Italy's largest gas distribution company Italgas has presented its 2017-2023 strategic plan and announced that it would bid for the Italian assets of Spanish gas company Gas Natural Fenosa in an attempt to raise its market share by 1/3. The company, a former Snam's subsidiary that was listed in late 2016, is also considering acquiring smaller distribution companies to add a portfolio of around 200,000 users by 2018-2019.
Italy plans to streamline the gas distribution sector, in which 226 operators are active (2016), and has reduced the number of gas distribution concessions from nearly 7,000 to 177, though the award of concession areas has been delayed. Italgas and its affiliates ares already present in 113 of the 177 new distribution areas, with market shares over 50% in 40 areas (market shares between 25% and 50% in 30 areas).
In addition, Italgas plans to invest €3bn by 2023, including €0.5bn in 2017 and €2.5bn over the 2018-2023 period, with 2/3 of this amount dedicated to network maintenance (€1.3bn) and expansion (€0.6bn) and 27% to smart metering (€0.8bn).
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