Annexes To 2008 Results And 2009 2013 Business Plan

Enel SpA
Investor Relations

Annexes

• 2008 results annexes

• 2009-2013 plan annexes
– Generation & Energy Management - Italy

– Market - Italy

– Infrastructure & Network - Italy

– International

– Iberia & Latin America

– Enel Green Power

1

Enel SpA
2008 Results - Operational annexes Investor Relations

Generation mix - Italy

40,323 96,227
9,415
13,341
25,799

5,946

5,575 29,440
1,037
5,650
14,424
25,973

Capacity (MW) Production (GWh)

Other renewables Coal Oil & gas1
Hydro CCGT

2
1. Including turbogas

Enel SpA

Generation mix - Centrel & South Eastern Europe

22,527
Slovakia Greece
3,050

243

15,412

5,705 105
1,254
2,122
4,065
2,329

Capacity (MW) Production (GWh) Capacity (MW) Production (GWh)

3,720
Bulgaria

602


Other renewables Coal Oil & gas
3
Hydro Nuclear CCGT

Enel SpA

Generation mix –Russia, North America & France

22,496
1,869
Russia North America

12,282 905

8,183 749

4,560 435 964
10,214

3,623 314

Capacity (MW) Production (GWh) Capacity (MW) Production (GWh)

France

12

7


4
Hydro Nuclear CCGT

Enel SpA

Electricity and gas distribution

Electricity (TWh) Gas (bcm)
2.8% 7.7%

Volumes distributed: 31.7%
Breakdown by country 65.5% 92.3%1

Electricity (TWh) Gas (bcm)

3.3% 6.4%
Sales: 30.5%
Breakdown by country
39.6% 50.7%
69.5%

Russia Iberia&Latam
Italy SEE
5
1. Including assets held for sale

Enel SpA

Italian market overview - electricity1 and gas consumption2

Electricity consumption (TWh) Gas consumption (bcm)

-0.7% -0.1%

339.9 337.6 84.9 84.8
2.5 2.1
46.3 39.6

34.3 34.2

207.1 209.2

19.9 19.1

28.2 29.4
94.2 96.3

-7.7 -7.5
FY07 FY08
FY07 FY08
Import Other
Net production: other Thermoelectric
Net production: Enel Industrial
Pumped storage consumption Residential
1. Source: Terna electricity statistical data 6
2. Source: Ministry of Economic development and Enel’s estimates

Enel SpA

Italian market overview - electricity sales1

Regulated market (TWh) Free market2 (TWh) Enel’s free customers3 (thousand)

+11.3%

220.1 2,034
197.7
-20.9%
+39.1% 55.5
39.9 1,226
121.2 +4.3%
-20.3%
95.9
157.8 164.6
102.5
81.7
-24.1%
18.7 14.2
FY07 FY08
FY07 FY08 FY07 FY08
Enel
Other Total sales (TWh)
318.9 316.0

FY07 FY08
1. Excluding losses on the grid. Other operators’ data are Enel’s estimates based on Single Buyer figures
2. Including self-consumption and, since May 2008, sales to “salvaguardia” customers 7
3. Including dual energy customers

Enel SpA

Enel’s gas sales

Volumes sold (bcm) Customers (thousand)

+49.1% +11.8%

8.2 3,256
2,912
2.5 612
5.5 450

0.6

2,462 2,644
5.7
4.9

FY07 FY08 FY07 FY08

Italy
International

8

Enel SpA

FY2008 group installed capacity: breakdown by source and
location

MW Hydro RES Nuclear Coal CCGT Oil & gas TOTAL
- other ST/OCGT

Italy 14,424 1,037 - 5,575 5,946 13,341 40,323

Iberia 3,792 1,603 2,442 3,892 1,4731 3,524 16,726

Centrel 2,329 - 2,122 1,254 - - 5,705

SEE 5 1122 - 602 - - 719

Americas 6,757 471 - 360 2,628 1,447 11,663

Russia - - - 3,623 - 4,560 8,183

TOTAL 27,307 3,223 4,564 15,306 10,047 22,872 83,319

1. Including 82 MW of installed capacity in Morocco 9
2. Including 12 MW other renewable capacity in France

Enel SpA

FY2008 group net production: breakdown by source and location

TWh Hydro RES Nuclear Coal CCGT Oil & gas TOTAL
- other ST/OCGT

Italy 26.0 5.6 - 29.5 25.8 9.4 96.3

Iberia 6.0 2.8 17.5 20.0 10.11 5.5 61.9

Centrel 4.1 - 15.4 3.0 - - 22.5

SEE - 0.22 - 3.7 - - 3.9

Americas 28.3 1.0 - 1.5 8.3 7.0 46.1

Russia - - - 10.2 - 12.3 22.5

TOTAL 64.4 9.6 32.9 67.9 44.2 34.2 253.2

1. Including 0.6TWh of net production in Morocco 10
2. Including 7 GWh of net production in France

Enel SpA

Production mix
+2.2%

94.2 (TWh) 96.3 (TWh)

