WORK WITH US |  General Archive |  Suppliers |  Contacts 

Terna has expressed in its Ethical code its commitments to each stakeholder category which correspond to specific engagement tools such as, for example, monitoring and verification of their expectations and opinions.

Regulators of services operated under concession

These are the national and EU institutions and public bodies that by law are granted regulatory and supervisory powers over Terna, in its capacity as the operator of the electricity transmission grid and of dispatching activities.
While carrying out its activities and in strict compliance with its respective roles, Terna maintains ongoing relations with these bodies, both with regard to compliance with its obligations under the current legislative and regulatory framework, and in order to make a positive contribution towards development of the framework. It also provides advice and technical support to both national and EU bodies.

Go up

Public decision makers and regulators

These public institutions are responsible for regulation, supervision and authorisation of a general nature, and in particular regarding the construction of infrastructure. They exert an influence over Terna and engage with the Company in the performance of their institutional roles.
Since 2016, Terna has been on the Transparency Register, established by the MED to guarantee transparency and the traceability of meetings with the Ministry's top officials.
In 2017, in addition to ordinary communication initiatives and institutional relations, Terna attended the following hearings:

  • on 27 February 2017, at the Senate’s Standing Committee on Industry, in connection with the matter allocated no. 911, Terna gave evidence relating to the performance of leading companies that are directly or indirectly owned by the state, with particular reference to the Committee's areas of interest, regarding aspects relating to both industrial sector and competition;
  • on 7 December 2017, Terna gave evidence to Emilia Romagna’s Legislative Assembly, with regard to the repercussions for public utilities of the weather events occurring in November 2017.

Moreover, Terna also contributed to the process of adopting the National Energy Strategy, which describes energy, environmental and sustainable development policy objectives up to 2030.

Go up


These are the parties that invest, in various ways and to varying extents, in the capital of the company. Through their investment/disposal decisions, they have financial influence or also – by exercising their right to vote – decision-making influence on the company and are impacted by the financial performance of the company itself. This category of stakeholder also includes parties that, due to their professional role, can influence stakeholders, first and foremost financial analysts and sustainability rating agencies.

The Annual General Meeting of 27 April 2017 was attended by 1,284 shareholders (of which 9 in person and 1,275 by proxy), holding a total of 1,279,363,203 shares, equal to 63.650164% of the share capital, all of which bearing voting rights.
Twelve requests for information were received by e-mail from non-institutional shareholders (12 in 2016 and 7 in 2015), regarding information on the dividend policy, the share price performance, information on the dates and availability of Terna's corporate documents and/or documents relating to General Meetings and/or other information material on the Company.
The Sustainability department maintains ongoing relations with sustainability rating agencies and, in collaboration with Investor Relations, with analysts and fund managers, to whom it provides the necessary information for assessment of the Company's ESG performance. Investor Relations conducts an annual survey of financial analysts.

Go up

Credit providers

These are the parties (generally banks and institutional investors) that help to procure the debt capital required by the company through their business activities or their relevant institutional role. Terna maintains a continuous relationship with these parties through many opportunities for discussion (around 100 throughout the year) concerning issues of potential business interest, including possible financing strategies.

Around 100 meetings per year.
On the occasion of the analyst presentations, Terna meets S&P's, Fitch and Moody's, the rating agencies that assess its creditworthiness.

Go up

Customers of the Non-regulated Activities

In the interests of stakeholder engagement, since 2016, Terna has organised an annual event dedicated to Energy Solutions, the Group's Non-regulated offering. The 2017 event was attended by around 30 loyal and potential customers who were able to learn more about Terna's role as an Energy Solutions Provider in the new energy scenario. During the event, all the guests are given a questionnaire aimed at assessing their knowledge of the Company and its offerings, the extent to which the services offered correspond to their real needs, their level of satisfaction with and overall opinion of Terna's efforts regarding such key issues as integrity in running the business, the level of quality aimed at, attention paid to the environment, strategic positioning, propensity for innovation, occupational safety and dialogue with local communities. The survey showed that 50% of the respondents who completed the questionnaire has a highly positive opinion of Terna, whilst the remaining 50% have a positive opinion; all respondents thought that Terna plays a major role in technological innovation, whilst 71% thought it was a global leader regarding issues relating to electricity transmission and conducted its business with integrity, transparency and fairness.

Go up

Electricity system operators

Together with Terna, these stakeholders make up the electricity supply chain, operating as producers, distributors and wholesalers. They engage in multiple relations with Terna, which are highly regulated and characterised by reciprocal impact and influence. These stakeholders also have the potential to influence regulatory authorities and public decision makers.
In addition to its corporate channels, Terna has developed the My Terna portals (a platform that manages the dispatching users with whom Terna has entered into a contract, supported by a dedicated call centre) and GAUDÌ, the management system for the Consolidated Power Generation Plant Register at national level.

