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Page from the Sustainability Report

2012 Incentive schemes

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The AEEG has introduced a specific bonus and penalty scheme aimed at incentivizing service improvement, in both technical and economic terms. Implicit in the incentive mechanisms is the assumption that if the objectives are achieved, the benefit for the users of the service will be a multiple of the incentive paid to Terna. In particular, in 2012 incentive mechanisms were provided for:

Service continuity and quality

Continuity is the most important parameter for measuring the performance of the electricity service. All the segments of the electricity system – generation, transmission, and distribution – contribute to the final result: ensuring society the availability of electricity with outages below pre-established thresholds and with appropriate standardsof technical quality.

Value added

In the period 2010-2012, the value added generated by the Group increased by 23.8% with regard to its continuing operations and by 9.5%, when the added value of discontinued operations relative to 2010 are included.

During the 2010-2012 three-year period, the incidence of remuneration of employees (on average 22.9%) and borrowed capital (on average 13.8%), relative to the total net added value of ongoing activities was essentially stable.

Sustainability indexes

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Terna's commitment to improving its ESG (Environmental, Social, Governance) performance is positively reflected in its sustainability ratings, inclusion in the main international stock exchange sustainability indexes and the appreciation seen from socially responsible investors.

During 2012 Terna presence was confirmed in all the main international stock exchange sustainability indexes and it was included in Vigeo's new range of ESG indexes.

Suppliers: qualification and monitoring

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Revision of the environmental and social oversight in the supply chain 

In 2012, Terna launched a project to verify the level of coverage offered by the current qualification procedures for Group suppliers and procurement, compared to the ESG (environmental, social, governance) dimensions, with the purpose of identifying and proposing possible improvements.

Mission

Terna is a leading grid operator for energy transmission. The Company manages electricity transmission in Italy and guarantees its safety, quality and affordability over time. It ensures equal access conditions for all grid users.

It develops market activities and new business opportunities with the experience and technical expertise acquired in managing complex systems. It creates value for shareholders with a strong commitment towards professional excellence and with a responsible approach towards the community, fully respecting the environment it operates in.

Engineering and innovation

To introduce new technological and plant solutions, new instruments and methods aimed at improving the reliability of plants and in turn, service quality, Terna mainly uses in-house technicians who base their work on the careful monitoring and analysis of the performance of equipment and plants. Terna also uses the specialised support of manufacturers, collaboration with universities, RSE S.p.A. (Ricerca Sistema Energetico) and CESI S.p.A., a specialised service company in which it has a 42.698% equity investment.

Grid development

in the generation and consumption of electricity. Both supply and demand of electricity grow at different rates in different areas of Italy. The combination of these elements changes the flows of electricity in the system, causing congestion on the existing grid.

Accumulation systems

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Italian Legislative Decree No. 28 of 3 March 2011 (Implementation of Directive 2009/28/CE on the promotion of the use of energy from renewable sources) provides that operations planned by Terna in the NTG Development Plan can include electrical energy accumulation systems aimed at “fostering the dispatching of non-programmable plants”.

The Strategic Plan

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The Strategic Plan for the period 2013-2017, after approval by the Company’s Board of Directors, was presented on February 6, 2013. It can be summarized in the following points.

Core Business

Grid development is the priority, also introducing new technologies

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