16.6% 9.8%
Group production mix 26.8%
24.6%
Domestic
+65.0% Domestic
30.3% 30.6%

6.0% 5.8%
153.5 (TWh) 253.2 (TWh) 27.0%
22.5%
11.9% 13.5%
FY07 FY08
18.0% 17.5%

29.5% 26.8% +164.6%

11.8% 13.0%
4.7% 3.8% 59.3 (TWh) 156.9 (TWh)
24.1% 25.4% 4.4%
7.6% 15.8%
28.2% 11.7%
FY07 FY08
International 24.4%
International
30.6%
21.0%
2.5% 2.6%
Hydro Nuclear CCGT 26.7% 24.5%

FY07 FY08
11

Enel SpA

CO2 emissions vs allowances

Domestic generation CO2 emissions (mton)

Allowances
Deficit/Surplus

FY 2007 40.8 6.0 46.8

FY 2008 41.3 3.2 44.5

12

Enel SpA

Enel’s electricity and gas distribution

Volumes distributed in Italy1 (TWh) Volumes distributed abroad (TWh)

-0.4% +213.2%

135.6

259.0 257.9
43.3

FY07 FY08 FY07 FY08

Volumes distributed (bcm)2 Gas end users (thousand)2

+4.3%
+8.3%
2,218 2,314
3.9 186 214
3.6
0.1 0.3

2,032 2,100
3.5 3.6
Italy
International
FY07 FY08 FY07 FY08
1. 2007 figures updated. Net of energy dispatched in previous years 13
2. Including held for sale

Enel SpA
2008 Results Investor Relations

EBITDA evolution - Market Italy (€mn)

+74.2%

+129 554

+107
318

FY07 Regulated Free FY08
market market

14

Enel SpA

EBITDA evolution - I&N Italy (€mn)

+5.0%

+134 -168 +145 3,719
3,543 +65

3,543 3,608 3,574 3,574

FY07 Energy Non recurring Service Other FY08
margin items quality
premium

15

Enel SpA

EBITDA evolution - International (€mn)

+36.3%

+60 1,044
+70
+144 +5 75
55
766
16 190

185
Centrel
SEE
Russia
France & Belgium
724
580

-15
-13 FY07 Centrel SEE France Russia FY08
& Belgium

16

Enel SpA

EBITDA evolution - Services & Holding1 (€mn)

-13.1%

+49 -57

61
53

FY07 Import Other FY08

1. Including Engineering and Innovation division
17

Enel SpA
2008 Results - Financial annexes Investor Relations

EBIT by business area (€mn)

+40.7%

9,541

981
S&H
EGP
6,781
Iberia & Latam 2,848
International 818
I&N
Market
884 556
G&EM 354

2,844
2,742
115
104
1,918 2,259

-39 -62
FY07 FY08

18

Enel SpA

Purchase Price Allocation of Endesa acquisition – impact on P&L

€mn FY08

Δ Depreciation and Amortization +653

Δ EBT -653

Δ Taxes +201

Δ Net income (including minorities) -452

Δ Minorities -121

Δ Group net income -331

19

Enel SpA

2007 results restatement

2007 Enel 2007
P&L (€mn) PPA
actual Rete Gas restated

Revenues 43,673 - 15 43,688

EBITDA 10,023 - -183 9,840

EBIT 6,990 -118 -91 6,781

Group net income 3,977 -61 - 3,916

2007 Enel 2007
Balance sheet (€mn) PPA
actual Rete Gas restated

Net capital employed 79,580 2,844 - 82,424

Net debt 55,791 - - 55,791

Equity 23,789 2,844 - 26,633

20

Enel SpA

Income taxes analysis

1,857
-290 2,152

585

2008 One-off impact Additional 2008
income of substitute taxes pro-forma
taxes taxes 08 08(1) income taxes

2008 normalized tax rate 33.7%

1. Higher taxes on current income for Italian generation and sales activities 21

Enel SpA

Balance sheet

€mn 2007 2008 %

Net financial debt 55,791 49,967 -10.4

Shareholders’ equity 26,633 26,295 -1.3

Net capital employed 82,424 76,262 -7.5

22

Enel SpA

Debt structure

• Average debt maturity: 4 years and 11 months

• Average cost of debt: 5.5%1

• (Fixed+hedged)/Total long-term debt: 56%

• (Fixed+hedged)/Total net debt: 58%

• Rating: S&P’s = A-/A-2 CW negative; Moody’s = A2/P-1 CW negative

€mn 2007 2008 %

Long-term 50,816 48,154 -5.2

Short-term2 8,014 8,577 +7.0

Cash3 -3,039 -6,764 +122.6

Net debt 55,791 49,967 -10.4

1. Including Endesa cost of debt equal to 6.5%
2. Including current maturities of long-term debt
3. Including factoring and other current receivables
23

