History

Terna – Rete Elettrica Nazionale S.p.A. – has been an essential industrial reality for years, among the leading players of the national energy scenario. On November 1, 2005 the unification of the ownership and management of the National Transmission Grid became effective headed by Terna, as part of the liberalisation process of the electricity market that included the privatisation of the grid ownership and the establishment of many different market competitors in Italy and abroad. The appointment of the Company’s new Board of Directors with Luigi Roth and Flavio Cattaneo, respectively as Chairman and CEO, marked the beginning of a new approach towards the development of the Italian electricity grid and its investments.

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Below is a brief summary of Terna’s most recent history.

  • May 31, 1999 the Terna Company was established within the Enel Group in compliance with Legislative Decree no. 79/99 (“Bersani Decree”) that, as part of the liberalisation process of the Italian electricity sector, authorised the separation between the ownership and the management of the National Transmission Grid. Terna’s activities concern the operation and maintenance of the National Transmission Grid’s plants and systems belonging to the Enel Group and their development according to the guidelines issued by the GRTN (Gestore della rete di trasmissione nazionale- National Transmission Grid Operator).
  • June 23, 2004 Terna was listed in the Italian Electronic Stock Exchange.
  • March 31, 2005 Enel transferred to institutional investors 13.86% of Terna’s share capital that it owned.
  • September 15, 2005 Enel transferred 29.99% of Terna’s share capital to Cassa Depositi e Prestiti and the Company took on its present shareholding structure.
  • November 1, 2005 the unification of ownership and management of the transmission grid became effective headed by Terna.
  • November 2, 2005 the shareholders’ meeting appointed the new Board of Directors for the 2005-2007 three year period; Luigi Roth as Chairman and Flavio Cattaneo as CEO, reconfirmed for a second three-year term on April 28, 2008.
  • From 2005 to 2009 Terna acquired over 5,000 km of grid from Acea, Edison, AEM Milano, AEM Torino, A2A and 18,000 km from Enel consequently owning more than 60,000 km of power lines, over 98% of the national electricity grid. In 2009, moreover, Terna sold its shareholding in Terna Participações, equal to 66% of the capital.