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There are more than 400 TotalEnergies service stations in the Netherlands. The company is transforming from an oil-gas company to a multi energy company. TotalEnergies therefore operates in all energy markets: wind, solar, hydrogen and biofuel. In terms of energy transition, the group's ambition is to be CO2 neutral by 2050 with all its global operations. When we speak to Credit Manager Ronald van Groningen of TotalEnergies Marketing Nederland N.V., he reports that he has just renewed the contract with Xolv again.

Prolonged due to success
Ronald has worked at TotalEnergies for 16.5 years and some 9.5 years as Manager Credit Control, as it says on his business card. "When I just started in this position, our procurement department had a tender running for a new broker. From there, Xolv emerged as the best party. That we are prolonging this cooperation again almost 10 years later already indicates that it was the right choice."

Smart solutions
Ronald particularly likes Xolv's collaborative thinking and their ability to quickly come up with a smart solution. He comes up with an exemplary practical example. "In the Netherlands, TotalEnergies also buys fuel from other companies, there are specific agreements for that. According to regulations, a certain percentage of that fuel has to be biofuel. You can physically blend that biofuel or you can buy so-called tickets for it, fulfilling your obligations via that route. You have to pay for those tickets in advance and that is settled once every six months, so the amounts are substantial. Imagine that the supplier goes bankrupt and we don't get the tickets, while we do have to meet that obligation. So in the worst case scenario, you have to buy those tickets again and you would pay twice. Xolv, in close consultation with Atradius, has found a smart solution to cover that kind of risk as well."

'With Xolv, we have a thinking sparring partner'

Top-Up insurance
Xolv also arranges Top-Up insurance for TotalEnergies with some regularity. Ronald explains: "TotalEnergies not only supplies large parties but also smaller customers such as the intermediary trade. This involves, for example, orders of around 1 million Euro, for which, however, based on the available figures, the credit insurer is prepared to provide cover for only 5 tonnes. With Top-Up insurance, we can then still cover all or most of the risk, provided the credit insurer considers the customer creditworthy enough."

Hat and brim
In the Netherlands, it is common to have a broker between the customer and credit insurer. "I have a financial background myself but at the same time realise that credit insurance is a very specific product. Xolv does nothing else, knows the ins and outs. That is crucial. That's why Xolv is also our sparring partner when it comes to new developments in the energy market. They think along about issues affecting our company, in which they may be of service to us. At the same time, they keep us informed about new financial solutions that might be of interest to us. That proactive attitude is a nice added value," concludes Ronald.