Annual Report 2010 - Enel.com

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Subsidiaries, associates and other significant equity investments of the Enel Group at December 31, 2010 In compliance with CONSOB Notice no. DEM/6064293 of July 28, 2006 and Article 126 of CONSOB Resolution no. 11971 of May 14, 1999, a list of subsidiaries and associates of Enel SpA at December 31, 2010, pursuant to Article 2359 of the Italian Civil Code, and of other significant equity investments is provided below. Enel has full title to all investments. The following information is included for each company: name, registered office, activity, share capital, currency of account, Group companies that have a stake in the company and their respective ownership share, and the Group’s ownership share. 292 Enel Annual Report 2010 Attachments
Subsidiaries consolidated on a line-by-line basis at December 31, 2010 (1) Company name Registered office Country Activity Share capital Currency Held by % holding Parent company Enel SpA Rome Italy Holding company 9,403,357,795.00 EUR Group % holding Subsidiaries Concert Srl Rome Italy Product, plant and equipment certification 10,000.00 EUR Enel Produzione SpA 51.00% 51.00% Deval SpA Aosta Italy Electricity distribution and sales 37,500,000.00 EUR Enel SpA 51.00% 51.00% Endesa SA Madrid Spain Holding company 1,270,502,540.40 EUR Enel Energy Europe SL 92.06% 92.06% Enel Albania Shpk Tirana Albania Construction, operation 73,230,000.00 ALL Enel Investment 100.00% 100.00% and maintenance of plants. Electricity generation and trading Holding BV Enel Distributie Banat Timisoara Romania Electricity distribution 382,158,580.00 RON Enel Investment 51.00% 51.00% SA Holding BV Enel Distributie Costanza Romania Electricity distribution 280,285,560.00 RON Enel Investment 51.00% 51.00% Dobrogea SA Holding BV Enel Distributie Bucharest Romania Electricity distribution 271,635,250.00 RON Enel Investment 64.43% 64.43% Muntenia SA (formerly Electrica Muntenia Sud SA) Holding BV Enel Distribuzione SpA Rome Italy Electricity distribution 2,600,000,000.00 EUR Enel SpA 100.00% 100.00% Enel Energia SpA Rome Italy Electricity and gas sales 302,039.00 EUR Enel SpA 100.00% 100.00% Enel Energie Muntenia Bucharest Romania Electricity sales 37,004,350.00 RON Enel Investment 64.43% 64.43% SA (formerly Electrica Furnizare Muntenia Sud SA) Holding BV Enel Energie SA Bucharest Romania Electricity sales 140,000,000.00 RON Enel Investment Holding BV 51.00% 51.00% Enel Energy Europe SL Madrid Spain Holding company 500,000,000.00 EUR Enel SpA 100.00% 100.00% Enel Esn Energo LLC Saint Petersburg Russian Operation and 2,700,000.00 RUB Enel Esn Management 100.00% 75.00% Federation maintenance of generation plants BV Enel Esn Management BV Amsterdam Netherlands Holding company 18,000.00 EUR Enel Produzione SpA 75.00% 75.00% Enel Finance International NV Amsterdam Netherlands Holding company 1,478,810,370.00 EUR Enel SpA 100.00% 100.00% Enel France Sas Paris France Holding company 34,937,000.00 EUR Enel Investment Holding BV 100.00% 100.00% Enel Green Power SpA Rome Italy Electricity generation from renewable resources 1,000,000,000.00 EUR Enel SpA 69.17% 69.17% Enel Ingegneria e Rome Italy Analysis, design, 30,000,000.00 EUR Enel SpA 100.00% 100.00% Innovazione SpA construction and maintenance of engineering works Enel Investment Holding BV Amsterdam Netherlands Holding company 1,593,050,000.00 EUR Enel SpA 100.00% 100.00% Enel Lease Eurl Lyon France Electricity generation from 500,000.00 EUR Enel France Sas 100.00% 100.00% (formerly Société du Parc Eolien Grandes Terres Est Eurl) renewable resources Enel Longanesi Rome Italy Prospecting and 10,000,000.00 EUR Enel Trade SpA 100.00% 100.00% Developments Srl exploitation of hydrocarbon fields Enel M@P Srl Rome Italy Metering, remote 100,000.00 EUR Enel Distribuzione control and connectivity services via power line communication SpA Enel Maritza East 3 AD Sofia Bulgaria Electricity generation 265,943,600.00 BGN Maritza East III Power Holding BV Enel OGK5-5 OJSC Ekaterinburg Russian Electricity generation 35,371,898,370.00 RUB Enel Investment (formerly OGK-5 OJSC) Federation Holding BV Enel Operations Marchienne Au Belgium Operation and 200,000.00 EUR Enel Investment Belgium SA Pont maintenance of generation plants Holding BV 100.00% 100.00% 73.00% 73.00% 56.43% 56.43% 100.00% 100.00% 293
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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
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creditor rights in respect of CELF
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43. Stock incentive plans Between 2
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of the dividend (for 2004) of €0.
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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 and 284: In principle, unless there are spec
Page 285: Internal control Has the Company ap
Page 288 and 289: Declaration of the Chief Executive
Page 291: Attachments
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
Page 337 and 338: Reports
Page 342:
Concept design Inarea - Rome Publis
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