Glossary
Cathode Protection
Method of protection against corrosion for pipelines, tanks, plants, wharves, etc. consisting in protecting a metallic structure by making it “cathodic�?, or electrically negative, by its connection to a series of suitably placed anodes.
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Amortisation and depreciation
The systematic allocation of the depreciable amount of an asset over its useful life. -
BAR
Unit of measurement for pressure
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Cash Flow
Cash and cash equivalents generated by an entity over a certain period of time. -
Cathode Protection
Method of protection against corrosion for pipelines -
Comprehensive income
Includes both net income for the period and changes in equity, which are recognised in equity in accordance with international accounting standards. -
Controllable fixed costs
Fixed operating costs of regulated activities. -
Core business revenue
Income from selling goods and/or providing services that are integral to the core business. -
Corporate Governance
Set of rules that monitor and direct the management and control of an entity. -
Derivatives
Financial instruments with a price/yield profile that derives from the price/yield parameters of other major instruments. -
Dividend
Payment to shareholders. -
Dividend payout
Ratio between the dividend and net profit for the period.
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EBIT
Difference, in a given period, between sales, services revenues, other revenue, operating costs, amortisation, depreciation and impairment losses. -
EBITDA
Used by Snam in its internal and external presentations. -
Energy efficiency
Energy efficiency policies -
Entry point (NN)
Each of the points or local group of physical points of the National Gas Pipeline Network at which gas is delivered by the User to the Transporter. -
Excise Duty
Indirect taxADDITIONAL LINKS
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Gas Day
Period of 24 consecutive hour -
Gas pipeline
Pipeline used for the transportation of natural gas -
Inch
Equal to 2.54 cm -
Injection phase
Period from 1 April to 31 October of the same year. -
Investments
Costs incurred for the acquisition of long-term assets where the useful life does not expire over one reporting period.
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Joule
Unit of energy.
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Liquefied Natural gas (LNG)
Natural gas, mainly consisting of liquefied cooled at - 161°C. -
Low environmental impact
Low environmental impact emissions -
Mining storage
Mining storage is necessary for technical and economic reasons in order to enable the optimum cultivation of Italy’s natural gas fields. -
Modulation storage
It aims to respond to changing hourly, daily and seasonal demands.
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National gas transportation Network (NPN)
The network comprises pipelines listed in article 2 of the Ministerial decree dated 22 December 2000 -
Natural Gas
Mixture of hydrocarbons, composed mainly of methane and with some small amounts of ethane, propane and higher hydrocarbons. -
Natural gas transportation network
The aggregate of gas pipelines, line plants, compression stations and infrastructure. -
Natural Transportation network
The pipelines, compression stations and other infrastructures -
Net financial debt
A valid indicator of the ability to meet financial obligations. -
Net financial expenses
A valid indicator of the ability to meet financial obligations. -
Net invested capital
Net investments made for operating reasons -
Net profit
EBIT minus the result from financial operations and income taxes. -
Network code
Set of rules -
Net working capital
Capital which is invested in short-term assets. -
Nominal Diamater (ND)
The ND is conventionally measured in mm -
Non-current Asset
Items in the balance sheet -
Operating Cost
Costs incurred to carry out the entity’s core business.
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Phytodepuration
Closed cycle phytodepuration systems fot the treatment of domestic wastewater at gas compressor stations
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Redelivery Point
Physical point or local group of physical points on the network. -
Regasification Code
Document which sets out the rules and processes characteristic of the natural gas regasification service. -
Regasification LNG
Industrial Process applied to LNG -
Regasification Tariffs
Unit prices applied for regasification. -
Regional transportation network (RTN)
Gas pipelines with the function to move and distribute gas in demarcated local areas. -
Regulatory Asset Base (RAB)
Value of net invested capital for regulatory purposes. -
Regulatory period of Natural gas storage
Period of time (usually four years). -
Regulatory period of Natural gas transportation and regasification
Period of time (usually four years). -
Regulatory time lag
The delay of tariff remuneration with respect to the investments made and started during the year. -
Sector coupling
The European Commission identifies sector coupling as a strategy that provides more flexibility to the energy system in order for decarbonisation to be achieved in the most cost-effective way (DG ENER (2018) Request for services no. ENER/B2/2018-260 - Potentials of sector coupling for the EU natural gas sector - Assessing regulatory barriers). -
Shareholders’ equity
Total resources contributed by shareholders, plus retained profits and minus losses. -
Standard Cubic Metre
Unit of measurement of volume (sm3) used for gas -
Strategic storage
Strategic storage aims to compensate for a lack of or reduction in imported supplies, or for crises in the gas system. -
Superior calorific power (SCP)
The quantity of energy produced by the complete combustion of a unit of natural gas under certain conditions
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Take or pay
Clause included in natural gas supply contracts, according to which the buyer is required to pay, either wholly or partially, the contractual price of a minimum quantity of gas shown in the contract, even in the case that it not take the gas -
Thermal year of Natural gas storage
Period of timeADDITIONAL LINKS -
Thermal year of Natural gas transportation and regasification
A period of timeADDITIONAL LINKS -
Transportation capacity
The maximum quantity of gas which can be injected into the system (or withdrawn from it) during the course of a gas day. -
Transportation Tariffs
Unit prices applied for transporting and dispatching natural gas. -
User
The user of the gas system.
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Virtual trading point (PSV)
Virtual point located between the entry and exit points of the national pipeline network -
Watt
Unit of energy. -
Withdrawal phase
Period from 1 November of one year to 31 March of the following year.
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updated
05 August 2016 - 16:41 CEST
05 August 2016 - 16:41 CEST