14 Trade and other payables

Trade and other payables of €1,274 million (€1,898 million at 31 December 2013) comprise:

Trade receivables of €627 million (€1,047 million at 31 December 2013) relate mainly to the natural gas transportation (€390 million, including €297 million relating to gas balancing activities), storage (€99 million) and distribution (€90 million) business segments.

Payables for investment activities of €341 million (€379 million at 31 December 2013) refer mainly to the natural gas transportation (€164 million), distribution (€73 million) and storage (€73 million) business segments.

Other payables of €306 million (€472 million at 31 December 2013) break down as follows:

Payables to the Electricity Equalisation Fund (€150 million) relate mainly to accessory tariff components relating mainly to the natural gas transportation (€126 million) and distribution (€17 million) business segments. Amounts collected from Snam are paid, in equal amounts, to the EEF.

Payables to the government (€50 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 30 “Related-party transactions” contains information about payables due to related parties.