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Glossary

 

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  • CDR (Environment Glossary)

    Combustibile Derivato da Rifiuti.
    Waste-derived fuel (WDF): fuel that can be classified on the basis of the technical standards Uni 9903-1 and subsequent amendments and additions is obtained from non-hazardous urban and special waste using treatments aimed at guaranteeing a calorific power suited to its use, and at reducing and controlling: 1) the environmental and health risk; 2) the presence of metallic material, glass, inert material, rot and damp; 3) the presence of hazardous substances, in particular those used for combustion purposes;

     
  • CIP 6 (Environment Glossary)

    Ruling no. 6/92 of the CIP (Interministerial Price Committee) concerning incentives for the production of electricity from renewable sources. It determined the tariffs and contributions for the production and sale to ENEL (national electric power utility) of energy from conventional, renewable and assimilated sources.

     
  • CIP 6/92 (Energy glossary)

    Acronym of Provision no. 6 in 1992 issued by the Italian Comitato Interministeriale dei Prezzi (Interministerial Price Commission) which established the prices at which private individuals could sell electricity produced from renewable sources to Enel (the national provider in Italy). The CIP 6 mechanism is to be replaced by the green certificate system introduced by the Bersani decree.

     
  • Calorific value (Environment Glossary)

    Measurement of heat (J/kg) produced by the complete combustion of the unitary mass of a substance.

     
  • Cartridges (Environment Glossary)

    Ink containers for laser or ink-jet printers, photocopiers, computers, etc.

     
  • Cash (Investor Relations Glossary)

    Term utilised to indicate cash on hand.

     
  • Cash Flow (Investor Relations Glossary)

    Balance between receipts and payments of a business in a determined period of time.
    It therefore represents the amount of the funds available which the business can use over a determined period of time.
    It is divided into:

    1. net cash flow equal to the sum of the non distributed profits or losses and amortisation and depreciation
    2. gross cash flow equal to the financial resources available for the payment of taxes and dividends and for investments
    3. The discounted cash flow is defined as the current value of the sum of future amounts to be received.
     
  • Cash flow statement (Investor Relations Glossary)

    Document that reports the changes in the financial structure in a determined period of time, normally one year.
    The cash flow statement presents the resources that finance the operations of the business, from both internal sources, thus from the operations themselves, and from external sources, that is from shareholders, through share capital increases, and other lenders.
    The analysis of this statement offers indications on the uses of these resources, thus illustrating the current investment/divestment policy of the company, and also expresses a correlation between thsource and use of funds, useful in order to identify strengths and weaknesses that the company had to confront in the carrying out of its mission in the period under consideration.

     
  • Centrale termoelettrica (Environment Glossary)

    Plant in which the heat generated by the combustion of a mass of fuel (coal, diesel or methane) is transformed, by means of a cycle of thermal treatment, into mechanical energy, which is in turn transformed into electricity through an alternator. The fuel burnt inside the boiler produces the thermal energy that transforms the process water into steam. The latter, which is strongly superheated, drives the blades of the turbine which transforms the potential energy of the steam into mechanical energy; this is transferred to the alternator, which transforms it into electricity.  

     
  • Clean Development Mechanism (CDM) (Energy glossary)

    A flexible mechanism of the Kyoto Protocol which allows the industrialised countries listed in Annex I of the Protocol to set up special projects in developing countries to contain emissions of greenhouse gases and so assign emission shares to the donor countries.

     
  • Cogeneration (Environment Glossary)

    Plant in which energy is generated by several sources such as, for example electricity (current) and thermal (heat).

     
  • Cogeneration (Energy glossary)

    Joint production (i.e. in the same plant) of electricity and heat, ensuring significant energy savings over separate production.

     
  • Combined cycle (Energy glossary)

    Technology for producing electricity from gaseous fuels, using technology that utilises a gas turbine combined with that which utilises a steam turbine. The combined cycle power plants provided particularly efficient use of fuel, and at the same time offer limited environmental impact in terms of polluting emissions.

     
  • Company Boards (Investor Relations Glossary)

    The term “company boards” refers to the bodies within a company responsible for direction, management, and control.

     
  • Compost (Environment Glossary)

    Product obtained from the aerobic biological fermentation of organic matter of various kinds and used in agriculture as a soil amender, fertilizer or culture substrate. 

     
  • Composter (Environment Glossary)

    Container in which the packaging process takes place (also called compote jar). It keeps the temperature stead and as it fosters air circulation, it prevents foul odours.

     
  • Composting (Environment Glossary)

    Thermophilic and exothermal dioxidation process to which solid organic matter is subjected under controlled conditions. It takes place in two phases (dioxidation and curing) and produces water, carbon dioxide, heat and compost. 

     
  • Condensing boiler (Energy glossary)

    The condensing boiler uses a system that not only exploits the heat generated by combustion, but also allows the amount of heat contained in the exhaust fumes to be recovered by cooling them. It is used in the Combined cyclepower plants.

     
  • Congestion resolution market (Energy glossary)

    The market that operates for the Despatching Service Market for procuring the necessary resources for resolving congestions.

     
  • Consob (Investor Relations Glossary)

    The CONSOB regulates, authorizes, monitors, and controls Italian financial markets with the aim of protecting investors and ensuring the efficiency, transparency and development of the securities market.

     
  • Consolidated Financial Statements (Investor Relations Glossary)

    Document that reports the financial-equity situation, the result and the changes in the shareholders equity of a group of companies intended as a single economic entity.
    Derives from the aggregation of the financial statements of the companies belonging to a group net of the relative values of inter-company transactions within the group, or rather intra-group operations.

     
  • Containers bearing skull and crossbones and flame insignias (Environment Glossary)

    They are usually primary packaging (containing the product).

     
  • Convertible Shares (Investor Relations Glossary)

    Shares that provide the possibility to the holder to convert the shares into another class of share or another company, in accordance with a determined conversion ratio and in accordance with a determined time period and procedures.

     
  • Corporate Governance Models (Investor Relations Glossary)

    Corporate governance is the set of company tools, rules, relations, processes and systems designed for the fair and efficient management of the enterprise, meant as a compensation system among the potentially divergent interests of the minority shareholders, the controlling shareholders, and the directors of a company.

     
  • Cubic metre (m³) (Water Glossary)

    Cubic metres (m³) is the unit of measurement generally used to indicate water consumption.1 m³ equals 1000 litres.

     
  • Cultivation (Energy glossary)

    According to Italian legislative decree no. 164/00, art. 2, section 1, it is the activity of "extracting natural gas from the reservoirs".

     
  • Current Assets (Investor Relations Glossary)

    Liquid asset or available in the short-term, by convention fixed as one year, that is created, paid and renewed in a continual manner for the ordinary operations of the business.
    Current assets include:

    1. inventory
    2. trade receivables (payable within one year)
    3. receivables from shareholders for payments still due and payable within one year
    4. short-term prepayments and accrued income
    5. liquid funds (bank deposits, cheques, cash and other)
    6. other liquid financial assets due within one year.
     
  • Current Ratio (Investor Relations Glossary)

    This is a liquidity ratio that, in fact, is also defined as liquidity ratio.
    It is utilised to evaluate when a company is capable of financing its own short-term needs by means of the receipts from the ordinary activities.
    It is calculated dividing the current assets with the current liabilities.
    It should not be confused with the quick ratio.

     
 
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