Significant events after the balance sheet date

SAO - Approval of the Area Plan for the integrated urban waste management service

With Resolution no. 2 of 16 January 2013, the General Meeting of Umbria Region ATI no. 4 approved the Annual Plan for the integrated urban waste management service, pursuant to Regional Law no. 11/2009. That plan was published on the court notice board of ATI4 on 30 January 2013; with Resolution no. 1 of 16 January 2013, the same general meeting approved the new plant access tariffs. The company checked the impacts of the approved Plan and deemed it essentially compatible with the forecasts it developed; at the same time, dialogue continued between plant operators, set forth in the aforementioned Planning, with the intention of finalising the contractual agreements concerning the management of urban and special waste generated by their treatment. At that time, the ATI was requested to incorporate a necessary update to the timing for the execution and entry into operation of the waste treatment plant revamping project, in consideration of the fact that the regulatory framework was stabilised only after approval of the Area Plan and plant access tariff.

Also in January, the company notified the ATI of the breakdown of tariffs applicable as from 1 January 2013 as a result of the ATI’s approval of the Area Plan and the connected Economic-Financial Plan, as well as the plant access tariffs. In order to favour the gradual adaptation to the new tariffs by municipalities, the ATI asked the Company to formulate a technical-economic proposal for tariff application for the year 2013, in order to take into due consideration the previously approved transfer of a quantity of special waste, equal to 7,000 tonnes/year, coming from the area of the same ATI, as well as additional transfers of special waste to be included, only for the year 2013, in Area Planning.

 

Update to the By-Laws

On 24 January 2013, the Acea S.p.A. Board of Directors approved an update to the By-Laws in compliance with the provisions of Law no. 120 of 12 July 2011 concerning the balance between genders in the composition of the Board of Directors and the Board of Statutory Auditors. The compulsory amendments provided for by the Law were therefore made with respect to articles 15 and 22 of the Company’s By-Laws.

 

Resolution no. 38/2013/R/idr of 31 January 2013

On 31 January, AEEG approved a measure for the definition of criteria to calculate the amounts to be returned to water end users, relative to the return on invested capital and paid in the period after the Referendum of 12-13 June 2011 (from 21 July to 31 December 2011).

The Document follows the opinion that the Authority had requested from the Council of State, on the exact time of the initiation of its powers in terms of water tariffs. That opinion noted that the tariffs applied from 21 July 2011 to 31 December 2011, not covered by the temporary tariff method, are not consistent with the results of the referendum referred to above.

To identify the portion of the tariff to be returned to end users, AEEG intends to follow the criteria already used to define the Temporary Tariff Method, which covers 2012-2013 and incorporates the effects of the abrogative referendum. Such criteria have also been confirmed by on opinion of the Council of State, according to which compliance with the full cost recovery principle must in any case be ensured during the rebate activity.

In particular, the Authority shall establish the criteria based on which the Area Authorities will have to identify the amounts corresponding to the return on invested capital and it shall define the methods and operating instruments which can ensure that the amounts due are actually returned.