“At the expiry of the concession, at the end of the use and in cases of forfeiture, revocation or renunciation of major water derivations for hydroelectric purposes, the works pass, without compensation, into the ownership of the Region in a state of regular operation, including the plants, equipment and systems necessary, directly and exclusively, to their regular operation, control and operation”.
Pursuant to Article 2, Section 1, of Regional Law No. 5 of April 8, 2020, which governs the methods and procedures for the award of concessions for large-scale diversions of hydroelectric power in Lombardy and the determination of the concession fee pursuant to Article 12 of Legislative Decree No. 12 of March 16, 1999, No. 5 of the Italian Civil Code, the Company is required to comply with the provisions of Article 2, Section 1, of Regional Law No. 5 of April 8, 2020, which governs the methods and procedures for awarding concessions for large-scale diversions of hydroelectric power in Lombardy and the determination of the concession fee pursuant to Article 12 of Legislative Decree No. 5 of March 16, 1999. 79 (Implementation of Directive 96/92/EC on common rules for the internal market in electricity), as amended by Article 11 quater of Decree Law No. 135 of December 14, 2018 (Urgent provisions concerning support and simplification for businesses and the Public Administration), converted, with amendments, by Law No. 12 of February 11, 2019.
Among the many other aspects governed by the regional law in question, there are also obligations regarding environmental and energy improvements, compensation measures and the introduction of a concession fee divided into a fixed and a variable component.
The procedures for the allocation of derivations already expired on 11 April 2020 (date of entry into force of the law) must be started by 11 April 2022. For derivations expiring after 11 April 2020, the allocation procedures must be started at least two years before the expiration date.