Enel SpA

Enel’s group financial debt evolution as of December 31, 2008

Enel Group (excluding Endesa) Endesa – 67.05% Group - Total
€mn
12.31.2007 12.31.2008 12.31.2007 12.31.2008 12.31.2008
Bank loans – maturities > 12m 23,631 25,867 4,712 3,525 29,392
Bonds – maturities > 12m 16,946 16,604 5,419 3,644 20,248
Preferred shares > 12m - - 966 973 973
Other loans – maturities > 12m 95 158 386 274 432
Financial receivables – maturities > 12m -146 -373 -1,193 -2,518 -2,891

Total net LT debt - maturities > 12m 40,526 42,256 10,290 5,898 48,154

Bank loans – maturities < 12m 287 281 174 309 590
Bonds – maturities < 12m 1,139 431 894 1,933 2,364
Preferred shares < 12m - - - - -
Other loans – maturities < 12m 26 24 209 132 156
Financial receivables – maturities < 12m -966 -11 -436 -513 -524
Total net LT debt - maturities < 12m 486 725 841 1,861 2,586

Other ST bank debt 1,180 1,410 100 168 1,578
Commercial paper 2,350 2,425 1,543 1,367 3,792
Other ST financial debt 112 97 - - 97
ST debt 3,642 3,932 1,643 1,535 5,467

Factoring receivables -205 -367 - - -367
Other ST financial receivables -13 -402 -84 -292 -694
Cash at banks and marketable securities -625 -1,969 -710 -3,210 -5,179
Total net ST debt (incl. current maturities) 3,285 1,919 1,690 -106 1,813

Net financial debt 43,811 44,175 11,980 5,792 49,967

24

Enel SpA

Enel’s group financial debt by subsidiary as of December 31,
2008

€mn Enel SpA Endesa EFI EIH Slovenské EP ED Other Total

Bonds 13,498 5,577 2,656 522 193 - - 166 22,612

Bank loans 14,947 3,834 7,502 - 85 766 1,716 1,132 29,982

Preferred shares - 973 - - - - - - 973

Other loans (6) (2,625) - - - (8) (17) (171) (2,827)

Commercial paper - 1,367 2,425 - - - - - 3,792

Other 690 (3,334) (2) (153) (76) 1 (241) (1,450) (4,565)

Total 29,129 5,792 12,581 369 202 759 1,458 (323) 49,967

25

Enel SpA

Enel’s group financial debt

Average cost of debt Average residual maturity
5.2% 5.5%
4.7% 5.1% 7:7 7:7
4.4% 4.6%
4.4% 4.3% 6:4
5:10
5:2 4:11
4:9 4:4

2001 2002 2003 2004 2005 2006 2007 2008 2001 2002 2003 2004 2005 2006 2007 2008

Net financial debt (€bn) Fixed + Hedged/Total net debt

55.8
50.0 81.0% 80.0%

60.0%
53.0% 58.0%
24.5 24.2 42.0% 44.0% 47.0%
21.9 24.5
12.3 11.7

2001 2002 2003 2004 2005 2006 2007 2008 2001 2002 2003 2004 2005 2006 2007 2008

26

Enel SpA

Enel’s Group long-term maturity profile (€mn)

Endesa1
Enel
18,275
15,995
3,592
756

11,531
2,316

15,239 14,683

3,110 9,215 2,381
2,413
2,375 886 866
1,527 1,965
735
2009 2010 2011 2012 2013 After 2013

1. Relating to Endesa proportionally consolidated debt (67.05%) acccording to Enel’s GAAP 27

Enel SpA

Enel Group liquidity analysis excluding Endesa (€mn)

December 31, 2008
Amount Outstanding Available

36M credit facility for Endesa acquisition 10,866 10,866 -
60M credit facility for Endesa acquisition 7,828 7,828 -
Other committed credit lines1 8,375 4,850 3,525

Total committed credit lines 27,069 23,544 3,525

Other short-term bank debt – uncommitted lines 387 304 83

Total credit lines 27,456 23,848 3,608

Commercial paper issued by EFI SA 4,000 2,445 1,555
Total credit lines + CP 31,456 26,293 5,163
Cash and cash equivalents (1,969) 1,969

