Annual Report 2010 - Enel.com

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Enel Green Power SpA companies consolidated on a proportionate basis at December 31, 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 318 Enel Annual Report 2010 Attachments Group % holding 1,000,000,000.00 EUR Enel SpA 69.17% 69.17% Subsidiaries 3Sun Srl Agrate Brianza Italy Development, design, 180,030,000.00 EUR Enel Green Power SpA 33.33% 23.05% (MB) construction and operation of plants manufacturing solar panels Altomonte Fv Srl Lamezia Terme Italy Electricity generation from 10,000.00 EUR Enel Green Power & 100.00% 34.59% renewable resources Sharp Solar Energy Srl Andaluza de Energía Seville Spain Electricity generation from 3,006.00 EUR Energías Especiales de 76.00% 25.30% Solar Cuarta SL renewable resources Andalucía SL Andaluza de Energía Seville Spain Electricity generation from 3,006.00 EUR Energías Especiales de 76.00% 25.30% Solar Primera SL renewable resources Andalucía SL Andaluza de Energía Seville Spain Electricity generation from 3,006.00 EUR Energías Especiales de 75.00% 24.97% Solar Quinta SL renewable resources Andalucía SL Andaluza de Energía Seville Spain Electricity generation from 3,006.00 EUR Energías Especiales de 75.00% 24.97% Solar Tercera SL renewable resources Andalucía SL Aprovechamientos Madrid Spain Electricity generation from 420,705.40 EUR Enel Unión Fenosa 100.00% 39.16% Eléctricos SA renewable resources Renovables SA Aridos Energías Villalbilla Spain Electricity generation from 600,000.00 EUR Enel Unión Fenosa 41.05% 16.08% Especiales SL renewable resources Renovables SA Atelgen - Produção de Barcelos Portugal Electricity generation - EUR TP - Sociedade 51.00% 19.97% Energia ACE Térmica Portuguesa SA Azucarera Energías SA Madrid Spain Electricity generation from 570,600.00 EUR Enel Unión Fenosa 40.00% 15.66% renewable resources Renovables SA Barbao SA Madrid Spain Electricity generation from 284,878.74 EUR Enel Unión Fenosa 100.00% 39.16% renewable resources Renovables SA Boiro Energía SA Boiro Spain Electricity generation from 601,010.00 EUR Enel Unión Fenosa 40.00% 15.66% renewable resources Renovables SA Campos - Recursos Barroselas Portugal Electricity generation - EUR TP - Sociedade 95.00% 37.20% Energéticos ACE Térmica Portuguesa SA Cogeneracion del Santiago de Spain Electricity generation from 3,606,000.00 EUR Enel Unión Fenosa 40.00% 15.66% Noroeste SL Compostela renewable resources Renovables SA Colina - Produção de Lisbon Portugal Electricity generation 5,486.78 EUR Parque Eólico do 90.00% 39.17% Energia Eléctrica Lda Moinho do Céu SA Companhia Térmica do Lisbon Portugal Electricity generation - EUR Pp - Co-Geração SA TP - Sociedade Beato ACE Térmica Portuguesa SA Companhia Térmica do Paços de Portugal Electricity generation - EUR TP - Sociedade Serrado ACE Brandão Térmica Portuguesa SA Companhia Térmica Alcochete Portugal Electricity generation - EUR TP - Sociedade Hectare ACE Térmica Portuguesa SA Companhia Térmica Barreiro Portugal Electricity generation - EUR TP - Sociedade Lusol ACE Térmica Portuguesa SA Companhia Térmica Oliveira Ferreira ACE Companhia Térmica Ponte da Pedra ACE Riba de Ave Portugal Electricity generation - EUR TP - Sociedade Térmica Portuguesa SA Maia Portugal Electricity generation - EUR TP - Sociedade Térmica Portuguesa SA 10.00% 65.00% 25.46% 51.00% 19.97% 60.00% 23.50% 95.00% 37.20% 95.00% 37.20% 95.00% 37.20%
