Other risks

Terna does not receive any capital grants from the government. In 2009, grants for plants, which are not recorded as financial assets because they are deducted from the net value of the related assets, amounted to €5,843,139.83.

Environmental, social, and governance matters that can become issues in relations with stakeholders, with potentially negative repercussions on the Company’s reputation, are constantly monitored through analysis of the ratings of the most important agencies (such as SAM – Sustainable Asset Management, Vigeo, and Eiris), which produce sustainability assessments.

With regard to the periodical auditing of its economic performance, in addition to the quarterly accounts reported to the financial markets, Terna uses an internal Balanced-Scorecard system for measuring its progress in achieving the goals established by the corporate Business Plan. This management system enables the Company to specify a coherent set of financial, organisational, and capability-development goals and to periodically measure their progress. The goals monitored with the Balanced Scorecard are also used in the incentive scheme as factors regarding the payment of variable components of pay.