By November, Sorgenia should approve a new industrial plan in the Board of Directors to adapt to the evolution of the Italian energy market, in which a strong crisis in demand and prices persists.
Among the changes compared to the plan of two years ago (which supported the approval by the Court of Milan of the 1,8 billion debt restructuring plan) a possible return to the retail market stands out, a focus on industrial customers with the aim of significantly increasing customers but also the prospect of consolidation on the market through the possibility of agreements with other operators, which however can only be initiated in the face of certain legislation on the capacity market.
The latter is currently being examined by the Brussels authorities and represents the remuneration system for the flexibility offered to the system by new generation combined cycle plants (Sorgenia has four of them). Last February, with the approval of the debt restructuring plan, Sorgenia officially passed from the control of the Cir-Verbund tandem to that of the banks, which converted 400 million loans into shares.
The debt, from 1,8 billion pre-restructuring, should reach around 1 billion euro thanks also to the sale of the wind power assets and the collection of CO2 credits from the State for around 90 million.
