BAKU, Azerbaijan, Apr.1
By Leman Zeynalova - Trend:
In 2020, investments of Fluxys Belgium in property, plant and equipment totalled €42.3 million, compared with €91.3 million in 2019, Trend reports with reference to the company.
In 2020, €31.9 million was spent on transmission projects, €0.7 million on storage infrastructure and €9.7 million on LNG infrastructure projects.
The principle ensuring that tariffs cover all reasonable costs, including interest and fair remuneration, continues to apply. Alongside incentives to control costs, a set of new incentives has been introduced to monitor and manage some aspects of company performance. The company share of realised savings has been adjusted. As a consequence, potential gains of efficiency efforts are limited. By managing its operating costs and continuing its efficiency drive, the Fluxys Belgium group achieved these regulatory objectives and benefitted from incentives.
Despite the widespread impact of the coronavirus outbreak, all of Fluxys Belgium's essential services remained operational and the company focused fully on playing its vital role in society and for its customers, ensuring safety and continuity of gas supply. At the same time, all necessary steps were taken to protect the health of our employees and contain the spread of the virus.
With the support of the shareholders, Fluxys Belgium and parent group Fluxys also freed up approximately €1 million for various organisations and institutions engaged with vulnerable groups, front-line professionals and scientific research into COVID-19 in Belgium.
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Follow the author on Twitter: @Lyaman_Zeyn