Total liquidity 31,456 24,324 7,132

1. Including 1,375€mn relating to a committed line pertaining to Slovenske Elektrarne
28

Enel SpA

Endesa liquidity analysis1 (€mn)

December 31, 2008
Amount Outstanding Available

Total committed credit lines 9,905 1,813 8,092

Other short-term bank debt – uncommitted lines 1,268 525 743

Total credit lines 11,173 2,338 8,835

Commercial paper issued by the Endesa Group 4,000 2,055 1,945
Total credit lines + CP 15,173 4,393 10,780
Cash and cash equivalents (4,787) 4,787

Total liquidity 15,173 (394) 15,567

1. Relating to Endesa 100% 29

Enel SpA

Generation & Energy Management - Italy

€mn FY07 FY07 pro-forma FY08 %

Revenues 18,207 17,062 22,143 29.8

EBITDA 3,541 2,743 3,113 13.5

EBIT 2,600 1,918 2,259 17.8

Capex 1,167 900 887 -1.4

Headcount 9,306 6,931 6,829 -1.5

30

Enel SpA
2008 Results- Financial annexes Investor Relations

Market - Italy


Revenues 22,271 22,179 22,609 1.9

EBITDA 325 318 554 74.2

EBIT 109 104 115 10.6

Capex 59 59 72 22.0

Headcount 4,772 4,669 4,170 -10.7

31

Enel SpA

Infrastructure & Network - Italy


Revenues 5,762 5,457 6,537 19.8

EBITDA 3,726 3,543 3,719 5.0

EBIT 2,833 2,742 2,844 3.7

Capex 1,587 1,587 1,407 -11.3

Headcount 22,710 22,710 20,394 -10

1. Excluding assets held for sale 32

Enel SpA

International


Revenues 7,654 2,794 4,708 68.5

EBITDA 2,380 766 1,044 36.3

EBIT 1,494 354 556 57.1

Capex 1,983 332 681 105.1

Headcount 31,754 11,259 16,865 49.8

33

Enel SpA

Iberia & Latam

€mn FY07 pro-forma FY08 %

Revenues 4,517 15,805 -

EBITDA 1,420 4,647 -

EBIT 884 2,848 -

Capex 1,255 2,382 -

Headcount 19,786 17,827 -9.9

34

Enel SpA

Enel Green Power

€mn FY07 pro-forma FY08 %

Revenues 1,536 1,852 +20.6

EBITDA 989 1,188 +20.1

EBIT 818 981 +19.9

Capex 663 951 +43.4

Headcount 2,313 2,432 +5.1

35

Enel SpA
2008 Results - Annexes Investor Relations

Enel Green Power - Key indicators

Production Installed capacity
(TWh) (GW)
17,2 0,05 4,5
0,7 0,0
0,0 0,3
5,2

2,5

9,6

1,2
2,1

Wind Hydro Geo Solar Other 2008 Wind Hydro Geo Solar Other 2008

12% 56% 30% 0% 2% 100% 28% 56% 15% 0% 1% 100%

2008 additional capacity (MW)
380 17 0 0 0 397

Revenues EBITDA
(€mn) (€mn)
1.852
1.188
24 286
0 13
0
559 459

771 543

173
212
Wind Hydro Geo Solar Other Other 2008 Wind Hydro Geo Solar Other 2008
techn. revenues techn.
11% 42% 30% 0% 1% 15% 100% 15% 46% 39% 0% 1% 100%

36

2008 Results - Financial annexes Enel SpA
Investor Relations

Services & Holding


Revenues 2,097 3,027 2,901 -4.2
Holding 950 950 727 -23.5
Services & other 1,147 1,147 1,169 1.9

Engineering & Innovation - 930 1,005 8.1

EBITDA 51 61 53 13.1
Holding -59 -59 -71 -20.3
Services & other 130 130 116 -10.8

Engineering & Innovation - 11 14 27.3

Other & Elisions -20 -21 -6 +71.4

EBIT -46 -39 -62 -59.0
Holding -75 -75 -94 -25.3
Services & other 49 49 27 -44.9
Engineering & Innovation - 8 11 37.5

Other & Elisions -20 -21 -6 71.4
37

Enel SpA

Services & Holding - Continued


Capex 133 133 122 -8.3
Holding 19 19 13 -31.6
Services & other 114 114 109 -4.4

Headcount 4,958 5,832 6,175 5.9
Holding 735 728 749 2.9
Services & other 4,223 4,223 4,406 4.3

Engeneering & Innovation - 881 1,020 15.8

38

Enel SpA

Capex by business area (€mn)