Company name Companhia Térmica Ribeira Velha ACE Registered office Country Activity Share capital Currency Held by % holding S. Paio de Oleiros Portugal Electricity generation - EUR Pp - Co-Geração SA Group % holding TP - Sociedade Térmica Portuguesa SA 51.00% Companhia Térmica Algés Portugal Electricity generation 5,000.00 EUR TP - Sociedade 95.00% 37.20% Tagol Lda Térmica Portuguesa SA Concentrasolar SL Seville Spain Photovoltaic plants 10,000.00 EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 50.00% 39.16% Depuracion Destilacion Boiro Spain Electricity generation from 600,000.00 EUR Enel Unión Fenosa 40.00% 15.66% Reciclaje SL renewable resources Renovables SA Empreendimentos Porto Portugal Electricity generation from 50,000.00 EUR TP - Sociedade 52.38% 20.51% Eólicos da Serra do renewable resources Térmica Portuguesa Sicó SA SA Empreendimientos Vila Nova de Portugal Electricity generation from 50,000.00 EUR Eevm - 84.99% 24.97% Eólicos Cerveirenses SA Cerveira renewable resources Empreendimentos Eólicos Vale do Minho SA Empreendimientos Caminha Portugal Electricity generation from 50,000.00 EUR Eevm - 100.00% 29.37% Eólicos da Espiga Sa renewable resources Empreendimentos Eólicos Vale do Minho SA Enel Green Power & Rome Italy Development, design, 10,000.00 EUR Enel Green Power SpA 50.00% 34.59% Sharp Solar Energy Srl construction and operation of photovoltaic plants Enel Unión Fenosa Madrid Spain Electricity generation from 32,505,000.00 EUR Enel Green Power 50.00% 39.16% Renovables SA renewable resources España SL (formerly Endesa Cogeneración y Renovables SA) Enercor - Produção de Montijo Portugal Electricity generation - EUR TP - Sociedade 70.00% 27.42% Energia ACE Térmica Portuguesa SA Energía Termosolar de Zaragoza Spain Electricity generation from 400,000.00 EUR Enel Unión Fenosa 80.00% 31.33% Los Monegros SL renewable resources Renovables SA Energías Ambientales de Somozas SA Energías Ambientales Easa SA La Coruña Spain Electricity generation from renewable resources La Coruña Spain Electricity generation from renewable resources Energías Ambientales Madrid Spain Electricity generation from Novo SA renewable resources Energías Ambientales Madrid Spain Electricity generation from de Vimianzo SA renewable resources Energías Especiales Madrid Spain Electricity generation from Alcoholeras SA renewable resources Energías Especiales de Seville Spain Electricity generation from Andalucía SL renewable resources Energías Especiales de La Coruña Spain Electricity generation from Careon SA renewable resources Energías Especiales de Badajoz Spain Electricity generation from Extremadura SL renewable resources Energías Especiales de Madrid Spain Electricity generation from Pena Armada SA renewable resources Energías Especiales del Madrid Spain Electricity generation from Alto Ulla SA renewable resources 1,250,000.00 EUR Enel Unión Fenosa Renovables SA Energías Ambientales Easa SA 15,491,460.00 EUR Enel Unión Fenosa Renovables SA 1,480,000.00 EUR Energías Ambientales Easa SA 5,240,000.00 EUR Energías Ambientales Easa SA 232,002.00 EUR Enel Unión Fenosa Renovables SA 800,000.00 EUR Eufer Renovables Ibéricas 2004 SA 270,450.00 EUR Enel Unión Fenosa Renovables SA 106,000.00 EUR Enel Unión Fenosa Renovables SA 963,300.00 EUR Enel Unión Fenosa Renovables SA 1,722,600.00 EUR Enel Unión Fenosa Renovables SA 49.00% 19.40% 77.60% 39.16% 17.73% 33.34% 13.06% 99.99% 13.06% 99.99% 13.06% 82.33% 32.24% 85.00% 33.29% 77.00% 30.16% 78.33% 30.67% 80.00% 31.33% 100.00% 39.16% 319
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
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letter b) above, have assets exceed
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sufficient to ensure that their jud
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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 315 and 316: Company name International Endesa B
Page 317: Enel SpA companies consolidated on
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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