BAKU, Azerbaijan, July 28. Operating expenses of Spanish Enagas at the end of the first half of 2022 amounted to 186.0 million euros, 30.8 percent higher than in the same period of the previous year, Trend reports with reference to the company.
Personnel expenses increased by 13 percent to 72.5 million euros. This increase is mainly due to a non-recurring effect from terminations (around 6 million euros) and other timing effects. In addition, Other operating expenses, as mentioned in the Operating revenue, reflects the increase in audited costs of around 26 million euros, mainly electricity and CO2 costs, as well as other timing effects and higher activity compared to H1 2021 still affected by COVID-19.
Regulated revenues at 30 June amounted to 469.1 million euros, 0.8 percent year-on-year. On the one hand, regulated revenues are reduced due to the implementation of the 2021- 2026 regulatory framework. However, the regulatory impact has been offset by the remuneration of audited expenses. Other income amounted to 9.2 million euros.
The contribution from affiliates amounted to 99.8 million euros, as a result of the good performance of affiliates, mainly TGP (as a result of the impact of the exchange rate) and TAP (due to a non-recurring negative adjustment included in 2021). In addition, upon the announcement of the sale of the stakes in the Gasoducto de Morelos and GNL Quintero, from December 2021 and March 2022, respectively, the stakes in these companies are recorded as "assets held for sale" and, therefore, their contribution is not consolidated. In the first quarter of 2021, Tallgrass’ contribution included a non-recurring result of 9 million euros mainly due to the extreme cold snap in February, with a positive impact on the contracting of Tallgrass infrastructure.
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