Annual Report - EDP

notes to the consolidated EDP and - Energias company de Portugal, financial S.A. statementsfor the years Notes to ended the Consolidated 31 december and Company 2012 Financial and Statements 2011for the years ended 31 December 2012 and 2011Consequently, EDP Group is currently using all available legal means to defend its interest and those of its shareholders, based on the conviction that reason is on itsside, both from a legal and tax perspective, being at this moment in the inicial phase of the judicial claim. As a result of the administrative appeal implied dismissing,EDP presented a judicial claim, on 6 June 2012.38. INSTITUTIONAL PARTNERSHIPS IN USA WIND FARMSThe caption Institutional partnership in USA wind farms is analysed as follows:GroupThousands of Euros Dec 2012 Dec 2011Deferred income related to benefits provided737,598 773,252Liabilities arising from institutional partnerships in USA wind farms942,155 1,010,6091,679,753 1,783,861EDPR North America books the receipts of institutional investors associated with wind projects. This liability is reduced by the amount of tax benefits provided andpayments made to the institutional investors during the period. The amount of tax benefits provided is booked as a non-current deferred income, recognised over theuseful life of 25 years of the related projects (see note 8). Additionally this liability is increased by the estimated interest based on the liability outstanding and theexpected return rate of the institutional investors (see note 15).As referred in the note 2 a), EDP Group changed the presentation of Deferred tax equity costs to be deducted to the caption Institutional partnerships in US wind farms.Prior to 2012, amounts included in transaction costs related to institutional partnerships were included as a component of non-current Other debtors and other assets.In 2012, the EDP Group included these transaction costs as a reduction of Institutional partnerships in USA wind farms instead of an asset (see note 27). In accordancewith IAS 1, the Group has retrospectively reclassified amounts within 2011 comparative figures to conform to this change in presentation. The Group reclassified 12,948thousands of Euros as at 31 December 2011 from Other debtors and other assets – Non-current - Sundry debtors and other operations to Institutional partnerships inUS wind farms.39. TRADE AND OTHER PAYABLES FROM COMMERCIAL ACTIVITIESTrade and other payables from commercial activities - Current, are analysed as follows:GroupCompanyThousands of Euros Dec 2012 Dec 2011 Dec 2012 Dec 2011Suppliers 1,169,387 1,110,659 236,425 250,114Accrued costs related with supplies 391,834 371,858 175,934 180,632Property, plant and equipment suppliers and accruals 731,769 788,496 6,708 5,342Holiday pay, bonus and other charges with employees 142,229 154,622 7,284 14,861CO 2 emission licenses 142,084 185,154 - -Amounts payable for tariff adjustments - Electricity - Portugal 144,994 67,473 - -Amounts payable for tariff adjustments - Electricity - Spain 8,280 39,624 - -Other creditors and sundry operations 490,022 578,794 61,735 57,7443,220,599 3,296,680 680 488,086 508,693Trade and other payables from commercial activities - Non-Current, are analysed as follows:GroupThousands of Euros Dec 2012 Dec 2011Government grants for investment in fixed assets 522,551 541,850Amounts payable for tariff adjustments - Electricity - Portugal 842 12,376Energy sales contracts - EDPR NA 49,449 61,664Deferred income - CMEC 392,841 377,508Amounts payable for concessions 240,051 247,933Other creditors and sundry operations 57,037 48,1051,262,771 1,289,436The movement for the period in Amounts payable from Portuguese tariff adjustments - Electricity (Current and Non-current) is analysed as follows:Thousands of Euros Current Non-CurrentBalance as at 1 January 2011 173,831 61,557Payment through the electricity tariff -175,952 -Tariff adjustment of 2010 - 1,754Tariff adjustment of the year - 12,135Interest expense 3,768 241Transfer to tariff adjustments receivable 2,515 -Transfer from Non-Current to Current 63,311 -63,311Balance as at 31 December 2011 67,473 12,376Payment through the electricity tariff -70,177 -Tariff adjustment of the year 141,202 -Interest expense 4,453 -Transfer of tariff adjustment to receive -10,333 842Transfer from Non-Current to Current 12,376 -12,376Balance as at 31 December 2012 144,994 842234A World Full Of Energy