Half-yearly financial Report at June 30, 2013 - A2A

Half-yearly financial report at June 30, 2013Other informationA2A S.p.A., the owner of the production site, ordered the precautionary suspension of theemployee concerned and a freezing of the payments of the invoices issued by the biomasssuppliers, which, to its knowledge, are involved in the investigations.The investigation initiated by the Trieste Judicial Authority has not yet been completed andtherefore the information needed to determine the effect of any illegal conduct has not yetbeen made available. Nevertheless the A2A Group, and in particular A2A Trading S.r.l. mayincur damages, at their sole expense, arising from the qualitative and quantitative differencesin the biomasses, since there is the risk for the latter, as toller and in charge of the plant’sdispatch, that on completion of the preliminary stage it may incur increased costs for thebiomasses not delivered and increased costs for incorrectly stating the calorific value of thebiomasses, delivered and not delivered.To this should be added that the increased use of coal instead of biomasses could as aconsequence have an increase in the environmental costs relating to the second half of 2009and the whole of 2010, as well the need to reimburse the additional income or environmentalallowances recognized with respect to the real income or allowances (reference here is toGreen Certificates). In fact for 2009 and 2010 the company may have filed declarationsgenerating environmental allowances that are greater than those actually produced, as thecalculation may have been affected by considering a biomass energy to conventional sourceenergy ratio that is mistakenly higher than the real figure.133If this were the case, the company would have to file corrections to the above-mentioned pastdeclarations and reimburse the income relating to environmental allowances that may haveadditionally been recognized.Further, in accordance with the procedures and modalities required, A2A Trading S.r.l. hasfiled a request with the GSE to obtain Green Certificates relating to 2011 in which thecalculation has been made on the basis of the real quantities of biomasses delivered to thepower station and, in agreement with the Public Prosecutor, by taking into account a possiblefalse increase of 20% in the calorific values of such. Despite the fact that the GSE hasacknowledged the correctness of the calculations made by A2A Trading S.r.l. for 2011, as oftoday the above-mentioned 2011 Green Certificates have not yet been issued.As things currently stand, given that the investigations have not yet been completed and thatthere is still insufficient information relating to the illegal conduct, it is impossible to estimatethe potential liability.In conclusion, as the aggrieved party the A2A Group will protect its interests in all theappropriate places, requesting compensation for any damages it may have suffered.