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

Half-yearly financial report at June 30, 2013Changes in legislationEnergy SectorRecent changes in legislation in the electricity sectorLarge hydroelectric derivation concessions172Changes in legislation over the past few years have mainly led to the continuation by A2A of itsconcessions and principally regard the introduction of certain provisions facilitating tendersand regulating the means by which concessions are transferred from the outgoing to theincoming manager. By way of Decree Law no. 83 of June 22, 2012 (the “Development DecreeLaw”), the government issued a number of regulations designed to facilitate the way in whichtenders are carried out. More specifically, article 37, paragraph 4 confirms the period of 5years before the expiry of the concession as being the time limit within which a tender must becalled and sets the term of future concessions in 20 years, extendible to 30 years depending onthe size of the investments granted and the criteria that will be established by the ministerialdecree being issued under article 12, paragraph 2 of Legislative Decree no. 79/99 as amended.In addition, a special transitional regime is provided for calling tenders for concessions whichhad expired at the date when the law converting the decree became effective and thoseexpiring on or before December 31, 2017 (those which are unable to comply with the 5 yearperiod for calling the tender). These tenders must be called within 2 years of the effective dateof the ministerial decree for implementation (as per article 12, paragraph 2 of LegislativeDecree no. 79 of March 16, 1999). The new concession shall start at the end of the fifth yearfollowing the original expiry date and in any case not later than December 31, 2017.In terms of the way in which the concession will pass from the outgoing to the incomingoperator, the legislator has opted for the sale of a business against the payment of a pricewhich has been previously established and agreed between the outgoing operator and thegranting administration before the offering stage and which is published in the tender offer.The ministerial decree has the responsibility for determining the technical and economic