Übersicht
The project will finance the second phase of the implementation of an advanced electricity metering system throughout ENEL's concession areas in the period 2023-2024.
The aim is to replace the currently installed remotely manageable electricity meters with a further advanced electricity metering system.
The Project contributes to the Bank's lending priority objectives on "Climate Action and Environmental Sustainability" and aligns with the REPowerEU objectives. Its financing will contribute to the "Energy Lending Policy" theme on "innovative technologies and "new types of energy infrastructure". Moreover, the Project is in line with Italy's NECP (National Energy and Climate Plan), which aims to enable and develop demand response, including via dynamic pricing.
The Project can help address the market failure represented by incomplete markets (provision of real time information to end-customers) and it can improve energy efficiency by reducing overall electricity consumption. Economic benefits include energy savings, the avoided costs of replacing less-advanced meters and concentrators, better complaint management, the possibility of new retail services and the participation of end-user in demand response services.
About 41% of the investments will be in cohesion priority regions.
The EIB financing brings a significant financial value added by lowering the Project's cost of funding and offering a tenor longer than the one normally available in the market. The value added provided by the EIB is even more tangible under the current market conditions, perturbed by the Russia-Ukraine conflict.
No significant environmental impacts expected. The EIB will evaluate the environmental aspects of the project and will review the relevant promoter's procedures applied to implement the project to ensure that they are in line with EU standards and good industry practice.
The promoter has to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/17/EC, and 2014/25/EU where applicable, as well as Directive 92/13/EEC), as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.