Note 55 Finance income

€ million

2020

2019

Interest income on money market loans and deposits

1

1

Finance income on loans from group companies

74

84

Currency translation differences

-

-

   

Total

75

85

Alliander uses FX swaps to hedge the currency risk. The exchange differences arise from the effect which the movements in the US dollar exchange rate against the euro have on the finance raised in foreign currencies under the Euro-Commercial Paper (ECP) Programme.

The finance income from loans to group companies was down by €10 million compared with 2019 as a result of changes in the interest rate charged and changes in the composition of group companies.