For further information on all the risks and uncertainties to which the companies in the Acea Group are exposed, please read our 2018 Consolidated Financial Statement.
For further information on our central monitoring stations for particular risk categories, please read our Report on corporate governance and ownership structures.
Function Risk & Compliance
In 2017, the Board of Directors integrated the Risk & Compliance Department into the macro-structure. It then continued in 2018 to underpin this fundamental supervision, in order to regulate and manage the SCIGR (Internal Control and Risk Management System). More specifically, the department was assigned the task of:
As is well-known, Acea operates mainly on regulated markets: the change in operational rules for these markets and the provisions and obligations, which characterise them, can significantly affect our results and business performance.
Therefore, the Group has established a structure, which can create closer relationships with local and national governance and regulatory organisations. This structure ensures the developments in legislation are constantly monitored not only during the support stage, during which comments and observations on the Consultation Documents are prepared according to group interests, but also in the consistent application of the legislative provisions within our corporate processes and electricity, gas and water businesses.
The Group is exposed to various market risks, more specifically:
To contain exposure to within set limits, the Group has stipulated hedging contracts, using the types on offer on the market.