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

Half-yearly financial report at June 30, 2013Notes to the balance sheetThe Ministry decided not to comply fully with the opinion of the AEEG in the case of thesetwo years either. The decree requires that for the conventional component relating to theprice of the fuel (CEC gas), the figure for the Avoided Fuel Cost which is to be recognized onaccount until the annual settlement balance has been set, should be calculated for 2013 onthe basis of the reference basket pursuant to Law no. 99 of July 23, 2009, where the weightof the oil products is gradually reduced in each quarter (set at eighty per cent in the firstquarter, seventy per cent in the second quarter and sixty per cent in the third and fourthquarters). For each quarter the complement to arrive at a hundred per cent is to bedetermined on the basis of the procurement cost of the natural gas on the wholesalemarkets as determined by Resolution no. 196/2013/R/gas of May 9, 2013 and by the otherprovisions of the Electricity and Gas Authority. By means of a provision to be adoptedwithin 60 days of the effective date of the legislation converting the decree into law on theproposal of the Electricity and Gas Authority, the means by which this amount is to beupdated shall be established, for on account and settlement payments, together with themeans of publishing the amounts identified in accordance with the criteria in paragraphs 4and 5. For 2013, the legislation confirms the current means by which the componentrelating to the wholesale marketing margin (CEC com) and the transport component (CECtrans) are calculated, as well as the specific consumption amounts pursuant to the Decreeof November 20, 2012.85As an exception to the above provisions, for waste to energy plants admitted to theframework pursuant to the CIP 6/1992 provision, which at the date on which the presentdecree becomes effective have been in use under the convention for a period of less than orequal to eight years (this includes the Acerra plant), the CEC shall be determined on thebasis of the reference basket pursuant to Law no. 99/2009, in which the weight of oilproducts is sixty per cent.Given the above legislative developments, at June 30, 2013 the Group released the provisionsit had recognized at December 31, 2012.Provisions for risks at June 30, 2013 also include the total cost of the business restructuringplan for the future exit of employees under the Redundancy scheme, amounting to 22 millioneuro. Further details of the business restructuring plan can be found in the section“Significant events during the period” of this Half-yearly financial report.