Annual Report 2010 - Enel.com

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Enel Green Power SpA companies consolidated on a full, line-by-line basis at December 31, (1) (2) 2010 Company name Registered office Country Activity Share capital Currency Held by % holding Parent company Enel Green Power SpA Rome Italy Electricity generation from renewable resources Subsidiaries (Cataldo) Hydro Power New York (New USA Electricity generation from Associates York) renewable resources Agassiz Beach LLC Minneapolis (Minnesota) USA Electricity generation from renewable resources 296 Enel Annual Report 2010 Attachments Group % holding 1,000,000,000.00 EUR Enel SpA 69.17% 69.17% - USD Hydro Development Group Inc. Chi Black River Inc. - USD Chi Minnesota Wind LLC Aguilon 20 SA Zaragoza Spain Electricity generation from 1,693,060.00 EUR Enel Green Power renewable resources España SL (formerly Endesa Cogeneración y Renovables SA) Aioliko Voskero SA Heraklion Greece Construction and 955,600.00 EUR Enel Green Power (Crete) operation of plants for the generation of electricity from renewable resources Hellas SA Almussafes Servicios Valencia Spain Operation and 3,010.00 EUR Enel Green Power Energéticos SL maintenance of generation España SL (formerly plants Endesa Cogeneración y Renovables SA) Alvorada Energia SA Rio de Janeiro Brazil Electricity generation and 17,117,415.92 BRL Enel Brasil sale Participações Ltda Apiacàs Energia SA Rio de Janeiro Brazil Electricity generation 21,216,846.33 BRL Enel Brasil Participações Ltda Aquenergy Systems Greenville USA Electricity generation from 10,500.00 USD Consolidated Hydro Inc. (South Carolina) renewable resources Southeast Inc. Argyri Energiaki SA Athens Greece Electricity generation from 3,200,000.00 EUR Enel Green Power renewable resources Hellas SA Asoleo SL Madrid Spain Wind plants 800,000.00 EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) Asotin Hydro Company Wilmington USA Electricity generation from 100.00 USD Enel North America Inc. (Delaware) renewable resources Inc. Autumn Hills LLC Minneapolis USA Electricity generation from - USD Chi Minnesota Wind (Minnesota) renewable resources LLC Aziscohos Hydro Wilmington USA Holding company 100.00 USD Enel North America Company Inc. (Delaware) Inc. Barnet Hydro Company Burlington USA Electricity generation from - USD Sweetwater (Vermont) renewable resources Hydroelectric Inc. Beaver Falls Water Philadelphia USA Holding company - USD Beaver Valley Power Company (Pennsylvania) Holdings Ltd Beaver Valley Holdings Philadelphia USA Holding company 2.00 USD Hydro Development Ltd (Pennsylvania) Group Inc. Beaver Valley Power Philadelphia USA Electricity generation from 30.00 USD Hydro Development Company (Pennsylvania) renewable resources Group Inc. Biowatt - Recursos Porto Portugal Marketing of projects for 5,000.00 EUR Finerge - Gestao de Energéticos Lda electricity generation from Projectos Energéticos renewable resources SA Black River Hydro Assoc New York (New USA Electricity generation from - USD (Cataldo) Hydro York) renewable resources Power Associates Blue Energy Srl Tulcea Romania Electricity generation from 1,000.00 RON Enel Green Power renewable resources International BV Enel Green Power Romania Srl (formerly Blu Line Impex Srl) 50.00% 69.18% 50.00% 49.00% 33.89% 51.00% 39.95% 100.00% 69.17% 100.00% 78.32% 100.00% 69.17% 100.00% 69.17% 100.00% 69.17% 100.00% 69.17% 50.01% 39.18% 100.00% 69.17% 49.00% 33.89% 100.00% 69.17% 100.00% 69.17% 67.50% 46.69% 100.00% 69.17% 100.00% 69.17% 51.00% 39.95% 75.00% 51.88% 1.00% 99.00% 69.17%
Company name Registered office Country Activity Share capital Currency Held by % holding Boott Field LLC Wilmington USA Holding company - USD Boott Hydropower (Delaware) Inc. Boott Hydropower Inc. Boston USA Electricity generation from - USD Boott Sheldon (Massachusetts) renewable resources Holdings LLC Boott Sheldon Wilmington USA Holding company - USD Hydro Finance Holdings LLC (Delaware) Holding Company Inc. Bp Hydro Associates Boise (Idaho) USA Electricity generation from renewable resources - USD Chi Magic Valley Inc. Bp Hydro Finance Partnership Salt Lake City (Utah) USA Holding company - USD Chi Idaho Inc. Bp Hydro Associates Group % holding 100.00% 69.17% 100.00% 69.17% 100.00% 69.17% Fulcrum Inc. 24.08% Bypass Limited Boise (Idaho) USA Electricity generation from renewable resources - USD El Dorado Hydro 100.00% 69.17% Bypass Power Los Angeles USA Holding company - USD Chi West Inc. 100.00% 69.17% Company (California) Canastota Wind Power Wilmington USA Electricity generation from - USD Essex Company 100.00% 69.17% LLC (Delaware) renewable resources Carvemagere - Barcelos Portugal Cogeneration of electricity 84,700.00 EUR Finerge - Gestao de 65.00% 50.92% Manutençao e Energias and heat Projectos Energéticos Renováveis Lda SA Castle Rock Ridge Wilmington USA Holding company 100.00 USD Enel Alberta Wind Inc. 100.00% 69.17% Limited Partnership (Delaware) Chi Acquisitions II Inc. Wilmington (Delaware) USA Holding company 100.00 USD Chi Finance LLC 100.00% 69.17% Chi Acquisitions Inc. Wilmington USA Electricity generation from 100.00 USD Enel North America 100.00% 