Focus on vitality on the inventory change, the hydroelectric concessions sport heats up | EUROtoday

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(Il Sole 24 Ore Radiocor) – Sales on vitality shares on Piazza Affari with Terna main the declines and A2a and Enel additionally weak. In a constructive session for the inventory markets, a mixture of elements weighing on the vitality sector, together with the rise in authorities bond yields which have gotten extra aggressive in comparison with investments within the shares of vitality corporations.

But today the difficulty of hydroelectric concessions should even be taken into consideration. Various actors concerned are able to defend the concessions in opposition to potential tender procedures which ought to result in the renewal of the contracts within the coming years. The positions of some vital topics – equivalent to the federal government and Confidustria – spotlight how the concession renewal course of lacks reciprocity in direction of different European international locations, during which there are not any tenders for very lengthy or perpetual concessions. Furthermore, hydroelectric crops symbolize a strategic asset for the nation each when it comes to the supply of the hydro useful resource for numerous industrial sectors and for the soundness of the electrical energy market, representing a renewable and low-cost vitality supply. Finally, the sector requires important infrastructure investments to strengthen and safe present capability.

In this context, in keeping with press rumours, the Italian Minister of the Environment and Energy Security, Gilberto Pichetto Fratin, could be prepared for a brand new negotiating desk with the EU which, with out affecting the sources out there for the Pnrr, would goal for a typical answer: the present proposal could be to increase the length of present concessions in change for investments and awaiting a typical framework at European stage.

Equita analysts underline that «the potential extension of the concessions is a constructive factor specifically for A2a (round 4-5TWh of manufacturing), Iren (round 1.3 TWh of manufacturing), which have round 50% of the concessions expired and the remaining expiring in 2029, and Enel (roughly 17-18 TWh of manufacturing) with belongings expiring in 2029″. Finally, as regards Italgas alone, it is worth remembering the government’s green light for the acquisition of 2i Rete Gas, renouncing the exercise of the golden power. Furthermore, the Antitrust investigation into the operation has also officially started, with a result expected within 3 months (therefore in line with Italgas’ indications to close the deal within the first quarter of 2025). Il Sole 24Ore indicates that the AGCM’s focus would be on 36 Atem, i.e. areas in which the significant presence of the two companies could lead to a restriction of competition in the gas tender phase. According to the newspaper’s indications, the valuation of these assets would be “undoubtedly very distant” from the value of one billion hypothesized by some past rumors which gave this estimate as potentially transferable by Italgas to overcome the Antitrust findings.