INVESTMENTS
| Download XLS (16 kB) |
|
(€ million) |
2009 |
2010 |
2011 |
Change |
Change % |
|
Development |
692 |
671 |
601 |
(70) |
(10.4) |
|
Investments with 3% incentive |
451 |
456 |
356 |
(100) |
(21.9) |
|
Investments with 2% incentive |
241 |
215 |
245 |
30 |
14.0 |
|
|
|
|
|
|
|
|
Maintenance and other |
234 |
231 |
291 |
60 |
26.0 |
|
Investments with 1% incentive |
101 |
92 |
108 |
16 |
17.4 |
|
Investments with no incentives |
133 |
139 |
183 |
44 |
31.7 |
|
|
926 |
902 |
892 |
(10) |
(1.1) |
Investments in 2011 amounted to €892 million, a decrease of €10 million, or -1.1%, compared with 2010 (€902 million).
Investments were classified in accordance with Resolution ARG/gas 184/09 of the Electricity and Gas Authority, which identified various categories of project with different incentive levels.
A total of 79% of these investments are expected to benefit from incentive-based return. The breakdown of investments in 2011 by category will be submitted to the Authority when the tariffs are approved for 2013.
The main investments with a 3% incentive (€356 million) were:
- the continuation of construction work on the main line of the Massafra-Biccari pipeline in Puglia and Basilicata as part of the new transportation infrastructure project on the Adriatic coast (€101 million);
- the continuation of construction work on the Poggio Renatico-Cremona pipeline in Emilia-Romagna and Lombardy as part of the project to upgrade the transportation infrastructure in the Po Valley (€91 million);
- the continuation of construction work as part of the project to upgrade the import infrastructure in Sicily and Calabria (€85 million): (i) renovation work and equipment at the Enna station in Sicily; (ii) the continuation of construction work and materials for the upgrading of the Montesano station in Campania; and (iii) completion works on the sections already in service and construction of the tunnel section of the Montalbano-Messina pipeline in Sicily;
- the construction of infrastructure to connect with the Offshore LNG Toscana (OLT) regasification terminal at Livorno (€50 million) on the coast of Tuscany;
The main investments with a 2% incentive (€245 million) were:
- as part of the project to upgrade the transportation infrastructure in the Po Valley (€116 million): (i) the continuation of construction work on the Cremona-Sergnano pipeline in Lombardy; and (ii) the materials and the continuing purchase of permits for the Zimella-Cervignano pipeline in Veneto and Lombardy;
- construction work on various pipelines and associated connections as part of the natural gas conversion project in Calabria (€23 million).
The main investments with a 1% incentive (€108 million) involved several projects aimed at maintaining adequate safety and quality levels at the plants.
Investments with no incentives (€183 million) included projects to replace assets and plants, as well as projects relating to the implementation of new IT systems, the development of existing ones and the purchase of other key operating assets.
