12 Other current assets
Other current assets of €95 million (€115 million at 31 December 2012) comprise:
| Download XLS (22 kB) |
(€ 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.