Italy Defends Power Grid Operator's Bonus as Consumers Pay More [Financial Post (Toronto, Ontario, Canada)]
TERNA RETE ELETTRICA ADR (TEZNY)
NASDAQ:AMEX Investor Relations:
terna.it/en-gb/investorrelations.aspx
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Source: Financial Post
Author of the article: (Bloomberg) — The Italian government said bonuses paid to the nation's electricity grid operator were justified despite rising costs to consumers, defending a practice raised in a Bloomberg News investigation. The expense to consumers would have been even higher had the operator, Terna SpA, not been rewarded for its efforts in cutting costs on the so-called “dispatch” market, Vannia Gava, deputy minister for the environment and energy security, told lawmakers in Rome on Thursday. Article content Article content “Under equal conditions, without Terna's optimization interventions, in 2022 the cost of the dispatching service would have been equal to almost double that recorded,” Gava told the lower house's committee on businesses and tourism, referring to the secondary market used to fill supply gaps and avoid blackouts. High gas prices made it harder to further cut those expenses, she said in response to a formal request for comment by an opposition l
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