Management report

Business Segment 

Renewable energy sources 

The ERG Group operates in the renewable energy segment through the subsidiary ERG Renew, whose performance is based mainly on the wind power generation business.

Wind farms consist of wind-power generators that can transform the kinetic energy of wind into mechanical energy, which is used in turn to generate electricity. Aside from the availability of the plants, the performance expected from each wind farm is obviously influenced by the wind speed profile of the site on which the wind farm is located.

Business performance is also influenced by the sale price of electricity, which can also vary in relation to the geographic areas where the plants are located, by the value of "green certificates", and in general, by the incentive systems for renewable energy sources, which differ from country to country. The results of 2013 include the contribution of the ERG Wind farms as a result of the previously commented acquisition.

 Reference market (1)

  Year 2013 Year 2012
 
Italian renewable energy sources market(2) (GWh)    
Generation from renewable sources(3)
of which:
94.852 80.411

Hydroelectric

52.515 43.260

Geothermal

5.305 5.251

Wind

14.886 13.333

Photovoltaic

22.146 18.633
     
Sales prices (Euro/MWh)    
PUN (Italia)(4) 63.0 75.5
"Green certificates" 89.3 80.3
EE Price - Center-South Area  59.3 73.2
EE Price - Southern Area 57.2 95.3
EE Price -Sicily 92.0 95.3
EE Price - Sardinia  61.5 81.7
Average unit value of ERG Energy sale in Italy  148.1 150.6
Feed IN Tariff (Germany)(5) 94.6 n.a.
Feed IN Tariff (France)(5) 90.4 89.4
Feed IN Tariff (Bulgaria)(5) 94.8 94.4
EE Price Romania 33.50 n.a.
Green Certificate Price Romania(6) 42.10 n.a.

(1)    estimated output for December
(2)    source: Terna S.p.A. monthly report on the electrical system. Estimated data, subject to correction
(3)    sources considered: hydroelectric, geothermal, wind power and photovoltaic
(4)    Single National Price – Source: GME S.p.A..
(5)   the values of the Feed in Tariff abroad refer to the prices obtained by ERG Renew plants
(6)    price referred to the unit value of the green certificate (the number of "green certificates" recognised and the timeline are discussed in the section describing
the scenario in Romania)

 

ERG S.p.A. - Genova

Paolo Merli

Head of Corporate Finance & Investor Relations

0039 010 2401376

ERG S.p.A. - Genova

Matteo Bagnara

Investor Relations

0039 010 2401423

ir@erg.it


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