INVESTMENTS
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|
(€ million) |
2010 |
2011 (*) |
2012 |
Change |
% change | ||
| |||||||
|
Development |
671 |
601 |
426 |
(175) |
(29.1) | ||
|
Investments with 3% incentive |
456 |
495 |
340 |
(155) |
(31.3) | ||
|
Investments with 2% incentive |
215 |
106 |
86 |
(20) |
(18.9) | ||
|
|
|
|
|
|
| ||
|
Maintenance and other |
231 |
291 |
274 |
(17) |
(5.8) | ||
|
Investments with 1% incentive |
92 |
108 |
131 |
23 |
21.3 | ||
|
Investments with no incentive |
139 |
183 |
143 |
(40) |
(21.9) | ||
|
|
902 |
892 |
700 |
(192) |
(21.5) | ||
Investments in 2012 amounted to €700 million, a decrease of €192 million, or 21.5%, compared with 2011 (€892 million).
Investments were classified in accordance with Resolution ARG/gas 184/09 of the Electricity and Gas Authority, which identified various categories of projects with different incentive levels.
A total of 80% of investments are expected to benefit from incentive-based returns. The breakdown of investments by category for 2011 and 2012 will be submitted to the Authority when it approves the tariff proposals for 2013 and 2014. The breakdown for 2014 may differ from that in the current regulatory period, which ends on 31 December 2013.
The main investments with a 3% incentive (€340 million) were:
- upgrade of transportation infrastructure in Valle Padana (€183 million);
- upgrade of import infrastructure in Sicily and Calabria (€48 million);
- new transportation infrastructure on the Adriatic coast (€27 million);
- connection of the Offshore LNG Toscana (OLT) regasification terminal at Livorno (€26 million);
- completion of construction work on the Palaia-Collesalvetti gas pipeline in Tuscany (€16 million).
The main investments with a 2% incentive (€86 million) were:
- natural gas projects in Calabria (€15 million);
- completion of construction works on the methane pipeline connecting the Edison Gas storage plant in Collalto, Veneto (€7 million).
The main investments with a 1% incentive (€131 million) involved projects aimed at maintaining adequate safety and quality levels at the plants.
Investments with no incentives (€143 million) included projects to replace assets and plants, as well as projects relating to the implementation of new IT systems, the development of existing assets and the purchase of other key operating assets.
