10 Other current assets

Other current assets of €33 million (€71 million at 31 December 2010) comprise:

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(€ million)



Accrued income from regulated activities






Other current assets:



- Prepayments









Accrued income from regulated activities of €11 million relates to: (i) penalties for the 2007-2008 thermal year under the Resolution ARG/gas 27/10, repaid to users of the transportation service during 2011 and to be recovered by tariff adjustment (€6 million); (ii) the current portion (€5 million) of 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 business15.

Prepayments (€22 million) mainly refer to the settlement to be received in kind from the users of the natural gas transportation service, calculated as the difference between the quantities of fuel gas used in 2010 for the provision of the service and the quantities allocated by the users in the same year, pursuant to Resolution ARG/gas 184/09 (€16 million).

15 The recognition of such assets follows Resolutions VIS 8/09, ARG/gas 184/09 and ARG/gas 218/10, whereby the Electricity and Gas Authority recognised the additional expenses borne by the company respectively in the 2005-2006 and 2006-2007 thermal years (€45 million overall), the 2007-2008 thermal year (€34 million) and the period from 1 October 2008 – 31 December 2009 (€ 55 million). Pursuant to article 6 of Resolution ARG/gas 184/09, the recognition of the additional costs is subject to equalisation with the users through tariff adjustment: (i) starting from 1 January 2010 for the additional costs sustained in thermal years 2005-2006, 2006-2007 and 2007-2008; (ii) starting from 1 January 2011 for the additional costs sustained by the company during the period 1 October 2008 - 31 December 2009.

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