Annual Report 2010 - Enel.com

essentially owing to an increase in the volume of electricity
sold, and €1,114 million for increased grants for
extra-peninsular generation. In addition to the increase
associated with Endesa, developments in revenues
from the sale of electricity abroad are essentially attributable
to the increase of €239 million in revenues
posted by the Latin American companies of the Renewable
Energy Division, which was associated with the
rise in quantities sold against a background of rising
prices, to the increase of €602 million in revenues from
operations in Russia (Enel OGK-5 and RusEnergoSbyt),
as well as the rise of €148 million in revenues in France
and south-eastern Europe, essentially due to higher
volumes sold;
> a reduction of €1,581 million in revenues from the sale
and transport of electricity in Italy on the free market
and the enhanced protection market, essentially due to
the decline in quantities sold and in average sales prices.
This was partially offset by the increase of €1,430
million in revenues in respect of the sale and transport
of electricity to other resellers;
> a decline of €1,040 million in revenues from sales on
the Power Exchange and the Ancillary Services Market
as a result of the fall in average sales prices and quantities
sold. These factors were only partially offset by increased
revenues from sales to the Single Buyer (€662
million) under bilateral contracts entered into by the
generating companies in Italy;
> a €162 million decrease in revenues from wholesale
business.
Revenues from gas sold and transported to end users
were up €578 million or 19.3% compared with the previous
year. The increase reflects the change in the method
used to consolidate Endesa (€178 million) and increased
revenues on the Italian (€105 million) and Spanish (€295
million) markets, essentially due to the increase in average
sales prices and quantities sold compared with the previous
year, which had been affected by a decline in consumption
due to the slowdown in the economy.
76 Enel Annual Report 2010 Report on operations
Gains on the disposal of assets amounted to €127 million
in 2010 and essentially regard the gain on the disposal
of the Spanish high-voltage power grids (€55 million),
the gain on the sale of 80% of Nubia 2000, which holds
the gas distribution assets in Spain (€15 million), and other
minor disposals in Italy.
In 2009, the item amounted to €363 million and included
the gain on the sale of 100% of Enel Linee Alta Tensione
(ELAT) on April 1, 2009 (€295 million) and the gain on the
sale of SeverEnergia (€68 million).
Other services, sales and revenues came to €5,631 mil-
lion in 2010 (€4,718 million for 2009), an increase of €913
million or 19.4% year on year. The increase was essentially
the net result of the following factors:
> a €135 million increase in sales of fuel for trading, essentially
due to increased sales on the Iberian and Latin
American markets and to the change in the method
used to consolidate Endesa;
> an increase in revenues with regard to connection fees,
of which €221 million due to the application of IFRIC 18
as from July 1, 2009;
> a €620 million increase in revenues from the sale of
goods, mainly attributable to increased sales of photovoltaic
panels (€148 million) and of CERs and EUAs
(€507 million), the effect of which was partially offset
by a decrease in sales of green certificates (€120 million);
> a €191 million increase in other revenues due to the
change in the method used to consolidate Endesa;
> a €250 million decrease in engineering and construction
work with non-Group customers and the termination
in December 2009 of reimbursements from the
Electricity Equalization Fund for stranded costs in respect
of Nigerian gas (€145 million).