Resolution ARG/gas 92/08 – “Criteria for the determination of the tariffs for the regasification service and amendments to Resolution 166/05 and Resolution 11/07”.
With Resolution ARG/gas 92/08, published on 9 July 2008, the Electricity and Gas Authority defined the tariff criteria for the regasification service applicable for the third regulatory period (1 October 2008 – 30 September 2012).
The mechanisms already in effect in the second regulatory period were confirmed for determining the base revenues, including the real return on net invested capital of 7.6% before taxes. In regard to the tariff structure, the breakdown of revenues into a regasification capacity component and a regasified volumes component was maintained at a ratio of 90/10.
The tariffs are updated using the price cap methodology applied only to the component relating to operating costs, with a productivity recovery coefficient of 0.5%.
The revenue component relating to the return and amortisation and depreciation is updated on the basis of an annual recalculation of invested capital and additional revenues from the incentives for investments realised in prior regulatory periods.
Incentives for new investments involve the payment of a return increased by three percentage points over the base rate (WACC), for a duration up to 16 years. Both the increase in the rate of return and the duration are differentiated depending on the type of investment.
Resolution ARG/gas 107/11 – “Approval of the tariff proposals for the regasification service for thermal year 2011-2012 for GNL Italia S.p.A. and Terminale GNL Adriatico S.r.l., in implementation of Resolution ARG/gas 92/08 issued by the Electricity and Gas Authority on 7 July 2008”.
With this provision, which was published on 2 August 2011, the Electricity and Gas Authority approved the tariffs for the regasification service provided by GNL Italia for thermal year 2011-2012, pursuant to Resolution ARG/gas 92/08.
The tariffs were set on the basis of the base revenues of €26 million. The actual revenues must take into account the regasified volumes and the contractual capacities. The net capital invested as at 31 December 2010 (RAB) was equal to around €0.1 billion.
Resolution 237/2012/R/gas – “Extension of the criteria for determining regasification tariffs for the transition period October 2012 - December 2013”.
With this resolution, which was published on 8 June 2012, the Authority extended the current tariff criteria for the regasification service for the transition period from 1 October 2012 to 31 December 2013, specifically providing for the real pre-tax rate of return on invested capital to be updated from 7.6% to 8.2%.
Resolution 312/2012/R/gas – “Approval of the tariff proposals for the regasification service for the transition period October 2012 - December 2013 for GNL Italia S.p.A. and Terminale GNL Adriatico S.r.l.”.
With this resolution, which was published on 27 July 2012, the Authority approved the tariffs for the regasification service offered by GNL Italia for the transition period from October 2012 to December 2013. The tariffs were determined based on reference annual revenues of around €28 million and the recognition of increased expenses resulting from local taxes following the resolution of disputes. The actual revenues must take into account the regasified volumes and the contractual capacities. As at 31 December 2011, the RAB for regasification activities was around €0.1 billion.