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“AASS is the most important public company in the country because the type of services it provides to citizens and businesses is something we all value. This value must absolutely be preserved, also based on the structural and strategic investments that it can make.” In this spirit, the Minister of Labor presented AASS with the final budget of his delegation to the legislature. “I would like to remind you that I had already sent this same delegation when I was Minister of Tourism, between 2013 and 2016, and I remember well the health of AASS when I left it at the end of that year. The role: investment reserves of around 70 million, good liquidity and strong company. A few years later, when I met General Manager Chiarucci at the beginning of 2020, the situation was very different: the portfolio was almost zero and its resources had been allocated to other projects of the Public Administration, with a clear goal: the decline in profits and liquidity, although not an emergency, was a real cause for concern. We took note of it and started again from there”, explains Lonfernini, together with President Raffaelli and Director Chiarucci, “with not only this challenge but also the COVID-19 pandemic and its consequences, the worst energy crisis in modern history. Today, we can talk about an energy-financial default not only of AASS, but of the entire State system, which, on the contrary, presents a balance sheet for 2023 that is completely back to health: operating profit of almost 40 million dollars, of which 5.6 has been transferred to the State budget; we have restructured about 3 10 million euros allocated, funds that can be used immediately for infrastructure projects and strategic works: we have restored liquidity to more than 50 million euros, half of which has been invested in safe financial securities. The figures speak for themselves”, warns Lonfernini, “which has not led to cuts or reductions in services, on the contrary: ordinary and extraordinary maintenance of the water, electricity and gas distribution networks continues, we have reached 25% of the water meters have been replaced according to a very specific action plan. We have also completed the fiber optic project, which today makes us the first fully wired country in the world, thanks to the work done by our main interlocutor, Cortes. “
But even more important are the economic results that have pleased the Secretary of State, the Board and the entire company: “During these difficult years, the company’s organization has also undergone fundamental changes”, explains Raffaelli, “the first of which was the introduction of figures dedicated to management control, which has allowed us to achieve significant improvements in the structure of costs and credit recovery. The recovery today amounts to millions of euros and will continue on this path in the coming months. On the other hand, thanks to our consultant Key to Energy, the strategy adopted during the most difficult period of the market has avoided the worst, guaranteeing not only supply but also a reasonable price”. This is reiterated by Lonfernini once again: “Despite the growth identified over the years, our net tariffs remain advantageous, with 58% for electricity and 32% for gas compared to the surrounding areas. All this is in favor of San Marino users, citizens and businesses”.
Another theme concerns investments in current and future structures and infrastructures, “also in terms of energy autonomy”, Chiaruzzi points out: “We are focusing on solar energy, which alone will account for 25% of all existing plants in 2023, a fact that has shifted production levels allowing us to cross the 25 MW production threshold”. Obviously, this is not enough to meet demand, so the strategy developed also includes the construction of other power plants in and outside the territory, “given our size”, explains Lonfernini, citing the wind farm in Liguria, “which remains a good investment for us”, and the entry into the shareholding structure of Romagna Acques, “with which the company is in dialogue”.
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