Edison sells Edison Stoccaggio to Snam
Edison announced on July 25th 2024 that it has signed an agreement for the sale of 100% of Edison Stoccaggio, for an Enterprise value of approximately 560 million euros, to the Snam Group, a company active in the regulated gas market in Italy, which will support its long-term development. The transaction allows Edison to cash-in up to 630 million euros – resources that will be allocated to the development of low CO₂ emissions activities.
What is Gas Storage?
By storage we mean the storage in underground structures of natural gas withdrawn from the national transport network and subsequently reintroduced into the network according to market demands.
A ongoing, safe and reliable supply
Storage is basic to ensure safety and continuity of the gas supply to companies and citizens all year. Indeed, gas imports are stable throughout the year, while gas consumption shows a significant seasonal variability, with winter peaks even 4 times higher than the summer ones. The gas storage activities balance the different needs between supply and consumption of this energy source in order to guarantee a steady, safe and reliable supply. In spring and summer, the natural gas provided by the supply system is stored in storage facilities and in winter, when consumption increases (especially the civilian one, due to the greater use of gas for heating), the gas gets reintroduced into the transport network so that it can reach any consumption points.
Our activities
We have been active in gas storage since 2004 through our subsidiary Edison Stoccaggio S.p.A., the second largest operator in Italy. The Edison Stoccaggio hub currently includes 3 fields: Cellino (TE), Collalto (TV) and San Potito and Cotignola (RA).
