Annual Report 2010 - Enel.com

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Table 3: Other provisions of the Self-regulation Code Delegation system and transactions with related parties Has the Board of Directors delegated powers and established: X a) their limits X b) how they are to be exercised X c) and how often it is to be informed? X Has the Board of Directors reserved the power to examine and approve beforehand transactions having a significant impact on the Company’s strategy, balance sheet, income statement, or cash flow X (including transactions with related parties)? Has the Board of Directors established guidelines and criteria for identifying “significant” transactions? X Are the aforesaid guidelines and criteria described in the report? X Has the Board of Directors established special procedures for the examination and approval of transactions with related parties? X Are the procedures for approving transactions with related parties described in the report? X YES NO Procedures of the most recent election of the Board of Directors and the Board of Statutory Auditors Were the candidacies for the office of Director filed at least 10 days (*) beforehand? X Were the candidacies for the office of Director accompanied by exhaustive information on the personal and professional characteristics of the candidates? X Were the candidacies for the office of Director accompanied by a statement that the candidates qualify as independent? X Were the candidacies for the office of Statutory Auditor filed at least 10 days (*) beforehand? X Were the candidacies for the office of Statutory Auditor accompanied by exhaustive information on the personal and professional characteristics of the candidates? X Shareholders’ Meetings Has the Company approved regulations for Shareholders’ Meetings? X Are the regulations attached to the report (or is it stated where they can be obtained/downloaded)? X 284 Enel Annual Report 2010 Corporate governance Summary of the reasons for any deviation from the recommendations of the Code (*) It should be noted that in the 2006 edition of the Self-regulation Code the recommended deadline for filing slates of candidates for the offices of director and statutory auditor was increased from 10 to 15 days. The deadline of 10 days was applicable to the Company under the provisions of the regulations regarding privatizations (Article 4, Law n. 474 of July 30, 1994) with effect until the meetings whose notice was published within October 31, 2010. For the meetings whose notice is published after October 31, 2010, the Unified Financial Act (as amended by Legislative Decree 27 of January 27, 2010) provides that the slates must be filed at the Company’s registered office at least 25 days before the date set for the Shareholders’ Meeting convened to resolve upon the appointment of the members of the Board of Directors or of the Board of Statutory Auditors and must be published by the Company at least 21 days before the date set for the same Meeting.
Internal control Has the Company appointed the person in charge of internal control? X Is the person in charge hierarchically independent of the heads of operating areas? X YES NO Summary of the reasons for any deviation from the recommendations of the Code Organizational position of the person in charge of internal control Head of the Company’s Internal Audit Department Investor relations Has the Company appointed a head of investor relations? X Organizational unit of the head of investor relations and related Relations with institutional investors: contact information Investor Relations Viale Regina Margherita, 137 - 00198 Rome, Italy tel. ++39 06/83057975 - fax ++39 06/83053771 e-mail: investor.relations@enel.com Relations with retail shareholders: Department of Corporate Affairs Viale Regina Margherita, 137 - 00198 Rome, Italy tel. ++39 06/83054000 - fax ++39 06/83055028 e-mail: azionisti.retail@enel.com 285
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Annual Report 2010
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Contents Enel Annual Report 2010 Re
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Report on operations
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Iberia and Latin America Endesa Int
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operates in the end-user market for
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Powers Board of Directors The Board
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The contribution of the operating D
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The Spanish market saw a turnaround
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30.8% of its shares are listed on t
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of 21.4%). More specifically, the p
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Millions of euro Operating assets O
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21 10 January Acquisition of Padoma
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19 April €10 billion revolving li
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1 July Sale of power transmission n
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11 10 November Enel and Kepco sign
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of industrial economies (such as Ge
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inventories at their highest level
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Italy The electricity market Domest
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gradually increasing use, as from 2
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information on customers who have f
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Following the hearing of February 1
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With Resolution ARG/elt no. 211/10,
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Gas transport and metering rates Wi
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With Resolution VIS no. 162/10, the
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Developments in prices in the main
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lished on January 26, 2011, the Min
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On July 2, 2010, the CNC had undert
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ANEEL resolution also provides for
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daily wholesale market. Specificall
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the ARENH price will be set with a
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leading to a final 2010 system cost
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electricity from hydroelectric plan
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National renewable energy action pl
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were held in 2010. Plants with a to
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USA Carbon regulation On May 12, 20
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cial receivables in respect of the
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The performance and balance sheet f
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Costs Millions of euro 2010 2009 re
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Analysis of the Group’s financial
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Sundry provisions, totaling €17,2
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in long-term financial receivables
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eceivable in respect of the sale to
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(1) (2) 2009 results restated Milli
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1 Sales The Sales Division is respo
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the free market, which benefited fr
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Revenues for 2010 totaled €17,540
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of the International Division, rela
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Capital expenditure Millions of eur
