Annual Report 2010 - Enel.com

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Company name Registered Office Country Activity Share capital Currency Held by % holding Parc Eòlic Els Aligars SL Barcelona Spain Electricity generation from 1,313,100.00 EUR Enel Green Power renewable resources España SL (formerly Endesa Cogeneración y Renovables SA) Parc Eòlic La Tossa-La Barcelona Spain Electricity generation from 1,183,100.00 EUR Enel Green Power Mola d’en Pascual SL renewable resources España SL (formerly Endesa Cogeneración y Renovables SA) Powercer - Sociedade Loures Portugal Cogeneration of electricity 50,000.00 EUR Finerge - Gestao de de Cogeraçao de and heat Projectos Energéticos Vialonga SA SA Productora de Energías Barcelona Spain Hydroelectric plants 30,050.00 EUR Enel Green Power SA España SL (formerly Endesa Cogeneración y Renovables SA) Puignerel AIE Barcelona Spain Cogeneration of electricity 11,299,000.00 EUR Enel Green Power and heat España SL (formerly Endesa Cogeneración y Renovables SA) Rofeica d’Energía SA Barcelona Spain Cogeneration of electricity 1,983,300.00 EUR Enel Green Power and heat España SL (formerly Endesa Cogeneración y Renovables SA) Santo Rostro Seville Spain Cogeneration of electricity 207,000.00 EUR Enel Green Power Cogeneración SA and heat España SL (formerly Endesa Cogeneración y Renovables SA) 328 Enel Annual Report 2010 Attachments Group % holding 30.00% 23.50% 30.00% 23.50% 30.00% 23.50% 30.00% 23.50% 25.00% 19.59% 27.00% 21.15% 45.00% 35.25% Sati Cogeneración AIE Barcelona Spain Cogeneration of electricity 66,000.00 EUR Enel Green Power 27.50% 21.54% and heat España SL (formerly Endesa Cogeneración y Renovables SA) Serra do Moncoso La Coruña Spain Electricity generation from 3,125.00 EUR Eólicos Touriñán SA 49.04% 38.41% Cambas SL renewable resources Sistemas Energéticos Zaragoza Spain Electricity generation from 3,065,100.00 EUR Enel Green Power 30.00% 23.50% La Muela SA renewable resources España SL (formerly Endesa Cogeneración y Renovables SA) Sistemas Energéticos Zaragoza Spain Electricity generation from 1,503,410.00 EUR Enel Green Power 27.00% 21.15% Más Garullo SA renewable resources España SL (formerly Endesa Cogeneración y Renovables SA) Sociedad Eólica de Seville Spain Electricity generation 4,507,580.00 EUR Enel Green Power 46.67% 36.56% Andalucía SA España SL (formerly Endesa Cogeneración y Renovables SA) Sotavento Galicia SA Santiago de Spain Electricity generation from 601,000.00 EUR Enel Unión Fenosa 18.00% 7.05% Compostela renewable resources Renovables SA Star Lake Hydro St. John Canada Electricity generation from - CAD Chi Hydroelectric 49.00% 33.89% Partnership (Newfoundland) renewable resources Company Inc. Termotec Energía AIE Valencia Spain Cogeneration of electricity 481,000.00 EUR Enel Green Power 45.00% 35.25% and heat España SL (formerly Endesa Cogeneración y Renovables SA) Thracian Eolian 1 SA Maroussi Greece Electricity generation from 124,000.00 EUR Enel Green Power 30.00% 20.75% renewable resources Hellas SA Thracian Eolian 2 SA Maroussi Greece Electricity generation from 124,000.00 EUR Enel Green Power 30.00% 20.75% renewable resources Hellas SA Thracian Eolian 3 SA Maroussi Greece Electricity generation from 124,000.00 EUR Enel Green Power 30.00% 20.75% renewable resources Hellas SA Thracian Eolian 4 SA Maroussi Greece Electricity generation from 124,000.00 EUR Enel Green Power 30.00% 20.75% renewable resources Hellas SA Thracian Eolian 5 SA Maroussi Greece Electricity generation from 124,000.00 EUR Enel Green Power 30.00% 20.75% renewable resources Hellas SA Thracian Eolian 6 SA Maroussi Greece Electricity generation from 124,000.00 EUR Enel Green Power 30.00% 20.75% renewable resources Hellas SA Thracian Eolian 7 SA Maroussi Greece Electricity generation from 124,000.00 EUR Enel Green Power 30.00% 20.75% renewable resources Hellas SA
Company name Registered office Country Activity Share capital Currency Held by % holding Thracian Eolian 8 SA Maroussi Greece Electricity generation from renewable resources Thracian Eolian 9 SA Maroussi Greece Electricity generation from renewable resources Tirmadrid SA Valdemingómez Spain Electricity generation from renewable resources Tirme SA Palma de Spain Waste treatment and Mallorca disposal Trade Wind Energy LLC Topeka (Kansas) USA Electricity generation from renewable resources Urgell Energía SA Lleida Spain Cogeneration of electricity and heat Wind Parks of Anatoli- Maroussi Greece Electricity generation from Prinia SA renewable resources Wind Parks of Bolibas Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Maroussi Greece Electricity generation from Distomos SA renewable resources Wind Parks of Maroussi Greece Electricity generation from Drimonakia SA renewable resources Wind Parks of Folia SA Maroussi Greece Electricity generation from renewable resources Wind Parks of Gagari Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Goraki Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Gourles Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Maroussi Greece Electricity generation from Grammatikaki SA renewable resources Wind Parks of Kafoutsi Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Kathara Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Kerasia Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Maroussi Greece Electricity generation from Korfovouni SA renewable resources Wind Parks of Maroussi Greece Electricity generation from Makriakkoma SA renewable resources Wind Parks of Maroussi Greece Electricity generation from