20 Trade and other payables
Trade and other payables of €1,898 million (€1,477 million at 31 December 2012) comprise:
| Download XLS (22 kB) |
|
(€ million) |
31.12.2012 |
31.12.2013 |
|
Trade payables |
764 |
1,047 |
|
Payables for investment activities |
406 |
379 |
|
Other payables |
307 |
472 |
|
|
1,477 |
1,898 |
Trade payables of €1,047 million (€764 million at 31 December 2012) relate mainly to the natural gas transportation (€757 million, including €619 million relating to gas balancing activities), storage (€134 million) and distribution (€99 million) business segments.
Payables for investment activities of €379 million (€406 million at 31 December 2012) refer mainly to the natural gas transportation (€186 million), distribution (€96 million) and storage (€65 million) business segments.
Other payables of €472 million (€307 million at 31 December 2012) break down as follows:
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|
(€ million) |
31.12.2012 |
31.12.2013 |
|
IRES payables for the national tax consolidation scheme |
7 |
1 |
|
Other payables: |
|
|
|
- Payables to the Electricity Equalisation Fund |
179 |
330 |
|
- Payables to employees |
46 |
50 |
|
- Payables to pension and social security institutions |
29 |
32 |
|
- Payables to the government |
9 |
25 |
|
- Payments on account and advances |
5 |
5 |
|
- Other |
32 |
29 |
|
|
300 |
471 |
|
|
307 |
472 |
Payables to the Electricity Equalisation Fund (€330 million) concern accessory tariff components that mainly relate to: (i) the transportation business segment (measures and steps for energy savings and the development of renewable sources in the natural gas sector, fees arising from application of revenue guarantees for the storage service and subsidised tariffs for disadvantaged gas customers), pursuant respectively to Electricity and Gas Authority Resolutions ARG/gas 177/10, ARG/gas 29/11 and ARG/com 93/10 (€208 million), and from the application of Resolutions 351/2012/R/gas and 520/2013/R/gas for the recovery of the resources necessary to cover the expenses connected with the gas system balancing system (€39 million); (ii) the storage segment (coverage of the equalisation imbalances account), pursuant to Resolution 50/06 (€16 million); and (iii) the distribution segment (energy savings, gas service quality, equalisation imbalances and disadvantaged customers), mainly pursuant to Resolution ARG/gas 159/08 (€67 million).
Payables to the government (€25 million) primarily involve payables to municipalities for concession fees for the distribution business.
The fair value measurement of trade and other payables has no material impact given the short period of time between when the payable arises and its due date.
Note 38 “Related-party transactions” contains information about payables due to related parties.