Almost two years have passed since the collapse of the ponte Morandi in Genoa and since then politics has often focused on the concessions. The M5S considers the revocation of Autostrade per l’Italia (Aspi) the only possible action from a governmental point of view. However, the situation has stalled, given that the state would have to pay around € 7 billion to do so. Without Milleproroghe there would have been 23.
The last chapter of this story was written with the management by Aspi of the new bridge over the Polcevera, built in place of the Morandi. The announcement came from the Transport Minister, Paola Of Micheli, and sparked a new political debate, with the M5S highly critical. In the meantime, Autostrade has released a note in which it underlined how a radical change in management and all company processes has been completed. And how “investments of over 1 billion were made in two years, increase maintenance costs by more than 50%, all checks on the network carried out by external companies “.
Bankitalia and the Aspi report: tolls on the rise, work halved
But the issue of concessions also intervened Bank of Italy, with a report to the Senate Public Works Commission. In the report sent by Fabrizio Balassone, head of the Institute’s Economic Structure Service, highlights how Autostrade recorded a remarkable figure increase in revenues thanks to the increase in tolls but a commitment to spend on investments practically halved.
The highlights of the report:
- between 2009 and 2018 toll revenues grew by 28% in nominal terms and by 13% in real terms, mainly as a consequence of the constant increase in tariffs;
- in the same period, the annual investment expenditure almost halved, reaching the minimum in 2017;
- most of the expenditure was earmarked for upgrading the existing network.
How much Aspi has earned and spent in the past 10 years
The report contains all the figures referring to 7 thousand highway kilometers, 6 thousand of which are subject to tolls. The analysis says that Aspi’s annual revenues have increased from 4.8 to 6.1 billion euros
Annual revenues from motorway tolls are increased from 4.8 billion euros to 6.1 billion euros. However, it is good to underline how this figure is enlarged by the proceeds of the service area concessions. In 2018 alone, for example, revenues other than tolls amounted to 468 million euros.
On the other hand, as regards investments and maintenance, Bankitalia has communicated that this expenditure has in fact halved, hitting a low in 2017. Looking at the numbers, between 2009 and 2018 the annual expenditure was equal to 1.6 billion euros however, following a decreasing trend (-46% in nominal terms, -51% in real terms). It involved around 60% of the maintenance and upgrading of the existing network, while around 40% of the construction of new works.
From 2013 – the report specifies -, the gap between actual and planned investments has widened, reaching its highest value in 2015, the year in which actual investments amounted to about half of those expected. Subsequently, the gap between planned and realized investments decreased, mainly due to the decrease in planned investments, which decreased by 58% between 2015 and 2018, against a 29% of investments made.
How much Aspi has spent on ordinary maintenance
The main node is that relating to ordinary maintenance, necessary to ensure that no more bridges or tunnels fall. In the decade 2009-2018, Bankitalia observed in relation to the 2018 report on motorway concessionaires prepared by MIT itself, the average expenditure in Italy in the interventions of maintenance ordinary on the highway network was of 690 million euros per year.
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