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37 Other current liabilities

 
 31-Dec-201031-Dec-2009Changes
Capital grants 64,130 61,923 2,207
Guarantee deposits61,65260,6141,038
Personnel26,44224,1772,265
Payables due to social security and welfare institutions22,21517,6694,546
Payables due to shareholders for dividends5,8947,364-1,470
Equalisation Fund for electricity service5,5872,1233,464
Payables due to municipalities for environmental disruption
and establishment of guarantees
5,5726,004-432
Third-party project and study work4,8046,823-2,019
Insurance and deductibles2,9114,681-1,770
Customers1,3541,394-40
Directors, Statutory Auditors and Committees for the Territory180237-57
Other liabilities29,30930,319-1,010
Total 230,050 223,328 6,722

Comments are provided below on the most significant items and the associated changes as at 31 December 2009:

The increase in “capital grants” is mainly due to the completion of some investments in the Integrated Water Cycle. This item will decrease in future periods in proportion to the amount of depreciation calculated on the assets referred.

Payables for “guarantee deposits” reflect the sums paid by customers for gas, electricity, and water administration agreements.  The increase compared to 31 December 2009 is attributable almost entirely to the acquisition of new customers.

The item “Personnel” relates to holidays accrued but not yet taken as at 31 December 2010, productivity bonus and accrued salaries recorded.

“Payables due to social security and welfare institutions” relate to contributions due to these institutions for the month of December.

"Payables due to shareholders for dividends" refer to the Parent Company Hera Spa (Euro 1,288 thousand) and to the subsidiary Fea Srl (Euro 4,606 thousand) towards the minority shareholder.

As regards the Equalisation Fund for electricity service, the increase compared to the previous year mainly concerns the equalisation of the electricity sector.

As regards “Insurance and deductibles”, the decrease is in line with the fall in costs (see note 7 “Service costs”).

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