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Glossary

 

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  • EMAS (Environment Glossary)

    Regulation no. 761/2001 EC envisages adoption on the part of business concerns of environmental management systems based on policies, programmes, procedures and objectives directed toward improving the environment, and publication of an environmental statement, to be validated by the ECOAUDIT committee.

     
  • ESCO (Energy service company (Energy glossary)

    A company specialising in carrying out improvements in energy efficiency for public and private companies. Generally ESCOs take care of the entire process of analysing, designing and implementing an energy efficiency programme, often including the financing of individual projects.

     
  • Ecological station (Environment Glossary)

    Large area equipped and managed to collect countless types of waste going to recovery, recycling or controlled disposal.

     
  • Electricity market (Energy glossary)

    A virtual meeting place between electricity supply and demand. Exchanges can be made via bilateral contracts or in an organised fashion on the electricity exchange.

     
  • Electricity market operator (EMO) (Energy glossary)

    Joint-stock company, 100% controlled by the GRTN and responsible for operational management of the electricity market, ensuring conditions of transparency and efficiency. In addition to IPEX or the electricity exchange, the EMO also manages non-electricity markets (i.e. markets for Green Certificates and White Certificates).

     
  • Electricity stock exchange (IPEX) (Energy glossary)

    The “electricity stock exchange” (actually IPEX, the Italian Power Exchange) is a system for bulk exchange of established quantities of electricity, based on an auction mechanism and on the definition of input and withdrawal programmes for the National transmission grid. The programmes and electricity quantities exchanged are regulated on the basis of a free system of demand and supply, subject to verification of their compliance with grid restrictions by Terna. IPEX is made up of the Energy market and the Despatching Service Market.

     
  • Electrolysis (Environment Glossary)

    Chemical-physical process that acts between two substances on the molecular level.

     
  • Eligible customer (Energy glossary)
    • Electricity

    A physical or legal person, able to stipulate supply contracts with any producer, distributor or wholesaler. Up to 2004 eligible customers were identified according to their energy needs: i.e. consumption thresholds were set and these were reduced over time, and under these thresholds it was not possible to access the free market. From 1 July 2004 onwards, however, all non-domestic consumers have been considered eligible customers. In practice, this means anyone who has a VAT number. From 1 July 2007, all end customers will be considered eligible and so the free market will finally be completely open to demand.

    • Natural gas

    Before the market had become completely liberalised on 1 January 2003, pursuant to Italian legislative decree 164 of 2000 (Letta Decree), it meant the physical or legal person authorised to stipulate supply, purchase and sale contracts with any producer, importer, distributor or wholesaler, whether in Italy or abroad. The eligibility threshold the regulations set forth referred to an annual consumption greater than 200,000 cubic metres. Since 1 January 2003 all end customers are "eligible" and can freely choose the company that sells them gas.

     
  • Emission (Environment Glossary)

    Discharge of any solid, liquid or gaseous substance introduced into the ecosystem that could directly or indirectly make an impact on the environment.

     
  • Emission rights (see Grey certificates) (Energy glossary)
     
  • Emission shares (see Green certificates) (Energy glossary)
     
  • Emission trading system (ETS) (Energy glossary)

    A flexible mechanism created by the Kyoto accords which is intended to allow the exchange of emission rights between countries or companies to achieve their objectives in reducing emissions of greenhouse gases.

     
  • Emissions stock exchange ('Borsa dei fumi') (Energy glossary)

    The Emissions Trading Scheme or ‘emissions stock exchange’ (from ‘Borsa dei fumi’ as it is often referred to in Italy) is a platform for buying and selling emission rights for greenhouse gases. The objective of the ETS is to allow companies to avoid exceeding the maximum emission levels assigned to them.

     
  • End customer (Energy glossary)

    The physical or legal person who purchases electricity or gas exclusively for their own use.

     
  • Energy Efficiency Bonds (EEB) (see White Certificates) (Energy glossary)
     
  • Energy efficiency (Energy glossary)

    Energy efficiency involves promoting all behaviours, working methods and production techniques that consume less energy for the same rate of production.

     
  • Energy market (Energy glossary)

    This refers to both the Day Ahead Market (DAM) and the Settlement Market (SM).

     
  • Environmental Accounting (Environment Glossary)

    A method of identifying, quantifying, organizing, managing and communicating the environmental impacts of human activities. Environmental accounting systems may concern a geographical area, a natural resource or an activity, so there are several environmental accounting methods, which are to be chosen according to the objectives of the people who are to use them, the system to be described and the reference geographical scale.

     
  • Equalisation expenses (Water Glossary)

    These involve charges that all users of the service or all users who are part of a certain category, are obliged to pay.They are designed to offset costs incurred in the general interest of the system, for example for solidarity operations in the case of natural disasters or for welfare benefits.

     
  • Equity management (Investor Relations Glossary)

    This is the management that relates to any purchase, administration, disposal of resources not related to the normal operations of the business.

     
  • Estimated consumption (Water Glossary)

    This is the water consumption, in cubic metres, attributed if there are no meter readings or self-readings, based on the best estimates of historical consumption of the consumer available to the provider.

     
  • Eternit (Environment Glossary)

    Hard though light construction material that is very dangerous, obtained by mixing cement with asbestos fibres.

     
  • Euribor (Investor Relations Glossary)

    Reference inter-bank market interest rate of the companies in the Monetary Union.

     
  • Exchange rate (Investor Relations Glossary)

    Price of a currency expressed in terms of another currency. It is differentiated between spot exchange rate, that is utilised for the sales/purchase in foreign currencies with immediate payment, and forward exchange rate, based on which the foreign currency can be sold or purchased immediately to be delivered at a future pre-determined date.

     
  • Extraordinary management (Investor Relations Glossary)

    This relates to the activities performed by the company relating to events of an extraordinary nature that do not relate to the ordinary operations (losses or profits related to previous year or change of valuation criteria or disposal of business unit).

     
 
2017 Sustainability report embraces shared value
 
Valore condiviso al centro del bilancio di sostenibilità 2017
 
 
Sustainability in Hera Group
 
Sustainability in Hera Group
 
 
2017 Economic results
 
Risultati economici 2017 - Il commento del Presidente del Gruppo Hera