Enel is Italy’s largest power company, and Europe’s second listed utility by installed capacity. It is an integrated player which produces, distributes and sells electricity and gas. Further to the acquisition of the Spanish utility Endesa, Enel has now a presence in 23 countries with approximately 95,400 MW of net installed capacity and serves 60.5 million power and gas customers. Listed on the Milan stock exchange since 1999, Enel has the largest number of shareholders of any Italian company, at some 1.2 million retail and institutional investors in 2008. Enel is also the second-largest Italian operator in the natural gas market, with approximately 2.7 million customers and a 10% market share in terms of volumes.

BUSINESS OVERVIEW
The company has some 82,500 employees and operates a wide range of hydroelectric, thermoelectric, nuclear, geothermal, wind-power, photovoltaic and biomass power stations. In 2008, Enel posted revenues of 61.2 billion euros (+40% compared with 2007), EBITDA of 14.3 billion euros (+45.5%) and net income of 5.3 billion euros (+35.2%).
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 around the world.

(Unless otherwise indicated, this report relies on data from June 30th 2009, including Endesa fully consolidated and net of assets under transfer in Spain and in Italy).