Annual Report 2010 - Enel.com

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Company name Registered office Country Activity Share capital Currency Held by % holding 294 Enel Annual Report 2010 Attachments Group % holding Enel Operations Galabovo Bulgaria Operation and 50,000.00 BGN Maritza O&M Holding 73.00% 73.00% Bulgaria AD maintenance of generation plants Netherlands BV Enel Productie Srl Bucharest Romania Electricity generation 19,910,200.00 RON Enel Investment 100.00% 100.00% (formerly Global Power Investment Srl) Holding BV Enel Produzione SpA Rome Italy Electricity generation 1,800,000,000.00 EUR Enel SpA 100.00% 100.00% Enel Romania Srl Judetul Ilfov Romania Business services 200,000.00 RON Enel Investment 100.00% 100.00% (formerly Enel Servicii Srl) Holding BV Enel Rus LLC Moscow Russian Energy services 350,000.00 RUB Enel Investment 100.00% 100.00% Federation Holding BV Enel Service Uk Ltd London United Kingdom Energy services 100.00 GBP Enel Trade SpA 100.00% 100.00% Enel Servicii Comune Bucharest Romania Energy services 33,000,000.00 RON Enel Distributie Banat 50.00% 51.00% SA SA Enel Distributie Dobrogea SA 50.00% Enel Services Srl Rome Italy Personnel administration activities, information technology and business services 50,000,000.00 EUR Enel SpA 100.00% 100.00% Enel Servizio Elettrico SpA Rome Italy Electricity sales 10,000,000.00 EUR Enel SpA 100.00% 100.00% Enel Sole Srl Rome Italy Public lighting systems 4,600,000.00 EUR Enel SpA 100.00% 100.00% Enel Trade Hungary Kft Budapest Hungary Electricity sourcing and trading 184,650.00 EUR Enel Trade SpA 100.00% 100.00% Enel Trade Romania Srl Bucharest Romania Electricity sourcing and trading 74,250,200.00 RON Enel Trade SpA 100.00% 100.00% Enel Trade SpA Rome Italy Fuel trading and logistics. Electricity sales 90,885,000.00 EUR Enel SpA 100.00% 100.00% Enel.Factor SpA Rome Italy Factoring 12,500,000.00 EUR Enel SpA 100.00% 100.00% Enel.NewHydro Srl Rome Italy Engineering and water systems 1,000,000.00 EUR Enel SpA 100.00% 100.00% Enel.Re Ltd Dublin Ireland Reinsurance 3,000,000.00 EUR Enel Investment Holding BV 100.00% 100.00% Enelco SA Athens Greece Construction, operation 36,961,629.00 EUR Enel Investment 75.00% 75.00% and maintenance of plants Holding BV Enelpower Contractor Riyadh Saudi Arabia Construction, operation 5,000,000.00 SAR Enelpower SpA 51.00% 51.00% and Development Saudi Arabia Ltd and maintenance of plants Enelpower SpA Milan Italy Engineering and construction 2,000,000.00 EUR Enel SpA 100.00% 100.00% Enelpower Uk Ltd London United Kingdom Electrical engineering 1,000.00 GBP Enelpower SpA 100.00% 100.00% Hydro Dolomiti Enel Srl Trento Italy Electricity generation and sales Hydrogen Park- Venice Italy Development of studies Marghera Per and projects for the use of L’idrogeno Scrl hydrogen Linea Albania-Italy Tirana Albania Construction, maintenance Shpk and operation of merchant lines Marcinelle Energie SA Charleroi Belgium Electricity generation, transport, sale and trading Maritza East III Power Holding BV Maritza O&M Holding Netherlands BV 3,000,000.00 EUR Enel Produzione SpA 49.00% 49.00% 245,000.00 EUR Enel Produzione SpA 55.10% 55.10% 27,460,000.00 ALL Enel Investment Holding BV 107,000,000.00 EUR Enel Investment Holding BV Amsterdam Netherlands Holding company 100,000,000.00 EUR Enel Investment Holding BV Amsterdam Netherlands Holding company 40,000.00 EUR Enel Investment Holding BV 100.00% 100.00% 80.00% 80.00% 100.00% 100.00% 100.00% 100.00%
Company name Registered office Country Activity Share capital Currency Held by % holding Group % holding Nuove Energie Srl Porto Italy Construction and 4,100,000.00 EUR Enel Trade SpA 90.00% 90.00% Empedocle management of LNG regasification infrastructure OGK-5 Finance LLC Moscow Russian Finance 10,000,000.00 RUB Enel OGK5-5 OJSC 100.00% 56.43% Federation (formerly OGK-5 OJSC) Ochrana A Bezpecnost Mochovce Slovakia Security services 33,193.92 EUR Slovenské elektrárne 100.00% 66.00% Se AS AS Pragma Energy SA Lugano Svizzera Coal trading 4,000,000.00 CHF Enel Investment Holding BV 100.00% 100.00% Prof-Energo LLC Sredneuralsk Russian Energy services 10,000.00 RUB Sanatorium- 100.00% 56.43% Federation Preventorium Energetik OJSC Sanatorium- Nevinnomyssk Russian Energy services 10,571,300.00 RUB Enel OGK5-5 OJSC 99.99% 56.43% Preventorium Federation (formerly OGK-5 Energetik OJSC OJSC) OGK-5 Finance LLC 0.01% Se Hydropower Srl Bolzano Italy Electricity generation, purchases and sales 30,000,000.00 EUR Enel Produzione SpA 40.00% 40.00% Se Predaj Sro Bratislava Slovakia Electricity supply 4,505,000.00 EUR Slovenské elektrárne AS 100.00% 66.00% Slovenské elektrárne AS Bratislava Slovakia Electricity generation 1,269,295,724.66 EUR Enel Produzione SpA 66.00% 66.00% Slovenské elektrárne Rotterdam Netherlands Finance 18,200.00 EUR Slovenské elektrárne 100.00% 66.00% Finance BV AS Société du Parc Eolien Lyon France Electricity generation from 1,000.00 EUR Enel France Sas 100.00% 100.00% Grandes Terres Ouest Eurl renewable resources Teploprogress OJSC Sredneuralsk Russian Federation Electricity sales 128,000,000.00 RUB OGK-5 Finance LLC 60.00% 33.86% Vallenergie SpA Aosta Italy Electricity sales 1,700,000.00 EUR Enel SpA 51.00% 51.00% Water & INDUSTRIAL Services Company SpA Monza Italy Sewage treatment 15,615,000.00 EUR Enel.NewHydro Srl 100.00% 100.00% (1) The companies held by Enel Green Power SpA and Endesa SA consolidated on a line-by-line basis are listed separately. 295
Page 1:
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
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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 and 292: Attachments
Page 293: Subsidiaries consolidated on a line
Page 297 and 298: 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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