Neutral
Informational - no clear directional impact
Low Impact
Minor progress or informational
Under the cross-border cost allocation and financing arrangements agreed by ARERA and CRE, EDF is scheduled to make a significant lump-sum payment to Terna in 2025 as part of its 45.5% contribution to Terna’s SACOI 3 CAPEX, a transfer that the regulators note will already partly address the project’s rising costs and financing complexities.