Annual Report 2010 - Enel.com

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Company name Registered office Country Activity Share capital Currency Held by % holding Energías Especiales del Torre del Bierzo Spain Electricity generation from 1,635,000.00 EUR Enel Unión Fenosa Bierzo SA renewable resources Renovables SA Energías Especiales del Madrid Spain Electricity generation from 6,812,040.00 EUR Enel Unión Fenosa Noroeste SA renewable resources Renovables SA Energías Especiales Madrid Spain Electricity generation from 6,241,000.00 EUR Enel Unión Fenosa Montes Castellanos SL renewable resources Renovables SA Energías Especiales Valencia Spain Electricity generation from 60,000.00 EUR Enel Unión Fenosa Valencianas SL renewable resources Renovables SA Energías Renovables Madrid Spain Electricity generation from 1,305,000.00 EUR Enel Unión Fenosa Montes de San Sebastián SL renewable resources Renovables SA Energías Alternativas Las Palmas de Spain Electricity generation from 301,000.00 EUR Enel Green Power del Sur SL Gran Canaria renewable resources España SL (formerly Endesa Cogeneración y Renovables SA) Energías Especiales de Badajoz Spain Electricity generation 3,100.00 EUR Enel Unión Fenosa Gata SL Renovables SA Energías Especiales de Madrid Spain Electricity generation 3,100.00 EUR Enel Unión Fenosa Padul SL Renovables SA Energías Especiales Seville Spain Electricity generation 3,100.00 EUR Enel Unión Fenosa Montes de Andalucía SL Renovables SA Energías Especiales Badajoz Spain Electricity generation 3,100.00 EUR Enel Unión Fenosa Santa Barbara SL Renovables SA Enerlousado Lda Porto Portugal Combined-cycle 5,000.00 EUR Finerge - Gestao de generation plant Projectos Energéticos SA Ercasa Cogeneración SA Eufer - Caetano Energias Renovaveis Lda Eufer - Energias Especiais de Portugal Unipessoal Lda Eufer Operación SL (formerly Eufer Comercializadora SL) Eufer Renovables Ibéricas 2004 SA Explotaciones Eólicas de Aldehuelas SL Zaragoza Spain Cogeneration of electricity and heat Lapa (Lisbon) Portugal Electricity generation from renewable resources Lapa (Lisbon) Portugal Electricity generation from renewable resources Madrid Spain Electricity generation from renewable resources Madrid Spain Electricity generation from renewable resources Oviedo Spain Electricity generation from renewable resources Eólica del Cordal de Madrid Spain Electricity generation from Montouto SL renewable resources Eólica El Molar SL Fuente Alamo Spain Electricity generation from renewable resources Eólica Galaociasturiana La Coruña Spain Electricity generation from SA renewable resources Eólicas de La Patagonia Buenos Aires Argentina Electricity generation from SA renewable resources Eólicas de Tenerife AIE Santa Cruz de Tenerife Spain Electricity generation from renewable resources 320 Enel Annual Report 2010 Attachments TP - Sociedade Térmica Portuguesa SA 601,000.00 EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 5,010.00 EUR Eufer - Energias Especiais de Portugal Unipessoal Lda 5,000.00 EUR Enel Unión Fenosa Renovables SA 60,000.00 EUR Enel Unión Fenosa Renovables SA 15,653,000.00 EUR Enel Unión Fenosa Renovables SA 480,800.00 EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 160,000.00 EUR Enel Unión Fenosa Renovables SA 1,235,300.00 EUR Enel Unión Fenosa Renovables SA 64,999.00 EUR Enel Unión Fenosa Renovables SA 480,930.00 ARS Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 210,000.00 EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) Group % holding 50.00% 19.59% 100.00% 39.16% 100.00% 39.16% 100.00% 39.16% 100.00% 39.16% 50.00% 39.16% 100.00% 39.16% 100.00% 39.16% 100.00% 39.16% 100.00% 39.16% 50.00% 50.00% 58.75% 50.00% 39.16% 51.00% 19.97% 100.00% 39.16% 100.00% 39.16% 100.00% 39.16% 47.50% 37.20% 100.00% 39.16% 100.00% 39.16% 100.00% 39.16% 50.00% 39.16% 50.00% 39.16%