+31.9%

6,502
+8.3%
122
951 +43.4%
S&H
EGP
4,929
Iberia & Latam 133 +89.8%
International 663
I&N 2,382
Market
G&EM 1,255

332 681 +105.1%

-11.3%
1,587 1,407

59 72 +22.0%
900 887 -1.4%

FY07 FY081

1. Excluding investment of Viesgo, Endesa Europe, Ecyr and Enel Rete Gas equal to 895 €mn 39

Enel SpA
Investor Relations

Annexes



– Market - Italy


– International



40

Enel SpA
Generation and Energy Management - Italy Investor Relations

Market scenario

Additional CCGT capacity (GW)

Repowering Greenfield

1.1 7.7

3.9
1.1 1.1
0.4

3.5

2.7
6.6

0.8

1.9

2008 2009 2010-11 under Total
construction

41

Enel SpA

CO2

Variable costs1 (€/MWh) Enel’s balance 2008-2012 (mton CO2e)

CO2 costs
Variable costs

54

4
36 29

8
50

28

Expected Allocations Shortage
Clean Coal CCGT emissions
Clean coal stongly competitive even with very high CO2 prices
2008-2012 CO2 position already hedged

42
1. Based on forward 2012 (average February 11– 24 2009), Brent = 62,8 $/bbl, API2 = 90,6 $/ton, CO2 = 10,6 €/ton; €/$ = 1.28

Enel SpA

Coal and shipping sourcing strategy

Coverage of sourcing needs (%) Coal sourcing diversification

Coal Shipping South Africa

~100 ~ 100

75
65
Colombia

Russia
Indonesia
2009 2010 2009 2010 Others

43

Enel SpA
Investor Relations

Annexes



– Market - Italy


– International



44

Enel SpA
Market - Italy Investor Relations

Electricity market evolution 2008-20131

Electricity Consumption (TWh) Number of Customers (mn)

36.7 37.7
35.8
298 314
296

67.2 ~21% 22.9 ~61%
83.0 ~28% ~88%
95.9 ~33%
~77%
31.7 28.3

246.8
199.8 214.8
14.8
8.3
4.1
-41.9 -41.6 -43.1
2008 2010 2013
2008 2010 2013

Eligible market
Free market
Self consumption and losses

1. Source: 2008 volumes = Terna/AU; 2008 customers = Enel’s estimates 45

Enel SpA

2008-2013 gas market evolution1,2 (bcm)

49.6 48.5 50.6
Other uses
1.1 1.1
1.1

Residential 29.4 31.0
29.6
market

19.1 17.8 18.5
Industrial
market

2008 2010 2013

1. Excluding technical losses and gas burnt for thermal generation
46
2. Source: Ministry of Economic Development and Enel’s estimates

Enel SpA

Enel’s targets in 2013

Electricity free market1 (TWh) Electricity regulated market2 (TWh) Gas (bcm)

Retail & Business
Energy intensive
94.8 8.2
71.2
73.0 6.5
59.6 5.7
54.2
52.0
63.2
38.8 51.6

15.4 8.0 8.0

2008 2010 2013 2008 2010 2013 2008 2010 2013
• Strong increase in SME and • Volume decline in free market in • Selection of market segment
residential portfolio line with Enel’s increase on the consistent with strategy in power
market
• Reduced sales to Single Buyer
• Dual energy offer sustains
• Excellence in service quality customer retention

1. Including technical losses and excluding “Salvaguardia” customers
2. Including technical losses and “Salvaguardia” customers 47

Enel SpA

Enel forward selling 2009-20111

TWh 2009 2010 2011

Mass Market 19.4 18.3 17.0

Corporate2 45.7 18.0 11.6

TOTAL SALES 65.1 36.3 28.6

1. Including technical losses and churn rate. Total portfolio as of 28 February 2009
2. Including “Salvaguardia” customers 48

Enel SpA
Investor Relations

Annexes



– Market - Italy


– International



49

Uso: Ristretto
Infrastucture & Network - Italy

Evolution of Enel electricity distributed and customers

Electricity distributed (TWh) Customers (mn)

Market share 80% 80% Market share 87% 85%
Market share 80% 80% Market share 87% 85%

269 32.2

31.5
259 31.1
255 258
30.8

2007 2008 2010 2013 2007 2008 2010 2013
2008-2013 CAGR 2008-2013 CAGR
+0,8% +0,7%

1. Net of network losses, including self-generation

Uso: Ristretto

Infrastucture & Network - Italy

Cost leadership and operational excellence

Opex (€/customer)
80 2001 (128 min ; 80 €/customer)