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Net efficient generation capacity M
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an increase of €971 million in th
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Contribution to gross thermal gener
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The table below shows performance b
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Operations Net electricity generati
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prior-year items recognized in 2009
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Services and Other Activities The p
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its generation mix towards the use
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Country risk By now, some 50% of th
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Sustainability
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Sustainability in Enel Providing su
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Sustainability reporting Since 2002
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which is needed in order to rationa
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project, which resulted in hiring a
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The Nine Points project was one of
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well as in light of the recent reca
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sustainability by following the Blu
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tainability and governance help bus
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mapping of production sites located
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Zero-emission thermal power generat
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developing low-cost distributed pow
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Electric mobility The “Electric M
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Reconciliation of shareholders’ e
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Consolidated Income Statement Milli
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Consolidated Balance Sheet Millions
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Statement of Changes in Consolidate
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Consolidated Statement of Cash Flow
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2 Accounting policies and measureme
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esposibilities, and their close rel
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and completed before that date are
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Investment property Investment prop
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Financial liabilities Financial lia
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For more information on the estimat
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incorporating the guidelines contai
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classified as equity if (and only i
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Millions of euro LIABILITIES AND SH
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are conducted within the framework
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Expected cash flows from interest r
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The following table reports the cas
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Millions of euro -10% Scenario +10%
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disposal, on September 23, 2009, of
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Segment information for 2010 and 20
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The following table reconciles segm
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The table below gives a breakdown o
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9.c Personnel - €4,907 million Mi
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Net income/(charges) from commodity
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Financial expense Millions of euro
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Information on the Consolidated Bal
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subsequently sold in December 2010;
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expected future cash flows and appl
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18. Equity investments accounted fo
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Equity investments in other compani
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20. Other non-current assets - €1
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addition to direct reimbursement) b
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Assets held for sale 27. Assets hel
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Non-current liabilities 29. Long-te
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issue of bonds for retail investors
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Current portion of long-term loans
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failure to make payment, breach of
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Millions of euro Pension benefits O
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31. Provisions for risks and charge
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Commodity derivatives mainly relate
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36. Current financial liabilities -
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Liabilities held for sale 38. Liabi
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40. Contractual commitments and gua
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Developments in the inquiries of th
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provisionally enforceable, held the
Page 234 and 235: creditor rights in respect of CELF
Page 236 and 237: 43. Stock incentive plans Between 2
Page 238 and 239: of the dividend (for 2004) of €0.
Page 240 and 241: that of a specific benchmark index
Page 242 and 243: Compensation of Directors, members
Page 245 and 246: Corporate governance
Page 247 and 248: Major shareholdings and shareholder
Page 249 and 250: prescribed by the Unified Financial
Page 251 and 252: C) The revolving credit facility ag
Page 253 and 254: structure, internal auditing system
Page 255 and 256: listed companies), distinctly menti
Page 257 and 258: University, in Syracuse, New York (
Page 259 and 260: The Directors perform their duties
Page 261 and 262: letter b) above, have assets exceed
Page 263 and 264: sufficient to ensure that their jud
Page 265 and 266: compensation of the Chief Executive
Page 267 and 268: the power - which may also be exerc
Page 269 and 270: Conte is concerned, the Board of St
Page 271 and 272: in December 2006, the Board of Dire
Page 273 and 274: “independent” monitoring, entru
Page 275 and 276: conditions, and those whose conside
Page 277 and 278: of the Company’s website (www.ene
Page 279 and 280: Ethics consists of: > general princ
Page 281 and 282: “Zero Tolerance of Corruption”
Page 283: In principle, unless there are spec
Page 288 and 289: Declaration of the Chief Executive
Page 291 and 292: Attachments
Page 293 and 294: Subsidiaries consolidated on a line
Page 295 and 296: Company name Registered office Coun
Page 315 and 316: Company name International Endesa B
Page 317 and 318: Enel SpA companies consolidated on
Page 319 and 320: Company name Companhia Térmica Rib
Page 323 and 324: Endesa SA companies consolidated on
Page 325 and 326: Associated companies accounted for
Page 331 and 332: Company name P.N. Endesa SA Central
Page 333 and 334: Other significant equity investment
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Reports
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Concept design Inarea - Rome Publis
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Annual Report 2010 - Enel.com

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