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Una proposta di modifica per lo statuto delle Local Utility dei servizi a rete

Francesco Sperandini ()
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Francesco Sperandini: CEDEC (European Federation of Local Energy Companies), Brussels

Rivista di Politica Economica, 2014, issue 1, 239-251

Abstract: Local utilities managing grids need more and more means to meet their aims: (i) to maintain the assets’ lifespan over the time; (ii) to upgrade the assets to the state-of-the-art; (iii) to increase the assets to fulfill the new requests in order to universal service. So that it’s essential to minimize the dividend payment because, in this kind of companies, cash is not available for the shareholders: it is predestined and it serves the purpose of rebuilding the grids in the amount of depreciation. Local Utilities, effectively, are not cash cow; the value is captured, over the time, into their assets.Furthermore, the local utilities sector needs long-term investors, not businessmen. The question if it’s better a public operator or a private operator to run the business has no sense.

Keywords: public utilities; regulated industries (search for similar items in EconPapers)
JEL-codes: L43 L51 (search for similar items in EconPapers)
Date: 2014
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