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12 Other current assets

Other current assets of €95 million (€115 million at 31 December 2012) comprise:

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(€ million)

31.12.2012

31.12.2013

Accrued income from regulated activities

78

61

 

78

61

Other current assets:

 

 

- Prepayments

37

34

 

37

34

 

115

95

Accrued income from regulated activities of €61 million relates to: (i) the current portion of natural gas transportation revenue invoiced below the restriction established by the Regulator (€56 million); and (ii) the current portion (€5 million) of the assets recorded against the recognition by the Electricity and Gas Authority of additional expenses borne during the second regulatory period (1 October 2005 - 31 December 2009) for the purchase of fuel gas used in the transportation business.

Prepayments (€34 million) refer mainly to the current portion of repayments on up-front fees and substitute tax on revolving credit lines14 (€30 million) and to insurance premiums (€2 million).

14 Up-front fees and substitute tax are to be regarded as “transaction costs” pursuant to IAS 39; the relative charges are spread over the (expected) life of the financial instrument.

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