2005 - 2006 - Pinsent Masons Water Yearbook 2012

ITALY PART 2: COUNTRY ANALYSIS
Privatisation developments
Genoa SpA (Amga) was partially floated in 1996, along with Rome’s ACEA and Como’s ASCM,
Trieste’s Acegas and Brescia’s ASM. These municipalities have been lowering their stakes over time.
ACEA’s Acqua Italia has started rationalising water services in Genoa after acquiring the smaller
companies serving the city. A second wave of ATO IPOs and mergers is gathering momentum.
Preparations for the privatisation of Acquedotto Pugliese (AP) are underway after four years of
delays. The Apulia region holds 87.2% of AP’s capital, while 12.8% belongs to Basilicata. AP serves
more than four million people. Enel has been seeking to acquire AP since 2000.
MAJOR CITIES
Population 2000 2015 Status
Milan 4,251,000 4,251,000 Corporatised, preparing for a partial float
Naples 3,012,000 3,012,000 Stake in Arin SpA sold to Italgas in 2000
Rome 2,649,000 2,649,000 49% of ACEA floated
Turin 1,294,000 1,294,000 Corporatised, preparing for a partial float
Genoa 890,000 890,000 49% of AMGA floated
Florence 778,000 778,000 Partly privatised
Entity 2001 revenues
(€million)
Supply (m
m 3 pa)
Population
Served
Municipalities
Served
AQP, Puglia & Basilicata (public) 346 244 4,345,000 338
ACEA, Rome (semi private) 248 385 3,000,000 66
Italgas/ENI 119 342 2,020,000 283
CAP, Milan, Lodi & Pavia
85 220 1,650,000 194
(public)
AAM, Turin (public) 52 161 1,243,000 38
Hera, Bologna (semi-private) 52 74 764,000 47
AMGA, Genoa (semi-private) 45 41 760,000 90
Private sector contracts awarded (Please see the relevant company entry for details)
Location Contract Company
Arezzo 25 year concession award Suez/Amga
Asti 30 year water and wastewater concession Amga
Bologna 44% sale of Hera Spa in 2003 Hera
Brescia 25% stake sale of ASM Brescia in 2002 ASM Brescia
Calabria 30 year water and sewerage concession So Ri Cal
Como 49% stake sale of ASCM in 2000 ASCM Como
Florence 35 year concession award ACEA/Suez
Frosinone 30 year water and wastewater concession Acea
Genoa 49% stake sale of Amga in 1996 Amga Spa
Latina 30 year water and wastewater concession VE
Massa Water and sewerage concession Camuzzi
Modena 22% sale of Meta Modena Spa in 2003 Meta Modena
Naples JV for water services Italgas
Perugia 30 year concession award SAUR
Pisa 30 year concession award ACEA/Suez
Pavoda & Vicenza ATO merger Acegas
Rome 49% stake sale of ACEA in 1999 ACEA Spa
Siena/Grosetto 25 year concession award ACEA/Suez
Terni 30 year water and wastewater concession Severn Trent
Trieste 49% stake sale of Acegas, 2001 Acegas
Vercelli Acquisition of Atena ATO Amga
124 Pinsent Masons Water Yearbook 2005 – 2006