12 Trade and other payables
Trade and other payables of €1,313 million (€1,769 million at 31 December 2014) comprise the following:
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31.12.2014 |
30.06.2015 |
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Maturity |
Maturity |
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|
(€ million) |
Within 1 year |
Beyond 1 year |
Total |
Within 1 year |
Beyond 1 year |
Total |
|
Trade payables |
816 |
|
816 |
617 |
|
617 |
|
Payables for investment activities |
440 |
|
440 |
306 |
|
306 |
|
Other payables |
513 |
|
513 |
390 |
|
390 |
|
|
1,769 |
|
1,769 |
1,313 |
|
1,313 |
Trade receivables of €617 million (€816 million at 31 December 2014) relate mainly to the natural gas transportation (€421 million, including €348 million relating to gas balancing activities), distribution (€126 million) and storage (€28 million) business segments.
Payables for investment activities of €306 million (€440 million at 31 December 2014) relate mainly to the natural gas transportation (€156 million), distribution (€69 million) and storage (€51 million) business segments.
Other payables of €390 million (€513 million at 31 December 2014) break down as follows:
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31.12.2014 |
30.06.2015 |
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Maturity |
Maturity |
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|
(€ million) |
Within the year |
Beyond the year |
Total |
Within the year |
Beyond the year |
Total |
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IRES payables for the national tax consolidation scheme |
1 |
|
1 |
|
|
|
|
Other payables: |
512 |
|
512 |
390 |
|
390 |
|
- Payables to the Electricity Equalisation Fund |
340 |
|
340 |
244 |
|
244 |
|
- Payables to employees |
66 |
|
66 |
42 |
|
42 |
|
- Payables to the government |
38 |
|
38 |
43 |
|
43 |
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- Payables to pension and social security institutions |
36 |
|
36 |
31 |
|
31 |
|
- Payments on account and advances |
4 |
|
4 |
4 |
|
4 |
|
- Other |
28 |
|
28 |
26 |
|
26 |
|
|
513 |
|
513 |
390 |
|
390 |
Payables to the Electricity Equalisation Fund (€244 million) relate mainly to accessory tariff components relating to the natural gas transportation (€221 million) and distribution (€19 million) business segments.
Payables to the government (€43 million) primarily involve payables to municipalities for concession fees for the distribution business.
Note 27 “Related-party transactions” contains information about payables due to related parties.
The book value of trade and other payables is close to the relative fair value measurement, given the short period of time between when the payable arises and its due date.