69.17% (Delaware) renewable resources Inc. Chi Black River Inc. Wilmington USA Electricity generation from 100.00 USD Chi Finance LLC 100.00% 69.17% (Delaware) renewable resources Chi Dexter Inc. Wilmington USA Electricity generation from 100.00 USD Chi Finance LLC 100.00% 69.17% (Delaware) renewable resources Chi Finance LLC Wilmington USA Holding company - USD Enel North America 100.00% 69.17% (Delaware) Inc. Chi Highfalls Inc. Wilmington USA Electricity generation from - USD Chi Finance LLC 100.00% 69.17% (Delaware) renewable resources Chi Hydroelectric St. John Canada Electricity generation from 6,834,448.00 CAD Enel Green Power 100.00% 69.17% Company Inc. (Newfoundland) renewable resources Canada Inc. Chi Idaho Inc. Wilmington USA Electricity generation from 100.00 USD Chi Acquisitions Inc. 100.00% 69.17% (Delaware) renewable resources Chi Magic Valley Inc. Wilmington USA Electricity generation from 100.00 USD Chi Acquisitions Inc. 100.00% 69.17% (Delaware) renewable resources Chi Minnesota Wind Wilmington USA Electricity generation from - USD Chi Finance LLC 100.00% 69.17% LLC (Delaware) renewable resources Chi Mountain States Wilmington USA Holding company 100.00 USD Chi Acquisitions Inc. 100.00% 69.17% Operations Inc. (Delaware) Chi Operations Inc. Wilmington USA Holding company 100.00 USD Enel North America 100.00% 69.17% (Delaware) Inc. Chi Power Inc. Wilmington USA Holding company 100.00 USD Enel North America 100.00% 69.17% (Delaware) Inc. Chi Power Marketing Wilmington USA Holding company 100.00 USD Enel North America 100.00% 69.17% Inc. (Delaware) Inc. Chi S F LP Montreal Canada Electricity generation from - CAD Chi Hydroelectric 100.00% 69.17% (Quebec) renewable resources Company Inc. Chi Universal Inc. Wilmington USA Holding company 100.00 USD Enel North America 100.00% 69.17% (Delaware) Inc. Chi West Inc. Wilmington USA Electricity generation from 100.00 USD Chi Acquisitions Inc. 100.00% 69.17% (Delaware) renewable resources Chi Western Wilmington USA Holding company 100.00 USD Chi Acquisitions Inc. 100.00% 69.17% Operations Inc. (Delaware) Coneross Power Greenville USA Electricity generation from 110,000.00 USD Aquenergy Systems 100.00% 69.17% Corporation Inc. (South Carolina) renewable resources Inc. Conexión Energética San Salvador El Salvador Electricity generation from 7,950,600.00 SVC Grupo Egi SA de Cv 40.86% 69.17% Centroamericana El renewable resources Salvador SA de Cv Enel Latin America BV 59.14% Consolidated Hydro Wilmington USA Holding company 100.00 USD Chi Acquisitions Inc. 100.00% 69.17% Mountain States Inc. (Delaware) 32.00% 68.00% 75.92% 69.17% 69.17% 297
Page 1:
Annual Report 2010
Page 4 and 5:
Contents Enel Annual Report 2010 Re
Page 7 and 8:
Report on operations
Page 9 and 10:
Iberia and Latin America Endesa Int
Page 11 and 12:
operates in the end-user market for
Page 13 and 14:
Powers Board of Directors The Board
Page 15 and 16:
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
Page 21 and 22:
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
Page 27 and 28:
19 April €10 billion revolving li
Page 29 and 30:
1 July Sale of power transmission n
Page 31 and 32:
11 10 November Enel and Kepco sign
Page 33 and 34:
of industrial economies (such as Ge
Page 35 and 36:
inventories at their highest level
Page 37 and 38:
Italy The electricity market Domest
Page 39 and 40:
gradually increasing use, as from 2
Page 41 and 42:
information on customers who have f
Page 43 and 44:
Following the hearing of February 1
Page 45 and 46:
With Resolution ARG/elt no. 211/10,
Page 47 and 48:
Gas transport and metering rates Wi
Page 49 and 50:
With Resolution VIS no. 162/10, the
Page 51 and 52:
Developments in prices in the main
Page 53 and 54:
lished on January 26, 2011, the Min
Page 55 and 56:
On July 2, 2010, the CNC had undert
Page 57 and 58:
ANEEL resolution also provides for
Page 59 and 60:
daily wholesale market. Specificall
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the ARENH price will be set with a
Page 63 and 64:
leading to a final 2010 system cost
Page 65 and 66:
electricity from hydroelectric plan
Page 67 and 68:
National renewable energy action pl
Page 69 and 70:
were held in 2010. Plants with a to
Page 71 and 72:
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
Page 99 and 100:
Net efficient generation capacity M
Page 101 and 102:
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
Page 133 and 134:
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
Page 141 and 142:
Electric mobility The “Electric M
Page 143:
Reconciliation of shareholders’ e
Page 146 and 147:
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
Page 232 and 233:
provisionally enforceable, held the
Page 234 and 235:
creditor rights in respect of CELF
Page 236 and 237:
43. Stock incentive plans Between 2
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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 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 and 294: Subsidiaries consolidated on a line
Page 295: Company name Registered office Coun
Page 299 and 300: 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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