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Italgas: Fitch Ratings affirms Rating and Outlook

Milan, December 16 2025 – The rating agency Fitch affirmed today Italgas S.p.A.’s Long-term Issuer rating at ‘BBB+’, Stable Outlook.

 

The rating affirmation follows the presentation of the 2025–2031 Strategic Plan and reflects Italgas’ position as leading player in the gas distribution sector in Europe, its high-quality operational efficiency, its financial strength and flexibility as well as the stability of the Italian regulatory framework.

 

The Stable Outlook reflects Fitch’s expectation on Italgas deleveraging over the plan horizon, supported by a funds from operations (FFO) net leverage better positioned relative to the thresholds associated with the current rating.

Italgas confirmed in the CDP’s “Climate A list”

Milan, 10 December 2025 – Italgas has been confirmed for the fourth consecutive year in the prestigious “A List” for Climate Change compiled by the non-profit organization CDP (formerly Carbon Disclosure Project), which includes global leading companies for transparency of information and performance in the fight against climate change.

Italgas also participated in the “Water” section of the questionnaire, obtaining a “B” rating.

In 2025, CDP assessed more than 20,000 companies worldwide, investigating issues related to climate change, forests, and water security.

The result achieved demonstrates the validity of the initiatives set out in the Strategic Plan, confirming the company’s concrete commitment in the fight to climate change and in safeguarding water resources. CDP’s evaluation considers the completeness of information, awareness and management of environmental risks, the presence of ambitious targets, as well as the demonstration of best practices associated with environmental leadership.

Enaon (Italgas Group): €1 Billion Investment Plan by 2031 to Accelerate Greece’s Energy Transition

Athens, December 4, 2025 – Italgas reaffirms its commitment to Greece’s energy development and, through its new 2025–2031 Strategic Plan, has approved €1 billion in investments aimed at expanding and digitalising the country’s gas distribution network. The implementation of the Plan is entrusted to Enaon, the company responsible for gas distribution in Greece.

The Plan includes the extension of distribution networks into areas not yet served, creating the conditions to foster the development and integration of renewable gases – such as biomethane – in order to accelerate the decarbonisation of energy molecules. By 2031, over 2,500 km of new networks are expected to be built, more than 2,200 km of which at low pressure – 38% co-funded – with the remainder at medium pressure, primarily intended for supplying gas to industrial customers.

Alongside infrastructure development, part of the investment is earmarked for the advanced digitalisation of assets and operational processes. The Plan provides for the integration of Group ICT platforms, the adoption of new solutions for field service management, and the application across Enaon’s network of artificial intelligence technologies already deployed in Italy.

Additional enhancements are also planned for the Athens Command and Control Centre, already operational, which ensures continuous monitoring and remote management of the infrastructure. New supervision systems and sensors will be installed at pressure regulation stations as well. The digital transformation plan also includes the completion of the programme to replace traditional meters with “H2-ready” smart meters, due to begin in the third quarter of 2026.

“With Enaon we are building in Greece a fully digital infrastructure, monitored and managed in real time through the new Athens Command and Control Centre. The integration of the DANA platform and the installation of ‘H2-ready’ smart meters will enable the rapid deployment of renewable gases. This pathway is supported by a significant investment plan that strengthens our commitment to the safety, sustainability and competitiveness of the country’s energy system,” said Paolo Gallo, CEO of Italgas.

 

Thanks to the recent activation of the network, the areas in Western Macedonia,  Central Macedonia  Central Greece, Western Greece, and Epirus (Florina Kastoria,  Veria, Alexandria, Karpenisi, Amfissa, the industrial zone of Patras and within December 2025 Industrial Zone of Epirus are now steadily supplied with natural gas. This marks an important step in the implementation of co-funded projects. A significant increase in customers is expected, rising from 639,0009 in 2025 to nearly 1 million by 2031. This growth will be accompanied by improved service quality, greater network efficiency and a substantial contribution to the country’s energy security.