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Italgas boosts spending on grid as 9-month profits rise -Breaking

by Mike Robinson

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© Reuters.

Italgas, Italy’s largest gas distributor reported a 4.9% increase in core profits over the past nine months. Italgas increased its investments to digitalize its grid faster and make it more ready for renewable gasses.

In a statement, Chief Executive Paolo Gallo stated that more than 610 millions euros has been invested to keep Italgas as the first utility worldwide to have a digital network.

Italgas has 74,000 km of gas pipelines. Core earnings increased 4.9% to 749 Million Euros ($871.69million). Group adjusted net profit rose 10.5%, to 273.6 Mio. euros.

($1 = 0.8593 euros)

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