BAKU, Azerbaijan, March 21. Italy’s Snam posted total revenues of €3.568 billion in 2024, reflecting a 9.5% decline (€373 million) compared to 2023, Trend reports.
Despite the overall drop, revenues from the gas infrastructure business surged by €422 million (+14.9%), driven by higher regulated revenues. However, this growth was offset by a sharp decline in energy transition business revenues (€-795 million; -71.9%), largely due to the termination of Superbonus incentives that had previously supported the energy efficiency sector.
Regulated Revenues on the Rise
Snam’s regulated revenues grew by €444 million (+16.1%), fueled by several key factors:
Higher WACC (Weighted Average Cost of Capital) across all
business areas (+€177 million)
Revenue growth linked to RAB (Regulated Asset Base) expansion in
transport and storage (+€147 million, net of lower input-based
incentives)
ROSS (Regulation by Objectives of Expenditure and Service) impact
on transport revenues (+€67 million)
Revenues from the Piombino regasification terminal (+€61
million)
Higher regasified volumes in 2023 (+€29 million compared to 2023
revenues from 2022 regasified volumes)
These gains were partially countered by a reduction in output-based incentives (-€41 million), mainly in storage, due to one-off positive effects in 2023. Additionally, lower transport incentives (-€10 million) in default service further weighed on the revenue balance.
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