Enel SpA (NYSE:EN)
Industry: Utilities
Enel S.p.A. (Enel), incorporated in July 1992, is an electricity operator in Italy. The Company is engaged in the generation, distribution and sale of electricity. Enel is also engaged in the import, distribution and sale of natural gas. As of December 31, 2005, the Company had net installed capacity in Italy of approximately 42.2 gigawatts. During the year ended December 31, 2005, its net electricity production in Italy was 112.1 terawatt hours. During 2005, the Company distributed 259.3 terawatt hours of electricity and sold 148.2 terawatt hours of electricity to end users in Italy. During 2005, Enel operated through business divisions, which included Generation and Energy Management; Sales, Infrastructure and Networks; Transmission; Telecommunications, and Services and Other Activities. The Company discontinued the operations of its Telecommunications Division and Transmission Division in 2005. During 2005, Enel reorganized its business segments into Generation and Energy Management Division, Market Division, Infrastructure and Networks Division, and International Division. Such reorganization is effective from January 1, 2006. Generation and Energy Management The Generation and Energy Management Division is responsible for the Company's operations related to the production of electricity, and the procurement and trading of fuel for electricity generation. Until 2005, it also included Enel's power generation activities in Italy and abroad. Effective January 1, 2006, its international operations were allocated to the International Division. The Company's key subsidiaries in this division include Enel Produzione S.p.A. (Enel Produzione), which is Enel's primary generating company, and Enel Trade S.p.A. (Enel Trade), which purchases fuel for all of the Company's generating operations, sells electricity to resellers and wholesalers, sells natural gas to gas distribution companies, and is active in the fuel trading sector. Enel Trade also carries out commodity risk management activities on behalf of the Company and its subsidiaries. Until May 31, 2005, the Generation and Energy Management Division also included Enel Green Power, which specialized in producing electricity from renewable resources; Enel Logistica Combustibili S.r.l., active in the fuel logistics sector, and Conphoebus S.r.l., which provided renewable energy-related services. The Company merged these companies into Enel Produzione as of June 1, 2005. This division also carries out research and development activities. In January 2006, this division assumed charge of the engineering, procurement and construction (EPC) activities, which were previously carried out by the Service and Other Activities Division. As of December 31, 2005, Enel Produzione operated a total of 599 generating plants. The Company's Italian generating facilities include thermal plants, hydroelectric plants, geothermal plants and other facilities that generate electricity from renewable resources. As of December 31, 2005, these plants had a total net installed capacity of 42.2 gigawatts. The net electricity production from these plants totaled 112.1 terawatt hours in 2005. As of December 31, 2005, the Company owned 46 thermal plants in Italy, with an aggregate net installed capacity of 26.9 gigawatts. Its thermal net production was 81,823 gigawatt hours in 2005. As of December 31, 2005, Enel had 500 hydroelectric plants in Italy, with an aggregate net installed capacity of 14.4 gigawatts. In 2005, the Company's hydroelectric net production was 24,883 gigawatt hours. The Company produces energy from renewable resources. As of December 31, 2005, it had 32 geothermal power plants with an aggregate net installed capacity of 671 megawatts. In 2005, its geothermal net production was 5,012 gigawatt hours. Enel also generates electricity from other forms of renewable resources, including solar photovoltaic systems and wind energy. At December 31, 2005, it operated 17 wind farms with an aggregate net installed capacity of about 277 megawatts, and four photovoltaic solar grid connected p
As Of: 10/07 00:00 ET
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