Enel is Italy's largest power company and Europe's second-largest utility for installed capacity. It produces, distributes and sells electricity and gas across Europe, North and Latin America. After the acquisition of the Spanish utility Endesa, together with partner Acciona, and the tender offer launched on the Russian generation company OGK-5, Enel has now a presence in 21 countries with approx. 100.000 MW of generating capacity and serves about 50 million power and gas customers. Listed on the Milan and New York stock exchanges since 1999, Enel has the largest number of shareholders of any European company, at some 2.3 million. It has a market capitalisation of about EUR 50 billion.
Enel is also the second-largest Italian distributor and vendor of natural gas, with over 2.3 million customers and a 12% market share. The company has 58,548 employees and operates a wide range of hydroelectric, thermoelectric, nuclear, geothermal, wind-power, and photovoltaic power stations. In 2006, Enel posted revenues of 38.5 billion euros, EBITDA of 8 billion euros and net income of 3 billion euros.
Enel was the first utility in the world to replace its Italian customers’ traditional electromechanical meters with modern electronic devices that make it possible to take meter readings in real time and manage contractual relationships remotely. This innovation has enabled Enel to implement time-of-use electricity charges, which offer customer savings for evening and weekend electricity use, an initiative that has attracted interest from many utilities in Italy and around the world.
After having completed the sale of non-strategic assets (property, telecommunications, water management ect.) Enel is actively engaged in international expansion in the power and gas market. With 19,000 MW in plants using renewable energy resources (hydro, geothermal, wind, solar and biomass) across the world, Enel is a world leader in the sector. In December 2006, Enel launched a five-year plan (2007–2011) for the development of renewable energy sources and for research and development of new environmentally friendly technologies with an overall investment of 4.1 billion euros. Enel is strongly focused on international growth and has a presence in Europe (Italy, Bulgaria, Romania, Slovakia, Greece, France and Spain), North America (Canada and the United States) and Latin America (Guatemala, Brazil, Chile, Costa Rica, El Salvador and Panama). With Endesa, Enel will also be present in Portugal, Argentina, Peru, Colombia and Morocco).
Enel runs operations in Spain in the generation, distribution and sale of electricity with Enel Viesgo, which has about 2,200 MW in installed capacity, and with Enel Union Fenosa Renovables, a company active in the wind and hydro power sector. On 1 October 2007, Enel and partner Acciona successfully completed their Joint Tender Offer over Endesa. Enel and Acciona currently hold 92% of the share capital of Endesa (Enel 67%, Acciona 25%).