Negotiations between the state and the motorway concessionaires are well advanced.
This package deal includes toll increase on February 1, where a tight completion schedule.
Marathon negotiations last week allowed the state highways and dealers to move forward. Now their roadmap is simple: it is to sign an agreement in 15 points by 15 January 2015. Some points of the agreement (not least) remain to be finalized, but this objective appears today 'attainable hui. January 15 is a mandatory date for February 1 to apply higher motorway tolls, which would be different from the simple application of concession contracts, the rise to particular be published in the "Official Journal" working ten days before its application. Of course, in practice, this rule is not always followed and some publications the "OJ" were made the day before the date of application. But on the sensitive subject of tolls, which is part of the negotiated package deal, it would be politically risky.
Toll increase
On average, across all networks granted, the increase applicable to 1st February is 1.07%, corresponding to 0.57% under the concession contracts and 0.5% of the increase in compensation State fee borne by dealers. Difficult for the government to pass such a significant increase, even if the dealers have to contract law. "Total freeze" claimed by Segolene Royal is equally difficult. Dealers refuse to give up even if only a portion of their revenue (although according to a source, they would not all agree on the subject). They have, however, proposed to the State to defer at least part of the increase in 2015 over 2016 to 2018.
The government must decide on the postponement of dose he wants. This is one of the two major remaining outstanding issues to finalize the overall agreement, knowing that the dealers deviate a scenario where the increase in 2015 would be "spreadable" for an extended period (not beyond 2018).
litigation
The toll increase in 2015 is one of the subjects of the agreement in 15 points to calm the situation regarding licenses. But if the signing of such calendar skidded, this would require a separate agreement in January on the level of tolls and in this case, dealers would not accept anything other than strict enforcement of contracts, resulting in the significant increase in the government wants to avoid. Failing to have, dealers would go to litigation to get it.
Profit sharing
The principle is acquired. This is one of the major points of the 15 of the Agreement. But dealers do not want to surrender to the state profits due solely to their good management, therefore, differ about being judged on their gross operating profit (EBITDA) or internal rate of return. Better is an objective indicator, such as trafficking (the fundamental determinant of profit). Sharing is officially recorded for exceeding an upper limit, but it will take reciprocal by the State if the concession falls below a lower limit. Sharing would not take cash, but concession period; it would be shortened if the upper limit is exceeded and extended below the lower limit. However, the level of these terminals is not yet determined, it is the second major issue still to be finalized to conclude the overall agreement.
In addition, a further increase of the State fee, which would be without compensation or unsupported by dealers, continues to be discussed.
Recovery plan
The comprehensive agreement includes the implementation (finally) motorway stimulus (3 billion euros of work against 3-year extension of current concessions), still not signed by the government to date, while had the green light from Brussels on 29 October.
Finance work
Another important point of the agreement, the creation of an investment fund of several hundred million euros supplied by the Caisse des Dépôts et Consignations and dealers to finance the construction of transport infrastructure.