7. Cash and cash equivalents
Cash and cash equivalents, which amount to €17 million (€74 million at 31 December 2014), relate to current account deposits with credit institutions and mainly refer to Gasrule Insurance Ltd, the Group’s captive insurance company (€15 million). The change compared with 31 December 2014, amounting to €57 million, mainly reflects the use of the deposit account (€47 million) created in 2014 to close the acquisition by Italgas S.p.A. of 51% of Acam Gas S.p.A.10 on 1 April 2015.
Cash and cash equivalents are not subject to any usage restrictions.
A comprehensive analysis of the financial situation and major cash commitments during the year can be found in the cash flow statement.
10 For more information on this acquisition, please see the section “Business segment operating performance – Natural gas distribution” in the Directors’ Report.