BAKU, Azerbaijan, May 8. Snam has reported total revenues of 970 million euros for the first quarter of 2025, marking an increase of 74 million euros - or 8.3% - compared to the same period in 2024, Trend reports.
According to the producer, the rise was primarily driven by stronger performance in the company’s regulated gas infrastructure business, which grew by 72 million euros, or 9.0%.
The growth in regulated revenues reflects several key factors, including the impact of Italy’s energy authority ARERA’s Resolution 130/2025, Snam explained. The resolution updates 2024 revenues by applying a revised deflator to the Regulated Asset Base (RAB) and introduces the use of the Italian Harmonised Index of Consumer Prices (IPCA) for capital revaluation from 2025 onward. This contributed an additional 62 million euros.
Further revenue gains were supported by a 31 million euro increase linked to the company’s ongoing investment plan, despite a reduction in input-based incentives. The full consolidation of the Stogit Adriatica storage operator (formerly Edison Stoccaggio) added another 7 million euros following its integration into the Snam Group.
These positive factors were partially offset by a 26 million euro decline due to a lower Weighted Average Cost of Capital (WACC) and a 16 million euro decrease in output-based incentives, mainly related to storage activities.
Revenues from Snam’s energy transition businesses remained stable compared to the first quarter of 2024.
