13 Trade and other payables
Trade payables and other payables, which amount to €1,221 million (€1,264 million at 31 December 2016) comprise the following
| Download XLS (22 kB) |
(€ millions) |
31.12.2016 |
30.06.2017 |
Trade payables |
433 |
329 |
Payables for investment activities |
384 |
296 |
Other payables |
447 |
596 |
|
1,264 |
1,221 |
Trade payables (€329 million; €433 million at 31 December 2016) relate mainly to the natural gas transportation (€236 million, including €138 million relating to gas balancing activities) and storage (€37 million) business segments.
Payables for investment activities (€296 million; €384 million at 31 December 2016) relate mainly to the natural gas transportation (€232 million), and storage (€41 million) business segments.
Other payables of €596 million (€447 million at 31 December 2016) break down as follows:
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(€ millions) |
31.12.2016 |
30.06.2017 |
IRES payables for the national tax consolidation scheme |
2 |
1 |
Other payables |
445 |
595 |
- Payables to the Electricity Equalisation Fund (CSEA) |
381 |
551 |
- Payables to employees |
26 |
15 |
- Payables to pension and social security institutions |
16 |
13 |
- Consultants and professionals |
8 |
4 |
- Payables to the government |
|
1 |
- Other |
14 |
11 |
|
447 |
596 |
Payables to the CSEA (€551 million) mainly refer to accessory tariffs for the transportation segment.
The item “Others” mainly involves payables to corporate segment insurance companies (€3 million) and payments on account and advances (€3 million).
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.