1. Revenues from sales and services – 2,931,592 thousand euros

This item reported an overall decrease of 271,978 thousand euros (-8.5%) compared to 31 December 2013 which closed with a total of 3,203,569 thousand euros.

The breakdown of this item is provided in the following table.

€ thousand

31.12.2014

31.12.2013 Restated

Increase / (Decrease)

Increase / (Decrease) %

Revenue from electricity sales and services

2,101,452

2,417,094

(315,643)

(13.1%)

Revenue from gas sales

59,015

63,780

(4,765)

(7.5%)

Revenue from sale of certificates and rights

21,633

16,373

5,261

32.1%

Revenue from Integrated Water Service

580,374

535,988

44,385

8.3%

Revenue from Overseas Water Services

7,707

10,409

(2,702)

(26.0%)

Revenue from biomass transfer and landfill management

39,419

36,382

3,037

8.3%

Revenue from services to customers

93,516

95,011

(1,495)

(1.6%)

Connection fees

28,476

28,531

(55)

(0.2%)

Revenue from sales and services

2,931,592

3,203,569

(271,978)

(8.5%)

Revenue from electricity sales and services

This item amounted to 2,101,452 thousand euros, and net of intercompany eliminations, essentially consist of the following items:

€ thousand31.12.201431.12.2013 RestatedIncrease / (Decrease)Increase / (Decrease) %
Electricity and heat generation 38,357 45,189 (6,832) (15.1%)
Electricity sales 1,613,799 1,911,630 (297,831) (15.6%)
Transport and metering of energy 403,799 414,078 (10,279) (2.5%)
Energy sales from WTE 42,387 45,041 (2,654) (5.9%)
Energy from photovoltaic plants 556 1,156 (601) (52.0%)
Cogeneration 2,554 0 2,554 100.0%
Total Revenue from electricity sales and services 2,101,452 2,417,094 (315,643) (13.1%)

The major changes refer to:

  • The decrease in revenue from electricity and heat generation amounting to 6,832 thousand euros was mainly driven by the district heating sector following the decline of market prices under the expected minimum levels, leading to the suspension of production of the combined cycle process of the Tor di Valle plant, as well as the lower amounts of heat produced (73.1 GWht in 2014 compared to 76.6 GWht in 2013). It is pointed out that during the year, Acea Produzione, by its directly owned plants, recorded a production volume totalling 498.1 GWh (+ 2.2 GWh compared to 2013);
  • The reduction of revenue deriving from energy sales of 297,831 thousand euros was the direct consequence of the fall in electricity sales and in the Enhanced Protection Market (-7.2%) as well as in the free market service (-15.9%). Electricity sales in the Enhanced Protection Market totalled 3,000 GWh. The number of withdrawal points totalled 1,023,316 (1,071,557 as at 31 December 2013). The reduction is related to the opening up of the market following the liberalisation process, now practically completed. Electricity sales on the free market was 7,887 GWh for 346,908 withdrawal points recorded at 31 December 2014 (there were 301,276 at 31 December 2013);
  • Revenue from the transport and metering of energy for the Enhanced Protection Market and free market fell by 10,279 thousand euros. This lower revenue is mainly due to the different value attributed to the tariff parameters. as well as the combined effect of the reduced electricity fed into the grid and the reduction of the amounts. Overall equalisation was substantially in line with 2013 (+527 thousand euros), while with reference to the markets served, it is pointed out that with regard to the free market, there was a decrease of 0.53% in the amounts distributed, falling from 7,410 GWh as at 31 December 2013 to the current level of 7,371 GWh; it is likewise pointed out that the average number of free market customers rose by 31,104 over the previous year. Energy distributed to customers in the Enhanced Protection Market (2,923 GWh) fell by 13.37% compared to the previous year. The amount of equalisation recoveries for years previous to 2014 recorded 14,692 thousand euros in higher revenue. 

Revenue from gas sales

This item totalled 59,015 thousand euros, marking a decrease of 4,765 thousand euros compared to 31 December 2013, mainly due to the decrease in the volumes sold by Umbria Energy. Acea Energia sold 103.5 million standard cubic metres of gas to final customers and wholesalers (including retain joint ventures) corresponding to 154,601 redelivery points (compared to 98,676 at 31 December 2013).

Revenue from the sale of certificates and rights

This item amounted to 21,633 thousand euros marking an increase of 5,261 thousand euros over the previous year. The item includes the recognition of revenue from green certificates: (i) by Acea Produzione (16,895 thousand euros) accruing in relation to energy produced by the Salisano plant and the Orte plant after the repowering operations completed in 2012 and (ii) by A.R.I.A. (4,191 thousand euros) deriving from a system of incentives for renewable sources equal to 4,103 thousand euros from the Terni WTE plant and 88 thousand euros from the San Vittore del Lazio WTE plant,

The breakdown of this item by type is as follows:

€ thousand31.12.201431.12.2013 RestatedIncrease / (Decrease)Increase / (Decrease) %
Green certificates 21,585 16,237 5,349 32.9%
CO2 rights 48 136 (88) (64.6%)
Total 21,633 16,373 5,261 32.1%

Revenue from Integrated Water Service

As mentioned in the paragraph to which reference is made for more detailed explanations, Revenue from the Integrated Water Service is almost exclusively generated by the companies managing the service in Lazio and to a lesser extent those in Campania.