Go up

Media and opinion makers

These stakeholders have a role as mediators between Terna and other stakeholders. This category includes national and international media outlets, national and international opinion leaders, web users, universities and other scientific and research organisations, study groups and national and international influencers.
The media directly influence public opinion in general, regulatory authorities and public decision makers. They can have a direct impact on Terna’s reputation or an indirect effect on its operating and business environment and on political decisions regarding energy.
All communication activities have been developed in such a way as to make coordination between the various departments and the integration of the various tools and activities even more effective, in order to obtain ever more widespread and consistent coverage across all media. The Group's communication generated coverage via the release of 1,626 significant items, partly thanks to the publication of 91 press releases, as well as 164 local memos and position statements (up 108% compared with 2016). 415 significant articles were published in the national press and 300 in the local press, while 653 articles were posted on leading websites (up 27% compared with 2016) and 258 items were broadcast on leading TV and radio channels (up 38% compared with 2016). 33 of Terna's senior executives and 22 managers were interviewed. Overall, including traditional (newspapers, periodicals, radio and TV) and online media, Terna released a total of 19,481 items (up 3% compared with 2016). In terms of media relations, over 1,000 direct contacts were made with the editorial staff of the various traditional and web-based media outlets.

Webranking Europe 500: Terna in Top 10 and best improver in rankings
With a score of 85 out of 100, Terna is in the Top 10 (sixth) of Webranking Europe 500 by Comprend 2017, the leading survey for assessing the transparency of the digital channels of leading listed European companies, and in the Top 5 in Italy. Thanks to an increase of 18.8 points compared with 2016, Terna is the best improver out of 500 companies assessed by the Swedish agency, Comprend, which specialises in digital corporate communication. Terna was also third in the special sustainability rankings.

Go up


The usual point of contact for Terna and its suppliers is the “Procurement Portal”, where it is possible to learn about tenders, participate in online tenders, and go through the qualification process for inclusion on the Supplier Register.
In 2014, Terna adopted the electronic platform for managing contract tenders, thus creating a paperless procedure.
Terna also has direct contact with suppliers to manage contractual relations and improve the Company’s knowledge of specific issues with groups of suppliers.
In order to expand its supplier portfolio, Terna engages in “procurement marketing” through market scouting, benchmarking and monitoring the performance of suppliers. This involves constant meetings with both Italian and overseas supplier firms.

Go up

People in the organization

These are the internal stakeholders, the company fabric, whose work makes the business possible.
Over the course of the year, the “Engagement Survey 2017” was carried out, a study on the company climate which involved the entire workforce and had a response rate of 80%. The survey measured the engagement level of Terna personnel based on three factors: rationale (comprehension of corporate objectives and strategies), emotion (feeling of belonging and pride) and motivation (commitment and willingness to contribute).
On the whole, Terna’s engagement score (81%) is essentially in line with the average of other Italian companies that use the same survey mechanism.
Over the years, Terna has also monitored the “Work Satisfaction Index”, to gauge employee satisfaction. The index is calculated based on the absenteeism rate (weighed at 50%), the “under 30” turnover rate (weighed at 25%) and the voluntary resignation rate (weighed at 25%).
The final index produces a score between 0-100. Below are the recorded data from the last four years: 2015: 69; 2016: 62; 2017: 73.

Go up

The wider community

Terna's role in the electricity system gives it a responsibility to society as a whole both for everyday and medium-to-long-term operation.
Terna conducts its relations with the stakeholder “society” using a variety of information tools: this site, social media (Facebook, Twitter, LinkedIn, Instagram, Slideshare, Flickr).

Go up

Local community

From the initial planning phase of grid development initiatives, Terna reaches out to local communities in the areas where they will be implemented, involving local authorities (regional and local authorities, park authorities, etc.). For several years, the Company has also reached out to citizens via public meetings called "Terna incontra".
Terna voluntarily consults on the need for grid development with local authorities and listens to stakeholders' opinions in order to promote the best location for new infrastructure, identifying optimal corridors based on the classification of land according to so-called "ERPA criteria" (Exclusion, Repulsion, Problems and Attraction), and with the support of GIS (Geographic Information System) technology, which includes all information relating to different types of land use and the related protection constraints (regional, naturalistic, cultural, landscape, etc.). During 2017, Terna held a total of 303 meetings with local authorities, involving around 260 bodies. Terna also held 13 “Terna incontra” events (in Auronzo di Cadore, Cortina D’Ampezzo, Vaiano, Formazza, Domodossola, Comignago, Avigliana, Val di Susa and Chiomonte, Volpago, and Scorzè), attended by around 343 local residents.

Go up

Business partner

For Terna, the relationship with these stakeholders represents a chance to promote its regulated business or develop new non-regulated business activities. They have operational or strategic influence, depending on how relevant the partnership is for the business. They, in turn, are influenced by Terna in economic and/or operational terms.
The tools available for solidifying these relationships include partnership agreements, protocols, meetings for specific projects and structured collaborations.

Go up