We are the first electricity transmission grid operator in Europe and seventh in world for kilometers of electricity lines managed. We are the company that owns the HV National Transmission Grid in Italy and are responsible for energy transmission and dispatching throughout all the national territory.
Terna is a leading energy transmission grid operator, headed by Flavio Cattaneo, Chief Executive Officer, and chaired by Luigi Roth.
The Terna Group is the first independent operator in Europe and the seventh in the world for kilometers of lines managed and is the owner of the National High Voltage Electricity Transmission Grid, with over 63,500 km of HV lines throughout the Italian territory. Terna is responsible for energy transmission and dispatching throughout the entire territory and therefore for the safe management of energy flows in Italy, guaranteeing the balance between electricity supply and demand, 365 days a year and 24 hours a day.
Terna is an outstanding Italian company with over 3500 employees that are daily involved in guaranteeing the electricity grid’s safety. The Company is responsible for grid planning, development and maintenance by providing know-how, technology and innovation based on the best international best practices.
Terna represents an excellent example of independent grid transmission operator, in line with the “unbundled” model envisaged by the 3rd EU Energy Package.
Shareholding structure
Among the principal shareholders of the company: Cassa Depositi e Prestiti with 29,85%, Enel with 5.1%, Romano Minozzi with 5.1%, Blackrock Inc. with 2.1% (**). The remaining nearly 58% is held by other institutional and retail investors. 69% of its share capital is held by Italian shareholders, while the remaining 31% is held by foreign institutional investors. (**data as of December 21, 2011).
Energy transmission
Terna is the company responsible for HV and EHV electricity transmission. Transmitting energy means transferring the electricity produced from the production plants to the consumption areas. To this purpose, lines and transforming stations are needed: the elements which form the Transmission Grid, the “backbone” of the Italian electricity system.
The system’s number
> 63,500 km of grid
326 billion kWh the 2010 demand in Italy (data as of 31.12.2010)
1,000 MW the transfer capacity of the most powerful lines
22 interconnecting lines with foreign countries
445 transforming and switching stations
1,640 meters the record-breaking depth of the SA.PE.I. cable
Environment and Sustainability
Commitment towards the environment lies at the heart of the Company’s strategic decisions.
A fundamental factor is Terna’s approach for coordinating activities with the regional (18 agreements signed) and local authorities, in part achieved by means of the Strategic Environmental Assessment system (SEA) which identifies the best solutions for matching the electricity grid development needs with the necessity of protecting the environment and the local territorial culture
In compliance with the best practices followed by leading listed companies, Terna publishes a “Sustainability Report” on the company’s non-financial performance, with special attention to the social, management and environmental impacts of its activities.
Strategy: Terna’s 2011-2015 Plan
Increased investments: from 4.3 to 5 billion euros (+15%) for traditional regulated activities; the investment commitment for nontraditional activities is three times the amount: up to 1 billion euros has been allocated.
Sound financial structure: net debt still lower than 60% of the RAB during the period plan.
Dividend policy confirmed: annual 4% growth, with 2008 considered as the reference year.
Structure
2010 results
2010 results, the highest from the IPO of June 2004, registered a double-digit increase of all the indicators, despite an unfavorable economic situation.
Consolidated revenues exceeded 1,580 million euros, increasing by 14% compared to 2009. Increased revenues reflected the tariff trends, the results of the subsidiary TELAT over the 12 months and the enhancement of incentives linked to the reduction of the supply volumes on the Dispatching Services Market (AEEG resolution 213/09).
The Ebitda (Gross Operating Margin) stood at over 1,170 million euros, increasing by 17% compared to 2009. The Ebitda margin stood at 74%, increasing by 200 bps compared to 2009.
Investments for continuing activities reached 1,160 million euros, increasing by 30% compared to the previous year, approximately 850 million of which regarding development projects, confirming the timely implementation of the Development Plan of the National Transmission Grid. Furthermore, investments in the photovoltaic project reached nearly 300 million euros.