Type Sociedad Anónima Industry Public utility Headquarters Madrid, Spain | Traded as BMAD: ELE Founded 1944 Revenue 31.2 billion EUR (2013) | |
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Key people Andrea Brentan (CEO), Borja Prado Eulate (Chairman) Services Electricity generation and distribution Stock price ELE (BME) € 20.55 -0.11 (-0.51%)10 Mar, 2:18 PM GMT+1 - Disclaimer CEO Jose Damian Bogas Galvez (7 Oct 2014–) Subsidiaries Enersis S.A., Unelco Endesa, Nuclenor, S.A. Profiles | ||
Endesa, S.A. ([enˈdesa], originally an initialism for Empresa Nacional de Electricidad, S.A.) is the largest electric utility company in Spain. The firm, a majority-owned subsidiary of the Italian utility company Enel, has 10 million customers in Spain, with domestic annual generation of over 97,600 GWh from nuclear, fossil-fueled, hydroelectric, and renewable resource power plants. Internationally, it serves another 10 million customers and provides over 80,100 GWh annually. Total customers numbered 22.2 million as of December 31, 2004. It also markets energy in Europe. The company has additional interests in Spanish natural gas and telecommunications companies.
Contents
History
The company was formed in 1944 as Empresa Nacional de Electricidad, S.A. and changed its name to Endesa, S.A. in 1997. In September 2004, it took control of the French company SNET (Société nationale d'électricité et de thermique). This was followed by the downsizing of 30% of SNET's employees.
Takeover
In September 2005, Barcelona-based Gas Natural made a bid for Endesa, whose board unanimously immediately rejected a €23 billion (£16 billion) offer. On January 5, 2006, the Tribunal de Defensa de la Competencia (Competition Court, TDC) blocked the merger of Gas Natural and Endesa because of what it claimed would be irreversible negative impacts on competition. For most of 2006 and 2007, Endesa was the target of rival takeover bids by Germany's E.On and the Italian firm Enel. Despite Gas Natural being half the size of Endesa, its bid was championed by the then-Socialist government as an all-Spanish deal, but Gas Natural decided to withdraw its bid after the German firm E.On offered a higher bid for the company. The opposition People's Party of the day, and some Madrid politicians, criticised the bid, alleging political interference by the Socialists and a Catalan nationalist plot to control energy supply respectively.
On 2 February 2007, E.On offered €38.75 for each share of Endesa. The German firm withdrew its bid two months later in exchange for a promise from rival bidders to sell it part of the Spanish utility's assets. SNET, Endesa Italia and Enel's Viesgo were amongst the business units ultimately sold off to E.On. Acciona and Enel succeeded in their joint bid to acquire Endesa in October 2007 for an estimated €42.5 billion and they announced later that month that they jointly held 92.06% of Endesa's share capital (25.01% Acciona and 67.05% Enel) as a result of their 100% takeover bid launched on Endesa, with the remaining 7.94% being free float.
The two companies initially jointly managed Endesa through an Acciona-controlled holding company which held 50.01% of Endesa's share capital, but in February 2009 Enel agreed to buy out Acciona's stake, taking its total ownership to over 92%. Some Endesa assets will be sold off to Acciona as part of the deal.
As of September 2015, ENEL owned 70.1% of Endesa's share capital.
Carbon intensity
The group produced in 2008 globally 55 tonnes high radioactive waste and 54.200 kTon CO2. Its electricity came with 420 μg/kWh nuclear waste and 352 grammes of CO2 per kWh.
Electric vehicle
In Europe, Endesa is the only Spanish company involved in the ELVIRE (Electric Vehicle Communication to Infrastructure, Road Services and Electricity Supply) and G4V (Grid for Vehicles) consortia aimed at developing the necessary technology, solutions and services to enable ongoing interaction between drivers, their power suppliers and the smart grid.
The Chairman of Endesa, Borja Prado, together with the mayor of Madrid, Alberto Ruiz Gallardón, and the Chairman of Telefónica, César Alierta, have the phone booth in Madrid which can also be used for recharging electric vehicles. Reserved parking spaces will be located next to this and all other booths set up in Metropolitan areas where users will be able to park their EVs and recharge at no cost once they have obtained their free "zero emissions" pre-paid card from the Madrid city council.