Company name Registered office Country Activity Share capital Currency Held by % holding Fábrica do Arco - Santo Tirso Portugal Electricity generation 500,000.00 EUR Finerge - Gestao de Recursos Energéticos Projectos Energéticos SA SA Gallega de Santiago de Spain Electricity generation from 1,803,000.00 EUR Enel Unión Fenosa Cogeneracion SA Compostela renewable resources Renovables SA Hidroribeira - Emp Paço de Arcos Portugal Electricity generation from 7,481.96 EUR Parque Eólico do Hidricos e Eólicos Lda renewable resources Moinho do Céu SA Hídricas de Viseu SA Viseu Portugal Hydroelectric plants 986,000.00 EUR TP - Sociedade Térmica Portuguesa SA Infraestructuras de Aldehuelas SA Parque Eólico de Belmonte SA Parque Eólico A Capelada AIE Parque Eólico Cabo Villano SL Soria Spain Construction, operation and maintenance of electrical stations Madrid Spain Electricity generation from renewable resources Santiago de Spain Electricity generation from Compostela renewable resources Madrid Spain Electricity generation from renewable resources Parque Eólico Corullón Madrid Spain Electricity generation from SL renewable resources Parque Eólico de La Coruña Spain Electricity generation from Barbanza SA renewable resources Parque Eólico de Malpica SA Parque Eólico de Padul SA Parque Eólico de San Andrés SA Parque Eólico do Moinho do Céu SA Parque Eólico Espina SA Parque Eólico Montes de Las Navas SA La Coruña Spain Electricity generation from renewable resources Madrid Spain Electricity generation from renewable resources La Coruña Spain Electricity generation from renewable resources Porto Portugal Electricity generation from renewable resources Madrid Spain Electricity generation from renewable resources Madrid Spain Wind plant construction and operation Parque Eólico Serra da Porto Portugal Electricity generation from Capucha SA renewable resources Parque Eólico Sierra del Cáceres Spain Electricity generation from Merengue SL renewable resources Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 425,000.00 EUR Explotaciones Eólicas de Aldehuelas SL Group % holding 50.00% 39.16% 40.00% 15.66% 100.00% 39.16% 67.00% 33.00% 52.09% 60.82% 22.63% 120,400.00 EUR Barbao SA 50.16% 19.65% 5,857,586.40 EUR Enel Unión Fenosa Renovables SA Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 6,625,792.44 EUR Enel Unión Fenosa Renovables SA 60,000.00 EUR Enel Unión Fenosa Renovables SA 3,606,000.00 EUR Enel Unión Fenosa Renovables SA Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 950,000.00 EUR Enel Unión Fenosa Renovables SA 240,000.00 EUR Enel Unión Fenosa Renovables SA 552,920.00 EUR Enel Unión Fenosa Renovables SA 50,000.00 EUR TP - Sociedade Térmica Portuguesa SA 3,200.00 EUR Parque Eólico de Padul SA 6,540,000.00 EUR Enel Unión Fenosa Renovables SA Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 50,000.00 EUR TP - Sociedade Térmica Portuguesa SA Finerge - Gestao de Projectos Energéticos SA 30,000.00 EUR Enel Unión Fenosa Renovables SA 50.00% 50.00% 58.75% 100.00% 39.16% 100.00% 39.16% 11.60% 63.43% 54.23% 35.42% 13.87% 100.00% 39.16% 82.00% 32.12% 100.00% 39.16% 100.00% 39.16% 20.00% 55.50% 50.00% 50.00% 51.30% 58.75% 50.00% 19.59% 321
Page 1:
Annual Report 2010
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Contents Enel Annual Report 2010 Re
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Report on operations
Page 9 and 10:
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
Page 35 and 36:
inventories at their highest level
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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
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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
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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
Page 63 and 64:
leading to a final 2010 system cost
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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
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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
Page 101 and 102:
an increase of €971 million in th
Page 103 and 104:
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
Page 131 and 132:
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
Page 166 and 167:
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
Page 194 and 195:
Information on the Consolidated Bal
Page 196 and 197:
subsequently sold in December 2010;
Page 198 and 199:
expected future cash flows and appl
Page 200 and 201:
18. Equity investments accounted fo
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Equity investments in other compani
Page 204 and 205:
20. Other non-current assets - €1
Page 206 and 207:
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 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: 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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