Annual Report 2010 - Enel.com

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Company name Registered office Country Activity Share capital Currency Held by % holding Tecnatom SA Madrid Spain Electricity generation and services Termoeléctrica José de Buenos Aires Argentina Construction and San Martín SA operation of combinedcycle generation plant Termoeléctrica Manuel Buenos Aires Argentina Construction and Belgrano SA operation of combinedcycle generation plant Transportista Regional Medina de Gas SA del Campo (Valladolid) 332 Enel Annual Report 2010 Attachments Group % holding 4,025,700.00 EUR Endesa Generación SA 45.00% 41.43% 500,000.00 ARS Central Dock Sud SA Hidroeléctrica El Chocón SA Endesa Costanera SA 500,000.00 ARS Endesa Costanera SA Central Dock Sud SA Spain Natural gas transport 5,748,260.00 EUR Hidroeléctrica El Chocón SA Nubia 2000 SL Endesa Gas Transportista SLU Yacylec SA Capital Federal Argentina Electricity transmission 20,000,000.00 ARS Endesa Latinoamerica SA Company name 5.32% 15.35% 5.51% 5.51% 5.32% 15.35% 50.00% 50.00% Registered office Country Activity Share capital Currency Held by % holding P.N. Artic Russia SeverEnergia (formerly Moscow Russian Enineftegaz) Federation Gas and oli processing and transport 55,114,150,000.00 RUB Artic Russia BV (formerly Eni Russia Bv) 6.61% 6.61% 18.42% 22.22% 20.46% Group % holding 49.00% 19.60%
Other significant equity investments at December 31, 2010 Company name Registered office Country Activity Share capital Currency Held by % holding Group % holding Agrupación Acefhat Barcelona Spain Design and services 793,340.00 EUR Endesa Distribución 16.67% 15.35% AIE Eléctrica SL Diseño de Sistemas en silicio SA Valencia Spain Photovoltaic plants 578,000.00 EUR Endesa Servicios SL 14.39% 13.25% Empresa Propietaria de Panama Panama Electricity transmission and 58,500,000.00 USD Endesa Latinoamerica 11.11% 10.23% La Red SA distribution SA Energotel AS Bratislava Slovakia Management of fiber optic 2,191,200.00 EUR Slovenské elektrárne 16.67% 11.00% network AS Euskaltel SA Derio (Vizcaya) Spain IT services 325,200,000.00 EUR Endesa SA 10.26% 9.45% Fibrel AIE Girona Spain Cogeneration of electricity 550,000.00 EUR Enel Green Power 10.00% 7.83% and heat España SL (formerly Endesa Cogeneración y Renovables SA) Galsi SpA Milan Italy Engineering in energy and infrastructure sector 37,242,300.00 EUR Enel Produzione SpA 15.61% 15.61% Groberel AIE Girona Spain Hydroelectric plants - EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 12.00% 9.40% Hisane AIE Tarragona Spain Cogeneration of electricity 1,200.00 EUR Enel Green Power 10.00% 7.83% and heat España SL (formerly Endesa Cogeneración y Renovables SA) International Multimedia University Srl Rome Italy Distance training 24,000.00 EUR Enel Servizi Srl 13.04% 13.04% Inversiones Eólicas La San José Costa Rica Electricity generation from 100,000.00 CRC Enel de Costa Rica SA 51.00% 35.28% Esperanza SA renewable resources Medgaz SA Madrid Spain Development and design 28,500,000.00 EUR Endesa Generación SA 12.00% 11.05% Minicentrales del Canal Zaragoza Spain Hydroelectric plants 1,202,000.00 EUR Enel Green Power 15.00% 11.75% de Las Bárdenas AIE España SL (formerly Endesa Cogeneración y Renovables SA) Miranda Plataforma Miranda de Spain Regional development 1,200,000.00 EUR Nuclenor SA 33.00% 15.19% Logística SA Ebro (Burgos) Silicio Energía SA Campanillas Spain Silicon extraction 69,000,000.00 EUR Enel Green Power 17.00% 13.32% (Málaga) España SL (formerly Endesa Cogeneración y Renovables SA) Smart P@Per SpA Potenza Italy Services 2,184,000.00 EUR Enel Servizio Elettrico SpA 10.00% 10.00% Sociedad de Fomento Industrial de Extremadura S A Tractament I Revalorització de Residus del Maresme SA Badajoz Spain Regional development 155,453,460.00 EUR Endesa SA 0.42% 0.39% Barcelona Spain Waste treatment and disposal 60,600.00 EUR Enel Green Power España SL (formerly Endesa Cogeneración y Renovables SA) 10.00% 7.83% 333
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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
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the power - which may also be exerc
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Conte is concerned, the Board of St
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in December 2006, the Board of Dire
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“independent” monitoring, entru
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conditions, and those whose conside
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of the Company’s website (www.ene
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Ethics consists of: > general princ
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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 331: Company name P.N. Endesa SA Central
Page 337 and 338: Reports
Page 342: Concept design Inarea - Rome Publis
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