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Significant Events after Year-End

  • In adapting the renewable sources incentive system, Italian Finance Bill 2008 has established an increased mandatory quota of input of energy produced by renewable sources equivalent to 0.75% in the period 2007-2012. This obligation regards electricity producers and importers from traditional sources.
  • On 23 January the European Commission set a goal for Italy equal to 17% consumption of energy produced from renewable sources on the total of national consumption within the sphere of allocating continental energy and environmental policy goals. This goal is binding, and must be attained by 2020.
  • In January 2008 the Council of State admitted the claim of the Authority for Electrical Energy and Gas (AEEG) against cancellation of resolution no. 249/2006, which revised the avoided fuel cost acknowledged to producers, bringing about a significant cutback. The avoided fuel cost established by resolution no. 249/2006 that varies, depending on the date the plants go into operation, between Euro 53.10 per MWh and Euro 60.50 per MWh, will have to go into effect starting in 2007. This will bring about a reduction of the price of sale paid to Cip 6 producers, until now calculated applying an avoided fuel cost of Euro 73.20 per MWh, and a reduction of the price of the green certificates pertaining to the electrical services operator issued in 2007, estimated at about Euro 13.50 per MWh (new price equal to about Euro 124 per MWh).
  • Public consultation on the National Allocation Plan for 2008-2012 scheme was concluded on 24 January.
  • On 13 February the Galsi shareholders formalised the pro-quota purchase of the shares held by shareholder Wintershall, which had previously expressed its desire to leave the company. Now Hera Trading Srl’s shareholding in Galsi Spa has reached 10.4%.