2002

2003
2004

60 2005
2006

2007

2008 (561 min ; 49 €/customer)

40
Quality of service
(min interruption/year)
130 80 30

1. From 2008 introduced new regulatory calculation system for the quality of service

Enel SpA
Investor Relations

Annexes



– Market - Italy


– International



52

Enel SpA
International Investor Relations

Net capacity installed (GW)

15 15 15.4
14.5 14.3 14.6
1.7 1.8 1.8 2.2 2.6
2.1

5.3 4.5 4.5 4.5
5.1 5.3

4.8 4.8 4.8 4.8
5.0 5.0

2.3 2.3 2.3 2.3
2.3 2.3
0.8 1.2 1.2 1.2
2008 2009 2010 2011 2012 2013

Nuclear

Hydro
Coal

CCGT

Oil & gas

53

Enel SpA

Russia – Demand evolution and reserve margin

Demand
Reserve margin
• Consumption driven by economic growth and higher
standard of life

• Change in consumption mix: increase in residential
and commercial consumptions vs industrials 2008
2013

(TWh)
45% 45%
1,500
Government forecast1
1,400
+4,0%2 15%
18%
1,300

1,200

1,100 Enel Europe/Urals Siberia
forecast
1,000
+1,2%2
900
2008 2013

1. RAO UES forecast;
2. 2008-2013 CAGR 54

Enel SpA

Russia – Market liberalization and capacity development

New capacity addition 2006-2020 Liberalization rate2
(GW/year) (% of the production sold to free market)

100%

Actual % 90%
16.3
New estimates
13.7 70%
Mandatory
investment 60%

plan1
7.2 40%
35%

25%
18% 20%

2006-2010 2011-15 2016-20
Jan- Jul- Jan- Jul- Jan- Jul- Jan- Jul- Jan-
07 07 08 08 09 09 10 10 11
Transitional period Market rules

• Mandatory investment plans defined by the • Liberalization thresholds goes ahead as
Government for the 2006-10 period planned (30% free market share from Jan
2009)
• Implementation of the plan is strictly linked to
demand projections and the liberalization rate • As of August 2008 capacity market
in operation

1. Government asked all the buyers of the OGKs and TGKs to commit to investing in new capacity
2. It excludes the residential consumers consumption equal to about 15% of total demand 55
3. Source: RAO UES

Enel SpA

Russia – OGK5 operational forecasts

Net installed capacity (GW) Production (TWh)

8.8 8.8
46.0

4.4 4.4
19.4
39.2 4.8
0.8 0.8
21.0
3.6 21.7
3.6 18.2

2010 2013 - 2010 2013 -

CCGT Oil&gas
Coal

• Plant availability and sales increased by 8.2% and 10.5%
respectively vs 2007

• Focus on coal plant: increased availability and efficiency. Improved
environmental performances thanks to Dry Ash removal system

• Capacity addition: two CCGT units (2x410MW) operational in 2011
56

Enel SpA

Eastern Europe – Demand evolution

Slovakia (TWh) Romania (TWh)
+1.3%
+1.1%
55.5 59.1
31.6
29.8

2008 2013
2008 2013
Bulgaria (TWh)
+1.2%

36.6
34.5

2008 2013
57

Enel SpA

Slovakia – SE operational forecasts

Net installed capacity (GW) Production (TWh)

25.6
6.2
2.7
5.4 0.4 21.0
0.4 0.8
3.9
0.8
2.6
1.8 18.8
13.0
2.3 2.3

4.1 4.1

2010 2013 - 2010 2013 -

Nuclear Coal
Hydro Oil&gas

• Improvement in nuclear plants availability thanks to the optimization of
outages and maintenance activities

• Thermal plant: optimization of O&M activities

• Hydro plant management in line with Enel group benchmark

• Capacity addition: two nuclear units of Mochovce plant (2x472MW) to be
operational in 2012-2013 58

Enel SpA

Romania - Electricity distributed & sold

Energy distributed (TWh)

2010 2013

Energy sold (TWh)
19.2
Free customers (thousand)
3.3

Free market
Regulated market

2010 2013

59

Enel SpA

France & Belgium - Electricity sold to big clients (TWh)

Energy sold (TWh)

••1,200 MW of anticipated
1,200 MW of anticipated
capacity from EPR in 2011
capacity from EPR in 2011

••New CCGT capacity: Marcinelle
New CCGT capacity: Marcinelle
410 MW operational from 2011
410 MW operational from 2011
7.5

4.3

2010 2013

60

Enel SpA
Investor Relations

Annexes



– Market - Italy


– International



61

Enel SpA
Iberia & Latin America Investor Relations

Iberia
Electricity generation market

Reserve Margin Installed capacity 2008-2013 (GW)

