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22 Inventories

Raw materials and stocks 68,926 47,918 21,008
Finished products701790-89
Advance payments3,1345,172-2,038
Total 72,761 53,880 18,881

"Raw materials and stocks", stated net of an obsolescence provision of Euro 675 thousand (Euro 564 thousand as at 31 December 2010) are comprised mainly of gas stocks, Euro 45,157 thousand) Euro 24,820 thousand as at 31 December 2010) and raw materials and stocks (spare parts and equipment used for maintenance and running of operating plants), equal to Euro 23,769 thousand (Euro 23,098 thousand as at 31 December 2010).
The change, compared with 31 December 2010, is attributable to the increase in the price of gas and higher stocks of gas destined for the domestic market before the end of the thermal season (March 2012).

The item "Advance payments", amounting to Euro 3,134 thousand, relates to advance payments on gas supply, down compared to the previous year mainly as a result of the renegotiation of the payment terms on a long-term contract.

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