Mediobanca: Italy New Power Transmission Tariffs Are Positive
January 02 2012 - 10:49AM
Dow Jones News
Italian investment bank Mediobanca SpA (MB.MI) said Monday that
the weekend's final electricity transport and distribution tariffs
published by the regulator are positive overall.
The new tariffs cover the 2012-2015 period.
The regulatory outcome offers "visible" signs of improvement
from the earlier consultation document, said a bank analyst.
Mediobanca notes as positives the higher transport and
distribution allowed returns, which now climb to 7.4% and 7.6%,
respectively. The bank also is positive on a correction mechanism
that allows the regulator to consider in two years a revision of
the returns if the macroeconomic scenario doesn't improve.
On the negative side, Mediobanca wrote in a note that the new
"Robin Hood" tax hitting utilities is only partially
compensated.
Mediobanca said it expects positive share price reaction to the
new tariffs, especially by Terna SpA (TRN.MI) and Enel SpA
(ENEL.MI).
At 1452 GMT, Terna shares had gained 5.4% at EUR2.74, while Enel
had added 2.3% at EUR3.22. Italy's benchmark FTSE Mib Index had
climbed 2.2%.
-By Liam Moloney, Dow Jones Newswires; +39 06 6976 6924;
liam.moloney@dowjones.com
Terna Trasmissione Elett... (BIT:TRN)
Historical Stock Chart
From Apr 2024 to May 2024
Terna Trasmissione Elett... (BIT:TRN)
Historical Stock Chart
From May 2023 to May 2024