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Glossary

 

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  • LPG (Liquefied Petroleum Gas) (Energy glossary)

    LPG is the abbreviation for Liquefied Petroleum Gas, a lightweight hydrocarbon mainly made up of methane that is converted into the liquid state by atmospheric pressure and temperature at -161°C. LPG must therefore undergo a regasification process at the time it is used.

     
  • Landfill biogas (Environment Glossary)

    A by-product of the digestion of decomposing matter by anaerobic bacterial in the waste at a landfill. This gas is made up mainly of methane, carbon dioxide and traces of vapours and other gases.

     
  • Landfill for hazardous waste (Environment Glossary)

    Plant for disposing of waste in the land, designed to collect hazardous waste coming especially from factories, trade and agriculture.

     
  • Landfill for non-hazardous waste (Environment Glossary)

    Plant for disposing of waste in the land, designed to collect and bury municipal and assimilated waste.

     
  • Latten (Environment Glossary)

    Sheet of iron covered with tin by a chemical-physical electrolysis process.

     
  • Leachate (Environment Glossary)

    Liquid that forms following contact of rainwater with waste. If it is not collected, this liquid pollutes the water beds.

     
  • Legal reserve (Investor Relations Glossary)

    Obligatory reserve, also called ordinary reserve. It is obtained deducting from the annual net profits a sum corresponding to at least five percent of the profits until the reserve reaches one fifth of the share capital. If for any reason the reserve decreases, it must be reintegrated. It is one of the accounts that constitute the shareholders equity of a company.

     
  • Letta legislative decree (Energy glossary)
    • Electricity

    Italian law no. 57 of 5 March 2001 concerning the rules for opening and regulating markets, which from the 90th day from the transfer of the last Genco (29 April 2003) lowered the consumption thresholds initially set by the Bersani Decree for identifying eligible customers.

    • Natural gas

    Legislative decree 164 of 23 May 2000 implementing European Community Directive 98/30/EC. It introduces liberalisation of the gas market starting with industrial users to then arrive at domestic users (1 January 2003).

     
  • Liquid assets (Investor Relations Glossary)

    Relates to an investment asset convertible in cash in the short-term period. Among the most liquid assets are: government bonds, deposits on call etc. 

     
  • Liquidation of company (Investor Relations Glossary)

    A phase in the life of the company that begins when a fact occurs resulting in the winding up of the company that can be:

    1. Lapse of the period,
    2. Achievement of the corporate purpose or impossibility to continue that purpose,
    3. Wish of all of the shareholders,
    4. Lack of agreement of the shareholders,
    5. Reduction of the share capital to the legal minimum,
    6. Shareholders’ meeting resolution,
    7. Bankruptcy,
    8. Other reason contained in the incorporation act

    During this period no new operations or corporate activities may be undertaken but only the carrying out of the business affairs in progress and the realisation of the equity of the company.
    The directors, within 30 days from the event that determines the winding up, must call the Shareholders’ Meeting for the deliberations relating to the liquidation.
    They are responsible for the conservation of the corporate assets until they are assigned to the liquidators.

     
  • Liquidity (Investor Relations Glossary)

    Availability of cash. Also indicates the capacity of an investment to be transformed into cash in a short period and without loss in value.

     
  • Long-term charges (Investor Relations Glossary)

    Long-term charges incurred by the company, to be amortised over several accounting periods. Includes the formation, start-up and similar costs, research, development and advertising costs, recorded under assets in the balance sheet.
    The long-term cost must be amortised each year in relation to their residual future utility.
    The long-term assets must be recorded under assets with the consent of the board of statutory auditors and must be amortised within a period not greater than five years. Where the amortisation period is not completed dividends may only be distributed if greater than the distributable reserves which must cover the amount of the costs not amortised.

     
 
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Sustainability in Hera Group
 
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2017 Economic results
 
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