INTRODUCTION

With the publication in the Official Gazzette of DM december 5th, 2013, was in force the modalities of the incentive of biomethane injected into the national gas grid.
The new Decree rules that, pending specific Aeeg’s regulations, it can be applied the dispositions contained in the following legislation:
• DM april 16, 2008 “technical rule for planning, construction, test, management, supervision of works, distribution systems and direct lines of natural gas with a density not more than 0.8”.
• DM april 17, 2008 “technical rule for planning, construction, test, management and supervision of works and transport system of natural gas with a density not more than 0.8”.
• DM febrary 17, 2007 “Passage of technical regulation on the physico-chemical characteristics and on the presence of other components in the fuel gas to be pumped”.

Biomethane incentive
The incentive, paid for a period of 20 year, is equal to the difference between:
• twice the average annual price of natural gas, found in 2012 in the balancing market of natural gas by GME;
• the average monthly price of natural gas, found in each month of release found in the balancing market of natural gas by GME.
As an alternative to this incentive, and is limited to plants with a production capacity up to 500 standard cubic meters / hour, the manufacturer may choose to withdraw biomethane from GSE at a price equal to twice the average annual price of natural gas found in 2012 in the balancing market of natural gas by GME.
In both cases, the incentive is modulated with the following mode:
• the incentive increased by 10% for plants with production capacity up to 500 standard cubic meters / hour;
• the incentive remains unchanged for plant production capacity from 501 to 1000 standard cubic meters / hour;
• the incentive is reduced by 10% for plants with production capacity more than 1,000 standard cubic meters / hour.
If biomethane is produced exclusively from products (Table 1A DM July 6, 2012) and waste, the incentive is increased by 50%.

The total incentive of biomethane for our plants is about 0.93 €, because we use organic waste (take from MSW or agricolture and food industry) and because the plants produce 500 smc/hour.
Our plants have an extimated capex of 6.3 mil.€, with an IRR of 53% and a DSCR of 3.2, as one can see from the business plan.
This extraordinary situation make our company, with a specific know how, the best player for Italian market.
Now we have a pipeline of 12 plants open to investors, for the first plants we have land, technical project and organic waste contract.