Annual Report 2011 - Snam

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38Snam Annual Report 2011 / Natural gas transportationThe method for updating the price cap tariffs is applied to revenue relating to operating costs and isequal to approximately 15% of the revenues in question, which are updated for inflation and decreasedby an annual recovery coefficient set at 2.1% (3.5% in the previous regulatory period). The revenuecomponents which are related to returns and amortisation and depreciation are determined on thebasis of the annual update of net capital invested (RAB). In particular, in the third regulatory period, theamortisation and depreciation is deducted from the price-cap mechanism and calculated on the basis ofthe useful economic and technical life of the transport infrastructure which is 50 years (40 years in theprevious regulatory period).The tariff structure is based on an entry/exit model and was confirmed for the third regulatory period aswell, together with the capacity fee for the metering service.Finally, fuel gas is treated as a pass-through cost which is payable in kind by the users and is excludedfrom the price cap mechanism.Resolution ARG/gas 218/10 - “Approval of the tariff proposals for natural gas transportation and dispatch,the transitory fee for the gas transportation metering service for 2011 in implementation of the provisionsset forth in Resolution ARG/gas 184/09 issued by the Electricity and Gas Authority on 1 December 2009.”Based on the criteria described, the Electricity and Gas Authority approved the transportation, dispatchand metering tariffs for 2011 with Resolution ARG/gas 218/10.The tariffs were determined on the basis of the base revenues which amounted to €1,817 million netof the third party portion (of which €113 million relate to development investment incentives andapproximately €36 million to revenues associated with system balancing costs).The revenues in effect from 2011 have taken into account the increase in volumes transported comparedto the base amount of 75.7 billion cubic metres.Furthermore, the amount payable to the company for higher costs incurred for the purchase of fuel gasfrom 1 October 2008 to 31 December 2009 was set at €54.9 million.The RAB as at 31 December 2009 for transportation, dispatch and metering amounts to €13.1 billion.Resolution ARG/gas 45/11 - “Regulation for the financial balancing of natural gas”.By this resolution, published on 14 April 2011, the Authority intended to reform the regulation ofdispatch, transportation and storage of natural gas from 1 July 2011, a date postponed to 1 December2011 by Resolution ARG/gas 81/11 published on 23 June 2011, by introducing a new balancing regimebased on market criteria and attributing Snam Rete Gas, as the majority transportation company, therole of company responsible for balancing. This role provides Snam Rete Gas with an obligation toacquire, according to criteria of financial merit, the resources necessary to guarantee the safety andefficient movement of gas from entry points to the withdrawal points, in order to maintain the constantequilibrium of the network.The provision provides for an initial phase of simplified balancing, which does not amend the currentmethods of physical dispatching on the network and is based on using the stock of users as the solebalancing resource, selected according to criteria of financial merit. Starting from early 2012, theresolution also set out an extension of the regulatory framework aimed at developing the discipline ofthe balancing service.Snam Annual Report 2011
Snam Annual Report 2011 / Natural gas transportation39Resolution ARG/gas 178/11 - “Approval of the tariff proposals for natural gas transportation and dispatch,and the transitory fee for the gas transportation metering service for 2012 in implementation of theprovisions set forth in Resolution ARG/gas 184/09 issued by the Electricity and Gas Authority on 1 December2009”.The Authority approved the transportation, dispatch and metering tariffs for 2012 by Resolution ARG/gas 178/11.The tariffs were determined on the basis of the base revenues which amounted to €1,862 million netof the third party portion (of which approximately €113 million relate to development investmentincentives and approximately €41 million to revenues associated with system balancing costs).The revenues in effect in 2012 will have to take account of the increase in volumes transported comparedto the base amount of 75.7 billion cubic metres.The RAB as at 31 December 2010 for transportation, dispatch and metering amounts to €13.7 billion.Snam Annual Report 2011
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216Independent auditors’ reportSn
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Annual Report 2011 - Snam

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