Regulatory Other

On 14 January 2025, ARERA (Italy's energy regulator) issued Parere 4/2025/I/EEL on Terna's draft 2023 Ten-Year National Transmission Grid Development Plan, formally requiring Terna to carry out analyses to define optimal timing for the realisation of the second pole of the Italy–Montenegro HVDC interconnection (MON.ITA. 2, project code PdS 401-S). The opinion was issued against a backdrop of multi-year suspension of activities on the second pole and the conditional nature of its benefits on the rollout of the Trans-Balkan Corridor and Balkan market integration. Terna's responding study, published in March 2025, formed the basis for revised commissioning expectations and CAPEX estimates for Pole 2, replacing the prior 2027 estimate from the 22 May 2023 supplementary plan with a new 2030–2032 window. This regulatory request marked the formal restart of timing-and-economics work on the second pole and is the proximate trigger for any subsequent procurement activity Terna may launch from Q3 2025 onwards.</description> <parameter name="regulatory">{"authority_name": "ARERA (Autorità di Regolazione per Energia Reti e Ambiente)", "permit_type": "Regulatory opinion (Parere 4/2025/I/EEL) on Ten-Year National Transmission Grid Development Plan 2023"}