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the profitability, on the electricity business and on customer service.” 145
Endesa had profits of 11.995 billion Euros in the first nine months of 2003 and
“earnings before interest and taxes (EBIT) rose by 1.4% to 2.295 billion Euros.” 146
Endesa is Chile’s largest private corporation: The Chilean subsidiary of the
Spanish parent enterprise Endesa, Enersis, had in 2002 annual sales of 3.45 billion
US-dollars and has a subsidiary in Chile that acts under the name of the Spanish
parent company, Endesa, which had a turnover of 1.3 million US-dollars in 2002. 147
Endesa has been a thorn in the side of environmentalists and the Mapuche population
for years because of the six (in part planned and in part already completed) hydroelectric
power stations in the Bío-Bío region. 148 The same is true for Endesa in the
Brazilian federal state of Goiás, were in 2003 a parliamentary inquiry committee, CPI,
concluded that the selling of the hydroelectric power station Cachoeira Dourada and
the subsequent exclusive energy-supply contract between Endesa and the federal
state was not only illegal and can be considered an adhesion contract, but that it has
also created a damage of 715 million Reais for the federal state of Goiás. 149 In April
a court 150 had suspended this contract, because it had set monthly costs of 17.5
million Reais for the energy to be supplied, even though the average price at this time
was 7 million Reais for the same amount. 151
Moveover, the Spanish Repsol had catapulted itself to the top 152 through the acquisition
of the Argentinian oil company YPF for 15.2 billion US-dollars and currently
has to confront a legal dispute with the Mapuche population who demand compensation
for damages of 445 million US-dollars from YPF Repsol. 153 In Brazil the
Luxemburgian steel-giant Arcelor, the world’s largest steel-producer, has positioned
145
http://www.endesa.es/english/index.html.
146
dpa/afx, October 22, 2003.
147
AméricaEconomia, July 4-31, 2003, p. 68.
148
See, e.g.: http://www.irn.org/programs/biobio.
149
“Venda de Cachoeira Dourada e Contrato de compra de energia foram lesivos a Goiás. O presidente da Central
Energética de Goiás (Celg), José Paulo Loureiro, disse em depoimento à CPI de Cachoeira Dourada nesta quartafeira
(25), que o contrato de compra de energia pela estatal da usina de Cachoeira Dourada foi “extremamente
lesivo ao Estado de Goiás. “Tanto foi que gerou um prejuízo, de setembro de 1997 a fevereiro deste ano de R$
715 milhões”, afirmou.” http://www.paulogarciapt.com/acervo.asp?materia=2100 Own translation: “The selling
of Cachoeira Dourada and the energy supply contract were harmful to the state of Goiás. The president of the
Central Energética de Goiás (Celg), José Paulo Loureiro, declared to the Parliamentary Investigation Committee
(CPI) of Cachoeira Dourada this Wednesday (25), that the energy supply contract for the state enterprise Cachoeira
Dourada was extremely harmful for the state of Goiás. “It went that far as to produce losses, between September
of 1997 and February of this year, of 715 million Reais,” he said.”
150
3ª Vara da Justiça Federal em Goiás.
151
http://www.paulogarciapt.com/acervo.asp?materia=2100.
152
Catalano, José: Las negociaciones MERCOSUR-Unión Europea: una visión desde la sociedad civil, preliminary
version, December 2002, p. 30.
153
Torrelli, Claudia: MERCOSUR for sale? The EU’s FTAA and the need to oppose it. Corporate Europe Observatory
(CEO) & Transnational Institute (TNI), Info Letter, Amsterdam, August 2003, p. 7.