the production process where we make power and heat and purchase gas. The second element is the sales side; we sell gas, electricity and heat as well as services to our customers. The third element of our business model is trade. Here are the production and sale together: the objective is to optimize the entire energy chain. What important or special items are on the balance sheet of Essent? An important item contains the Essent power plants. Another is the purchase contract. As you&#8217;ve probably put contracts for the next ten years than it is today, the value of which is also on the balance sheet. In other words: as for the next decade gas supplies have been purchased and the price of gas on the market falls below the contracted price, then the value of the gas contract is negative. Due to this mandatory reporting to all stakeholders, \u00a0the organization&#8217;s risk profile has become much more transparent. The government has obliged to change of audit every seven years. What do you think of this? I&#8217;m a big supporter of this. You can use an accountant for multiple purposes. Some colleagues see no added value and consider the role of the auditor only if compliance with a legal obligation. I use my accountant emphatically as second line of defense. An accountant has an objective, fact-based view, partly enforced by law and regulations. It is incredibly important to your organization to have all this. An objective third, a party who, with more distant from the details, looks sharp at the extent to which the organization is in control. After several years, however, you create a relationship with the auditor and it may get too much &#8216;understanding&#8217; problems in the field of business. The danger is that you are somewhat milder than in your rating. If you change every seven years, then there will be a fresh look. This is very important for the survival of the organization. Jan Hommen, former CEO of ING provides chaos by these regulations. Companies will at the same time change their accountants and not every accountant is specialized in each industry. Do you see these problems for Essent? No, not at all. Although I ascribe a key role to accountants for the management of the organization, the auditor has no role in increasing my earning power. Our own people develop the quality of our earnings. The auditor does not contribute to this. He or she only checks my judgment, but I do not sail blindly at this. What great and significant risks identified Essent for itself? What do you do to avoid these risks and how do you cover these risks? I see two major risks: changes in laws and regulations and also unhappy customers. The client determines whether we can earn our bread in this sector. We will also do everything possible to predict the expectations of our customers well, and then live up to these expectations. When you look at regulations we are regarded as a thought leader in the field of energy. We must take our social responsibility to the knowledge we have to share with politicians, for example to help the Netherlands to develop an energy policy for years to come. We are also working with our customers every day. Only a satisfied customer will stay with us and pay his or her account. We do this with customer satisfaction surveys and our strategy to keep energy bills as low as possible. We do this by supporting customers with all kinds of products and services to be as efficiently as possible with energy. From the adage: an unused kilowatt-hour is the most durable! What happens to the retained earnings of Essent? We are continually working to its short and long-term success. Here you have to find a balance. How much do I invest of every dollar I earn today in the day of tomorrow? In addition, we look to our stakeholders. So do I give a portion to the employees, shareholders, and debt providers or do I invest with it? We pay off now on the large investments on plants in the past, and on the other hand we look at how we can achieve transition to a sustainable society. With the Energy Agreement should in 2020 14% of energy be produced from renewable energy sources. What does Essent to achieve this goal? We keep doing what we&#8217;re doing. We are the largest energy producer in the Netherlands. We also have several initiatives: onshore wind, the largest wind park in the Netherlands and we examine developments for offshore wind. We investigate whether offshore wind is viable in the long term. It is very important to choose the right &#8216;entry point&#8217;: if you put a wind park, it will be there for thirty years. The question is therefore:"}