Renewables Hydro
Nuclear CCGT
Coal Oil and Gas
20% 18% 17% CAGR 08 -13
58
55 55 100
88 92 9
49 1 -3,9%
46 47 3 11
11 26 +4.4%
23
21 8 +2.7%
7
7 19 +1.1%
18
18

38
28 32 +6.3%

2008 2010 2013 2008 2010 2013
Available capacity at peak
Peak demand

62

Enel SpA

Iberia
Mainland regulated and free market

2008-2013 consumptions (TWh)

182
171

140

101

80
75

2008 2010 2013

Free market Regulated market

63

Enel SpA

Latam
Electricity demand 2008-2013 (TWh)

2008 453
Brazil 2010 495 +4.5%

2013 563

2008 55
Chile 2010 59 +4.9%
2013 70

2008 54
CAGR 2008-2013
Colombia 2010 58 +3.9%
2013 65

2008 29
Peru 2010 35 +6.5%

2013 40

2008 110
Argentina 2010 119 +4.5%
2013 138

64

Enel SpA

Iberia - Endesa

Net installed capacity (GW)

Extra-peninsular

Oil and Gas 24.5
22.9

Coal 6.1
5.2

0.5
CCGT 5.1
5.1

Nuclear 3.7
2.9

3.7 3.7
Hydro

4.7 5.1
Renewables
0.8 0.8
2010 2013

65
Relating to Endesa 100%

Enel SpA

Iberia - Endesa

Electricity sold (TWh) Gas sold (bmc)

13
12.4
1.0
Customers Customers 0.9
(mn) (mn)
121.6 4.7
113.9
4.1
49.3 47.4

64.6 74.2

2010 2013 2010 2013

Captive market
Free market

66

Enel SpA

Iberia – Endesa

Electricity distributed (TWh)

135.3
126.3

2010 2013

67

Enel SpA
Investor Relations

Annexes



– Market - Italy


– International



68

Enel SpA
Enel Green Power Investor Relations

Enel Green Power - Overview

Net installed capacity (GW) Net production (TWh) Capex (€bn)

5.3 6.3 19.9 22.7 solar other
0.1 0.1 0.4 6% 3%
0.3
0.8 0.1 0.1 geo
0.8 18%
5.7 5.8

1.9 2.8 4.2 6.5 wind
59%
hydro
14%

Capex 09-13 = €3.7 bn
2.5 9.7 9.9
2.6
other
solar
2010 2013 2010 2013 geo
wind
Load Factor 44% 42% hydro

• + 1.9 GW of installed capacity (+42% vs. 2008) and + 5,5 TWh of production in 2013
(+32% vs. 2008)
• High load factor (vs. pure wind portfolio) thanks to diversified mix
• Development focused mainly on wind, causing load factor to slightly decrease
69

Enel SpA

Fundamentals of renewable energies remain solid despite current
macroeconomic environment

Global renewable capacity (GW) Δ capacity CAGR

min max min max
3.020 +670 GW +1.870 GW 4% 8%

1000 +250 GW +650 GW 5% 9%

1.820
110 +40 GW +80 GW 7% 12%
Asia 330 +50 GW +180 GW 2% 7%
Africa 600
Latin America 1.150
550 +100 GW +320 GW 3% 8%
North America 70
Europe 350 200
30 330
150
230 1030 +230 GW +640 GW 4% 8%
620
390

2008 2020 min 2020 max

700 – 1,900GW of renewable capacity addition
Growth in all geographies thanks to political and regulatory support

70

Enel SpA

Pipeline

A solid pipeline… …evenly split among geographies
16,7
2.8

16.7 5.5
11.0 2.3
2.7
3.5
0.6 1.6 3.4
construction

Potential

Total
confident

(50%)

Italy

Iberia

Europe

America

America

Total
Likely

(20%)
(90%)
Highly

North

Latin
(100%)
Under

5.6 GW of which 2.4 0.4 1.4 0.9 0.5 5.6 GW

• 5.6 GW of solid pipeline plus over 11,0 GW of back-up options
• Financial discipline: geographies and technologies compete for capital
allocation on the base of profitability

71

Enel SpA
Investor Relations
Enel Green Power

Key ratios – Proforma 2008

Production (TWh) Load factor (%) Incentivized production1 (%)

17.2 69% 99%
Other
0.3
Geo 5.2 88% 34%

44% 7%
Hydro 9.6

Wind 2.1 22% 95%
2008
Avg. 46% Avg. 27%

High load factor and low dependence on incentive schemes

72
1. Includes production from plants entitled to PTCs (North America)

