28.1 Other current financial assets included in net financial debt - €4,971 million

 

Millions of euro        
  at Dec. 31, 2020 at Dec. 31, 2019 Change
Current portion of long-term financial assets 1,428 1,585 (157) -9.9%
Securities at FVOCI 67 61 6 9.8%
Financial assets and cash collateral 3,223 2,153 1,070 49.7%
Other 253 359 (106) -29.5%
Total 4,971 4,158 813 19.6%

 

The change in the item is mainly attributable to:

  • €1,070 million in respect of an increase in cash collateral paid to counterparties for derivatives transactions;
  • €157 million in respect of the reduction in the current portion of long-term financial assets, which essentially reflects:
    • the decrease in financial assets relating to the deficit of the Spanish electricity system (€71 million);
    • the offsetting in 2020 of financial assets relating to the Brazilian rate deficit with a number of liabilities for regulatory items following the settlement of a court dispute and the ruling of the judicial authorities in favor of the concession holders of the public electricity distribution service (€95 million);
    • an increase in financial assets for security deposits (€46 million);
  • €106 million in respect of a decrease in the residual item “other”, mainly reflecting the reduction in a number of financial assets in South Africa and Italy and the depreciation of currencies in Latin America.