MILAN, July 10 (Reuters) - Italy’s energy regulator has updated the tariffs for the use of LNG terminals in the country from October 2008 to September 2012.
The Authority for Electricity and Gas has set the tariffs to allow for a rate of return (WACC) on Regulatory Asset Base equal to 7.6 percent in real terms before tax, according to Snam Rete Gas (SRG.MI), Italy’s gas network operator.
“Furthermore, it is established an additional remuneration, up to 3 percent above WACC, for new capex for a maximum of 16 years period,” it said in a statement on Thursday.
The operational costs will be adjusted every year taking into account inflation and efficiency gains set by the regulator equal to 0.5 percent in real terms, it said.
“The regulation for the next period guarantees a substantial stability leveraging on principles of continuity and coherence with the objective of providing incentives for development capex,” Snam Rete Gas Chief Executive Carlo Malacarne said in the statement.
Snam Rete Gas is 50 percent owned by oil and gas company ENI (ENI.MI). (Reporting by Gilles Castonguay)