Annual Report 2010 - Enel.com

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Company name Registered office Country Activity Share capital Currency Held by % holding Emgesa SA ESP Bogotá D.C. Colombia Electricity generation and sale Empresa Carbonífera del Sur SA Empresa de Distribución Eléctrica de Lima Norte SAA 312 Enel Annual Report 2010 Attachments 655,222,310,000.00 COP Empresa Nacional de Electricidad SA 26.88% Group % holding 28.88% Endesa Latinoamerica SA 21.60% Madrid Spain Mining 18,030,000.00 EUR Endesa Generación SA 100.00% 92.06% Lima Peru Electricity distribution and sales 638,560,000.00 PEN Inversiones Distrilima SA Empresa de Ingeniería Santiago Chile Engineering services 2,600,176,000.00 CLP Enersis SA Empresa Nacional de Ingendesa SA Electricidad SA Empresa Distribuidora Capital Federal Argentina Electricity distribution and Sur SA sales Endesa Inversiones Generales SA 898,590,000.00 ARS Chilectra SA Endesa Latinoamerica SA Enersis SA 51.68% 24.00% 98.75% Distrilec Inversora SA 56.36% Empresa Eléctrica Cabo Lima Peru Holding company 46,508,170.00 PEN Endesa Latinoamerica 80.00% 73.65% Blanco SA SA Empresa Eléctrica de Santiago Chile Electricity generation, 82,222,000.00 CLP Chilectra SA 100.00% 55.30% Colina Ltda transmission and distribution Empresa Eléctrica de Piura SA Lima Peru Electricity generation 73,982,594.00 PEN Generalima SA 36.50% 77.79% Empresa Eléctrica Pangue SA Santiago Chile Electricity generation, transmission and distribution Empresa Eléctrica Cabo Blanco SA 91,041,497,037.00 CLP Empresa Nacional de Electricidad SA Endesa Inversiones Generales SA Endesa Latinoamerica SA 5.01% Empresa Eléctrica Santiago Chile Electricity generation, 200,319,020,730.00 CLP Empresa Nacional de 92.65% 31.01% Pehuenche SA transmission and distribution Electricidad SA Empresa Nacional de Santiago Chile Electricity generation, 1,331,714,090,000.00 CLP Enersis SA 59.98% 33.47% Electricidad SA transmission and distribution En-Brasil Comercio e Serviços SA Rio de Janeiro Brazil Electricity 10,000.00 BRL Endesa Brasil SA 99.99% 54.98% Endesa Argentina SA Capital Federal Argentina Holding company 514,530,000.00 ARS Empresa Nacional de Electricidad SA 99.66% 33.47% Endesa Brasil SA Rio de Janeiro Brazil Holding company 916,880,000.00 BRL Endesa Inversiones Generales SA Endesa Latinoamerica SA Enersis SA Chilectra Inversud SA Chilectra SA Edegel SA Empresa Nacional de Electricidad SA 1.25% 20.85% 6.22% 16.02% 60.00% 94.98% 0.01% 0.34% 27.71% 21.46% 4.23% 4.53% 4.07% 35.29% 48.68% 33.47% 42.22% 36.40% 54.99%
Company name Registered office Country Activity Share capital Currency Held by % holding Group % holding Endesa Capital Finance Wilmington USA Finance 100.00 USD International Endesa 100.00% 92.06% LLC (Delaware) BV Endesa Capital SA Madrid Spain Finance 60,200.00 EUR Endesa SA 100.00% 92.06% Endesa Carbono SL Madrid Spain Sales of emission rights 17,200.00 EUR Endesa SA 82.50% 75.95% Endesa Carbono Usa LLC Virginia USA Electricity sales 20,000.00 USD Endesa Carbono SL 100.00% 75.95% Endesa Cemsa SA Capital Federal Argentina Electricity sales 14,010,014.00 ARS Endesa Argentina SA 45.00% 65.69% Endesa Porto Portugal Electricity generation and Comercializaçao de Energia SA sale Endesa Costanera SA Capital Federal Argentina Electricity generation and sale Endesa Latinoamerica SA 55.00% 250,000.00 EUR Endesa Energía SA 100.00% 92.06% 146,990,000.00 ARS Empresa Nacional de Electricidad SA Southern Cone Power Argentina SA Endesa Argentina SA Endesa Desarrollo SL Madrid Spain Holding company 3,010.00 EUR Endesa SA 100.00% 92.06% Endesa Distribución Eléctrica SL Barcelona Spain Electricity distribution 1,204,540,060.00 EUR Endesa Red SA 100.00% 92.06% Endesa Eco SA Santiago Chile Studies and projects in the 681,850,000.00 CLP Empresa Nacional de 99.99% 33.47% renewable resources field Electricidad SA Endesa Inversiones Generales SA 0.01% Endesa Energía SA Madrid Spain Marketing of energy products 12,981,860.00 EUR Endesa SA 100.00% 92.06% Endesa Energía XXI SL Madrid Spain Electricity marketing and services 2,000,000.00 EUR Endesa Energía SA 100.00% 92.06% Endesa Financiación Filiales SA Madrid Spain Finance 4,621,003,000.00 EUR Endesa SA 100.00% 92.06% Endesa Gas SAU Zaragoza Spain Gas production, transmission and distribution 45,261,350.00 EUR Endesa Red SA 100.00% 92.06% Endesa Generación II SA Seville Spain Electricity generation 63,107.00 EUR Endesa SA 100.00% 92.06% Endesa Generación Paço de Arcos- Portugal Electricity generation 50,000.00 EUR Endesa Generación SA 99.20% 91.95% Portugal SA Oieiras Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) Energías de Aragón II SL Finerge - Gestao de Projectos Energéticos SA Endesa Energía SA 0.20% Endesa Generación SA Seville Spain Electricity generation and sale 1,945,329,830.00 EUR Endesa SA 100.00% 92.06% Endesa Ingeniería SLU Seville Spain Engineering and consulting services 1,000,000.00 EUR Endesa Red SA 100.00% 92.06% Endesa Inversiones Santiago Chile Holding company 3,055,837,927.00 CLP Empresa Eléctrica 0.49% 33.46% Generales SA Pehuenche SA Empresa Nacional de Electricidad SA 12.33% 5.50% 51.93% 0.20% 0.20% 0.20% 99.51% 23.35% 313
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
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Corporate governance
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Major shareholdings and shareholder
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prescribed by the Unified Financial
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C) The revolving credit facility ag
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structure, internal auditing system
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listed companies), distinctly menti
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University, in Syracuse, New York (
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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 and 296: Company name Registered office Coun
Page 311: 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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