Enel SpA
Investor Relations
Enel Green Power

Regulatory and market outlook

Incentivized Avg. Regulatory
Country Capacity production1 remuneration2 framework

2.547 MW 24% 95 €/MWh Green Certificates,
Italy Feed-in

399 MW 100% 104 €/MWh Feed-in,
Spain
Market+Premium

France 12 MW 100% 82 €/MWh Feed-in

Greece 91 MW 100% 81 €/MWh Feed-in, Grants

North 748 MW 59% 42 €/MWh PTC, ITC
America

Latin Green Certificates,
667 MW 0% 76 €/MWh
America Fiscal Incentives

Total 4.464 MW 27% 86 €/MWh

Diversified geographies with low dependence
on incentive schemes
1. Includes production from plants entitled to PTCs (North America)
2. Net of effects of hedging policy 73

Enel SpA
2009 – 2013 plan Investor Relations

Cash flow generation: Zenith efficiency programme

(€ mn)

1,400 1,300

200 250
200 150 Other
Other
International best International best
250 250
practice sharing practice sharing
Credit management
Shared Services 300 300 Inventory
optimization
Customer management
management 450 350 Procurement
Lean
operations

Cumulative Cumulative
impact on EBITDA1 impact on Working Capital

74
1. Figures do not include Endesa

Enel SpA
Investor Relations

Disclaimer

This presentation contains certain statements that are neither reported financial results nor
other historical information (“forward-looking statements”). These forward-looking
statements are based on Enel S.p.A.’s current expectations and projections about future
events. Because these forward-looking statements are subject to risks and uncertainties,
actual future results may differ materially from those expressed in or implied by these
statements due to any number of different factors, many of which are beyond the ability of
Enel S.p.A. to control or estimate precisely, including changes in the regulatory
environment, future market developments, fluctuations in the price and availability of fuel
and other risks. You are cautioned not to place undue reliance on the forward-looking
statements contained herein, which are made only as of the date of this presentation. Enel
S.p.A. does not undertake any obligation to publicly release any revisions to any forward-
looking statements to reflect events or circumstances after the date of this presentation.
THIS PRESENTATION DOES NOT CONSTITUTE AN OFFER OF SECURITIES IN THE UNITED
STATES OR ANY OTHER JURISDICTION. SECURITIES MAY NOT BE OFFERED OR SOLD IN
THE UNITED STATES ABSENT REGISTRATION WITH THE U.S. SECURITIES AND EXCHANGE
COMMISSION OR AN EXEMPTION FROM REGISTRATION UNDER THE U.S. SECURITIES ACT
OF 1933, AS AMENDED. ANY PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES
WOULD BE MADE ONLY BY MEANS OF A PROSPECTUS TO BE OBTAINED FROM ENEL S.P.A.,
WHICH WOULD CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND ITS
MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS. THERE IS NO INTENTION TO
REGISTER ANY OFFERING OF SECURITIES BY ENEL S.P.A. IN THE UNITED STATES OR TO
CONDUCT A PUBLIC OFFERING OF SECURITIES OF THE COMPANY IN THE UNITED STATES.
ANY NON-PUBLIC OFFERING OF SECURITIES IN THE UNITED STATES WOULD BE MADE
ONLY BY MEANS OF AN OFFERING MEMORANDUM CONTAINING INFORMATION SIMILAR TO
THAT IN A PROSPECTUS; NO SUCH OFFERING MEMORANDUM HAS BEEN PREPARED AND NO
OFFER OF SECURITIES OF THE COMPANY, PUBLIC OR OTHERWISE, HAS BEEN MADE IN ANY
JURISDICTION, INCLUDING THE UNITED STATES. THIS PRESENTATION IS NOT FOR
DISSEMINATION OR PUBLICATION IN THE UNITED STATES.

75

Enel SpA
Investor Relations

Contact us

Investor Relations Team (investor.relations@enel.com)

• Luca Torchia (Head of IR) +39 06 83053437

• Pedro Cañamero +39 06 83055292
• Elisabetta Ghezzi +39 06 83052708
• Donatella Izzo +39 06 83057449
• Federica Todaro
+39 06 83059502
• Angela Tretola
+39 06 83052062

Visit our website at:

www.enel.it (Investor Relations)

76

Annexes To 2008 Results And 2009 2013 Business Plan

Recomendados

Recomendados

Mais conteúdo relacionado

Semelhante a Annexes To 2008 Results And 2009 2013 Business Plan

Semelhante a Annexes To 2008 Results And 2009 2013 Business Plan (20)

Mais de Enel S.p.A.

Mais de Enel S.p.A. (20)

Último

Último (20)

Annexes To 2008 Results And 2009 2013 Business Plan