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A2009 Services

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Electricity Distribution

Year 2009 is the second year within the third period of tariff regulation for transmission, distribution, and measurement of electric power. The tariff framework is based on the definition of tariffs set out by the AEEG on a national basis, differentiated by user type, and on the existence of suitable general equalization mechanisms, established to adjust the invoicing revenue depending on the operating and capitalised costs of each operator.

All reference tariff provisions are identified by the AEEG resolution no. 348/07 of December 2007, while the specific tariff levels for 2009 were approved by resolution ARG/elt 188/08 of 19 December 2008.

Against this backdrop, revenues from tariffs for transmission, distribution, and measurement of electricity for 2009 were equal to Euro 48.3 million, with 2,117 million kWh distributed and an average revenue per unit equal to Euro 2.3 cents / kWh.

To make a consistent comparison with the revenue figures in 2008, amounting to Euro 45.3 million, we deem suitable to restate them in order to calculate the tariff equalization allocations for year 2008 using criteria similar to 2009.

Revenues for 2008 thus restated amounted to Euro 46.8 million. Compared to this figure, revenues in 2009 were up 3.2%, corresponding to Euro 1.5 million.

Electricity distribution – revenues 2008
pro forma
2009% Change
vs 2008 pro forma
Hera consolidated   
- Revenues (millions of Euro)46.8048.303,2%
- Volumes (GWh)2263.002117.00-6,4%
- Average revenue per unit (Euro cent per kWh)2.102.3010,3%

The Euro 1.5 million increase is largely explained (Euro 1.4 million) by higher revenues generated in year 2009 from past accrued retrospective invoicing periods. This item notwithstanding, a minimal variance remains, amounting to Euro +0.1 million, with a distributed volume reduction of 6.4% (2,263 billion to 2,117 billion kWh).

The stability of accrued revenue in 2009, albeit accompanied by a significant decline in volumes, was due, on one side, to the upward revision of tariff levels of 2009 introduced by Resolution No. ARG / elt 188/08, and on the other to existence of fixed rate tariff components, which mitigate the exposure of total revenue compared to the evolution of the volumes delivered.

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