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ESG Report of the
ENEA Capital Group for 2020

  • 34. Accounting for subsidies and road lighting modernisation services

34. Accounting for subsidies and road lighting modernisation services

Accounting rules

Subsidies
The Group receives subsidies in the form of tangible assets and reimbursement of costs spent on tangible assets. Subsidies are recognised in the statement of financial position as deferred revenue if there is sufficient certainty that they will be received and that the Group will meet the relevant conditions. Subsidies received as reimbursement of costs incurred by the Group are systematically recognised as revenue in the statement of profit and loss in the period in which the associated costs are incurred. Subsidies received as reimbursement of investment expenditures incurred by the Group are systematically recognised, proportionately to depreciation charges, as other operating revenue in the statement of profit and loss and other comprehensive income throughout the asset’s period of use.
Recognising a subsidy in financial statements depends on the intended use of such financing, e.g.:
  • subsidies received and intended for the acquisition or manufacture of tangible assets are recognised in the statement of financial position as deferred revenue,
  • subsidies for purposes other than those described above are recognised in the statement of profit and loss as other operating revenue

 

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Accounting for income from subsidies and road lighting modernisation services

As at
31 December 2020
31 December 2019
Long-term
Accounting for deferred revenue – subsidies
 168 473 147 268
Accounting for deferred revenue – road lighting modernisation services
 92 689 80 145
Total non-current deferred revenue 261 162 227 413
Short-term
Accounting for deferred revenue – subsidies
 9 326 9 663
Accounting for deferred revenue – road lighting modernisation services
 3 982 3 141
Total current deferred revenue 13 308 12 804

 

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Schedule for accounting for deferred revenue

As at
31 December 2020
31 December 2019
Up to one year
 13 308 12 804
From one to five years
 52 448 49 538
Over five years
 208 714 177 875
Total deferred revenue 274 470 240 217

 

The item ’deferred revenue concerning subsidies' includes mainly EU subsidies and subsidies from the NFOŚiGW for the development of electricity and heating infrastructure.
Road lighting modernisation services, i.e. improving the quality and efficiency of road lighting, are services provided on an on-going basis. Revenue from improving the quality and efficiency of road lighting is recognised proportionally over the economic period of use for the tangible assets created.
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33. Provisions
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35. Financial instruments and fair value

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