Megavouni SA renewable resources Wind Parks of Milia SA Maroussi Greece Electricity generation from renewable resources Wind Parks of Mirovigli Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Mitika Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Organi Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Maroussi Greece Electricity generation from Paliopirgos SA renewable resources Wind Parks of Pelagia Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Petalo Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Platanos Maroussi Greece Electricity generation from SA renewable resources Wind Parks of Politis SA Maroussi Greece Electricity generation from renewable resources Wind Parks of Sagias Maroussi Greece Electricity generation from SA renewable resources Group % holding 124,000.00 EUR Enel Green Power Hellas SA 30.00% 20.75% 124,000.00 EUR Enel Green Power Hellas SA 30.00% 20.75% 16,828,000.00 EUR Enel Unión Fenosa Renovables SA 18.64% 7.30% 7,662,750.00 EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 40.00% 31.33% - USD Enel Kansas LLC 45.00% 31.13% 601,000.00 EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 225,500.00 EUR Enel Green Power Hellas SA 171,500.00 EUR Enel Green Power Hellas SA 176,500.00 EUR Enel Green Power Hellas SA 329,000.00 EUR Enel Green Power Hellas SA 144,000.00 EUR Enel Green Power Hellas SA 134,000.00 EUR Enel Green Power Hellas SA 171,500.00 EUR Enel Green Power Hellas SA 175,000.00 EUR Enel Green Power Hellas SA 165,000.00 EUR Enel Green Power Hellas SA 171,500.00 EUR Enel Green Power Hellas SA 296,500.00 EUR Enel Green Power Hellas SA 252,000.00 EUR Enel Green Power Hellas SA 201,500.00 EUR Enel Green Power Hellas SA 254,000.00 EUR Enel Green Power Hellas SA 208,000.00 EUR Enel Green Power Hellas SA 399,000.00 EUR Enel Green Power Hellas SA 95,000.00 EUR Enel Green Power Hellas SA 255,500.00 EUR Enel Green Power Hellas SA 287,000.00 EUR Enel Green Power Hellas SA 200,000.00 EUR Enel Green Power Hellas SA 193,500.00 EUR Enel Green Power Hellas SA 175,000.00 EUR Enel Green Power Hellas SA 179,000.00 EUR Enel Green Power Hellas SA 136,000.00 EUR Enel Green Power Hellas SA 271,000.00 EUR Enel Green Power Hellas SA 27.00% 21.15% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 30.00% 20.75% 329
Page 1:
Annual Report 2010
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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
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The contribution of the operating D
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The Spanish market saw a turnaround
Page 19 and 20:
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
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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
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
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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,
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Gas transport and metering rates Wi
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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
Page 75 and 76:
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
Page 103 and 104:
Contribution to gross thermal gener
Page 105 and 106:
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
Page 115 and 116:
Country risk By now, some 50% of th
Page 117 and 118:
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
Page 125 and 126:
project, which resulted in hiring a
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The Nine Points project was one of
Page 129 and 130:
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
Page 137 and 138:
Zero-emission thermal power generat
Page 139 and 140:
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
Page 148 and 149:
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
Page 156 and 157:
esposibilities, and their close rel
Page 158 and 159:
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
Page 168 and 169:
classified as equity if (and only i
Page 170 and 171:
Millions of euro LIABILITIES AND SH
Page 172 and 173:
are conducted within the framework
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Expected cash flows from interest r
Page 176 and 177:
The following table reports the cas
Page 178 and 179:
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
Page 186 and 187:
The table below gives a breakdown o
Page 188 and 189:
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
Page 202 and 203:
Equity investments in other compani
Page 204 and 205:
20. Other non-current assets - €1
Page 206 and 207:
addition to direct reimbursement) b
Page 208 and 209:
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
Page 214 and 215:
Current portion of long-term loans
Page 216 and 217:
failure to make payment, breach of
Page 218 and 219:
Millions of euro Pension benefits O
Page 220 and 221:
31. Provisions for risks and charge
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Commodity derivatives mainly relate
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36. Current financial liabilities -
Page 226 and 227:
Liabilities held for sale 38. Liabi
Page 228 and 229:
40. Contractual commitments and gua
Page 230 and 231:
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
Page 238 and 239:
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 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 327: Company name Registered office Coun
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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