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

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Half-yearly financial report at June 30, 2013Changes in legislationOther measures of interestDecree Law no. 1/2013, effective from January 14, 2013, ratified the extension to December 31,2013 of the possibility of disposing of special urban waste with Pci > 13,000 kj/kg in a landfill.Developments in the regulation of the CIP 6/92 conventionsBy way of the Decree of April 24, 2013, the Ministry of Economic Development calculated thesettlement balance for the Avoided Fuel Cost (CEC) for 2012, applying the method establishedin the Decree of November 20, 2012.However the Ministry established that the proposal as per Opinion no. 535/12 of the AEEGwould not be applicable to that year; the proposal recommended linking the gas CEC tomovements in gas prices on the balancing market and to remove from the formula (in both thesettlement and the installments for the individual quarters) the component relating to thewholesale marketing margin (CEC com).By way of Decree Law no. 69 of June 21, 2013 on “Urgent provisions to boost the economy”, thegovernment returned to the matter, introducing important provisions at article 5, among theother measures concerning the energy sector, for determining the formula for calculating theCEC for 2013 and 2014. Parliamentary work to convert the decree into law is currently still inprogress.179The decree requires that for the conventional component relating to the price of the fuel (CECgas), the figure for the Avoided Fuel Cost which is to be recognized on account until the annualsettlement balance has been set, should be calculated for 2013 on the basis of the referencebasket pursuant to Law no. 99 of July 23, 2009, where the weight of the oil products is graduallyreduced in each quarter (set at eighty per cent in the first quarter, seventy per cent in thesecond quarter and sixty per cent in the third and fourth quarters). For each quarter thecomplement to arrive at a hundred per cent is to be determined on the basis of theprocurement cost of the natural gas on the wholesale markets as determined by Resolution no.196/2013/R/gas of May 9, 2013 and by the other provisions of the Electricity and Gas Authority. Bymeans of a provision to be adopted within 60 days of the effective date of the legislationconverting the decree into law on the proposal of the Electricity and Gas Authority, the meansby which this amount is to be updated shall be established, for on account and settlementpayments, together with the means of publishing the amounts identified in accordance with thecriteria in paragraphs 4 and 5. For 2013, the legislation confirms the current means by which thecomponent relating to the wholesale marketing margin (CEC com) and the transportcomponent (CEC trans) are calculated, as well as the specific consumption amounts pursuantto the Decree of November 20, 2012.
Half-yearly financial report at June 30, 2013Changes in legislationAs an exception to the above provisions, for waste to energy plants admitted to the frameworkpursuant to the CIP 6/1992 provision, which at the date on which the present decree becomeseffective have been in use under the convention for a period of less than or equal to eight years(this includes the Acerra plant), the CEC shall be determined on the basis of the referencebasket pursuant to Law no. 99/2009, in which the weight of oil products is sixty per cent.180
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Half-yearly financial Report at June 30, 2013 - A2A

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