These revenues amounted to 580,374 thousand euros, up by 44,385 thousand euros (+8.3%) over the l previous year (535.988 thousand euros).

Details of the breakdown by company are given below:

€ thousand31.12.201431.12.2013 RestatedIncrease / (Decrease)Increase / (Decrease) %
ACEA Ato2 504,006 471,497 32,509 6.9%
ACEA Ato5 64,826 54,129 697 19.8%
Gesesa 7,701 6,569 1,131 17.2%
Crea Gestioni 3,841 3,793 48 1.3%
I.W.S. Revenue  580,374 535,988 44,385 8.3%

The increase is mainly due to the updating of the 2014 tariffs by ACEA Ato2 and ACEA Ato5. The quantification of the Restriction on Guaranteed Revenue (VRG) of ACEA Ato2 took place on the basis of AEEGSI Resolution of 25 September 2014 approving the 2014-2015 tariffs proposed by the ATO2 Central Lazio - Rome Mayors' Conference. This increase is also due to the adjustments in so-called pass-though items, i.e. recognition in the tariff of some types of costs for the years 2012 and 2013. Specifically, for ACEA Ato2 these adjustments contributed 23.5 million euros to the growth of revenue in the period,  and include the covering of costs incurred to deal with environmental emergencies and other cost components (i.e. electricity and local charges) besides inflation provided for under existing regulations.

Revenue from overseas water services

This item totalled 7,707 thousand euros, down 2,702 thousand euros compared to the previous year (10,409 thousand euros). The change was basically due to the decrease in the Aguazul Bogotà activities.

Revenue from biomass transfer and landfill management

This item totalled 39,419 thousand euros, up by 3,037 thousand euros compared to the previous year (36,382 thousand euros).

The breakdown by company is provided below:

€ thousand31.12.201431.12.2013 RestatedIncrease / (Decrease)
A.R.I.A. 22,015 17,535 4,480
SAO 9,328 9,959 (632)
Kyklos 3,130 4,700 (1,569)
Aquaser 3,528 3,631 (103)
Solemme 200 239 (39)
Samace 918 78 840
Innovazione e sostenibilità ambientale 300 240 60
Revenue from biomass transfer and landfill management 39,419 36,382 3,037

The trend in 2014 is determined by the increase both in the quantities conferred, in particular by agriculture and composting and by the average price. 

Revenue from services to customers

This item totalled 93,516 thousand euros (95,011 thousand euros at 31 December 2013) and fell by 1,495 thousand euros.

This type of revenue comprises:

€ thousand31.12.201431.12.2013 RestatedIncrease / (Decrease)Increase / (Decrease) %
Public Lighting - Rome 60,139 53,285 6,854 12.9%
Public Lighting - Naples 7,572 7,776 (203) (2.6%)
Services requested by third parties 11,337 16,893 (5,556) (32.9%)
Intercompany services 6,947 7,810 (863) (11.0%)
PV power 393 1,853 (1,460) (78.8%)
GIP revenue 7,127 7,394 (268) (3.6%)
Revenue from customers 93,516 95,011 (1,495) (1.6%)

The decrease was due to the combined effect of the following: i) an increase in revenue for Public Lighting for Roma Capitale (+6,854 thousand euros) as a result of the recognition of charges for design, works management and archaeological consultancy, amounting to 10% in addition to the fee set for the works undertaken in 2011, 2012 e 2013, in compliance with the provisions of the addendum to the service contract stipulated in 2011 (totalling 3,551 thousand euros) and increased activities for design and construction of new plants conducted during the year (3,307 thousand euros); ii) a decrease in services rendered to Group companies (-863 thousand euros); iii) a decrease in revenue from works undertaken on request by third parties of 5,556 thousand euros, mainly on the basis of specific agreements stipulated with developers of new areas to be urbanized; iv) a decrease in proceeds recorded by ARSE for marketing and installation on behalf of third parties of photovoltaic panels (-1,460 thousand euros).

The table below shows the breakdown of this item by operating segment:

€ thousand31.12.201431.12.2013 RestatedIncrease / (Decrease)Increase / (Decrease) %
Environment 532 1,465 (933) (63.7%)
Energy 876 4,081 (3,205) (78.5%)
Water 10,863 12,227 (1,364) (11.2%)
Networks 12,279 13,795 (1,516) (11.0%)
Parent Company 68,965 63,443 5,522 8.7%
Revenue from services to customers 93,516 95,011 (1,495) (1.6%)

Connection fees

This item totalled 28,476 thousand euros and are substantially in line with the previous year (-55 thousand euros compared to 2013). It comprises the following items:

  • Energy Segment: 17,119 thousand euros (-921 thousand euros),
  • Water Segment: 4,150 thousand euros (-112 thousand euros),
  • Networks Segment: 7,206 thousand euros (+977 thousand euros).