On Friday 27 April, the European Commission approved an Italian plan to extend two motorway concessions and impose a cap on their tolls.
This decision follows an agreement in principle between Margrethe Vestager, the Commissioner for Competition, and Graziano Delrio, the Italian Minister for infrastructure and transport. It will allow some €8.5 billion of investments in the Italian motorways, but without bringing about significant competition distortions.
The plan takes the form of two separate measures. The first consists of prolonging the concessions of two motorway management companies (ASPI until 2042 and SIAS until 2030). These two concessions are accompanied by a cap on potential increases in toll charges, within the limit of the inflation rate plus 0.5%, in order to preserve the purchasing power of the users.
In order to avoid excessive compensation for the companies and to limit potential distortions of competition, several conditions have been set out, such as an upper limit on the amount realised by reselling the assets, a remuneration cap and a minimum required level of infrastructure investments to be made.
The Italian State has further committed not to renew or launch a joint call for tenders for a number of concessions held by SIAS.
Taking account of the positive effects of projects for growth, investments and users, yet without significantly distorting competition, the Commission considered that the plans were compatible with EU state aid rules. (Original version in French by Lucas Tripoteau)