Eni operates in the supply and sale of natural gas
In 2014, Eni gas sales (89.17 bcm) were down by 4.3% compared to 2013. Eni's sales in the domestic market of 34.04 bcm decreased by 5.1% driven by lower sales in all the business segments partially offset by higher spot sales. Barely unchanged volumes marketed in the main European markets (42.21 bcm; down 1.1%).
Availability of electricity
Eni's power generation sites are located in Ferrera Erbognone, Ravenna, Livorno, Mantova, Brindisi, Ferrara and Bolgiano. In 2014, power generation was 19.55 TWh, down by 1.83 TWh or 8.6% from 2013, mainly due to lower production at Ravenna and Brindisi plants due to decreasing demand.
As of December 31, 2014, installed operational capacity was 4.9 GW (4.8 GW as of December 31, 2013). Electricity trading reported a slight increase (up 2.6% to 14.03 TWh ) due to higher purchases on the spot market.
In 2014 power sales (33.58 TWh) were directed to the free market (74%), the Italian power Exchange (14%), industrial sites (9%) and others (3%).
Compared with 2013, electricity sales were down by 4.2%, due to lower sales to large clients and wholesalers partially offset by higher volumes traded on the Italian power Exchange.
In 2014 capital expenditure amounted to €172 million, mainly related to initiatives aimed to improve flexibility and upgrade the combined cycle power plants (€98 million) and gas marketing initiatives (€66 million).
In the Gas & Power segment, it is forecasted a structural decline in demand due to lower consumption driven by the macroeconomic crisis, competition of other sources as well as a general oversupply situation in Europe, in the context of an increasing liquidity at hubs.
Main target is the focus on profitability and sustainable cash flow, according the following guidelines:
Cash flow from operations is expected to contribute for €3 billion cumulatively over the four-year plan.
Last updated on 13/05/15