TRANSPORTATION

 

REGASIFICATION

 

STORAGE

 

DISTRIBUTION

(*)

The rate of return on net invested capital (WACC) in force as of 1 January 2016 was set by the Authority by means of Resolution 583/2015/R/com of 2 December 2015, “Rate of return on invested capital for infrastructural services in the electricity and gas sectors: calculation and updating criteria”. The duration of the WACC regulatory period for infrastructural regulations in the gas sector is set at six years (2016-2021), and a mechanism is provided to update the rate halfway through the period according to the economic situation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

End of regulatory period (TARIFFS)

31 December 2017

 

31 December 2017

 

31 December 2018

 

31 December 2019

 

 

Calculation of net invested capital recognised for regulatory purposes (RAB)

Revalued historical cost

 

Revalued historical cost

 

Revalued historical cost Deduction of restoration costs

 

Revalued historical cost Parametric centralised asset method

 

 

Return of net invested capital recognised for regulatory purposes (pre-tax WACC)

6.3% 2015
5.4% 2016-2017 (*)

 

7.3% 2015
6.6% 2016-2017 (*)

 

6.0% 2015
6.5% 2016-2018 (*)

 

Distribution
6.9% 2015
6.1% 2016-2018 (*)

 

 

 

 

 

 

 

 

Metering
7.2% 2015
6.6% 2016-2018 (*)

 

 

Incentives on new investments

+1% for 7 years
(regional network development investments)
+1% for 10 years
(national network development investments)
+2% for 10 years
(entry point development investments)

 

+2% for 16 years
(new terminals or expanding existing terminal capacity >30%)

 

20% withholding for 8 years for revenues in excess of revenue recognised resulting from insolvency procedures

 

 

 

 

Wacc +1% on new investments made after 31 December 2013 to offset regulatory time lag

 

Wacc +1% on new investments made after 31 December 2013 to offset regulatory time lag

 

Return on investments t-1 to offset the regulatory time lag (from 2014)

 

Return on investments t-1 to offset the regulatory time lag (from 2013)

 

 

Efficiency factor (X FACTOR)

2.4% – on operating costs

 

0%

 

To be defined by the next provision from the Authority

 

1.7% – on distribution operating costs

 

 

 

 

 

 

 

0.0% – on metering operating costs