The Italian energy group Enel has published its annual results and reported a significant increase in sales of electricity (+8.3% to 285 TWh) and gas (+10% to 12 bcm) in 2017. The company generated 250 TWh in 2017 (-4.5%), mainly from thermal (57%), renewables (33%) and nuclear (10%)
and distributed 445.2 TWh (+4.3%). The decrease in power generation is attributable to the deconsolidation of Slovenské Elektrárne (Slovakia) and Marcinelle in Belgium (-9.5 TWh), which cut conventional generation (nuclear and thermal) by 7.7 TWh in 2017 and also reduced hydropower generation. However, Enel's power capacity increased by around 3%, from 82.7 GW in 2016 to 84.9 GW in 2017, thanks to the addition of 2 GW of renewable capacity, as underlined in the Group mix decarbonisation strategy (set for 2050), which sets a target of 50% of renewables in the group's total installed capacity in 2019.
In 2017, the company distributed 445 TWh (+4% on 2017), of which 227 TWh in Italy (+1.4%) and 218 TWh abroad (+7.6%) mainly in Brazil. Power sales rose by nearly 22 TWh, due to an increase in Italian quantities (+9.1 TWh, mainly attributable to sales to business customers) and in South America (+12 TWh), due to the acquisition of Enel Distribuçao Goiás in Brasil, and in Spain (+3 TWh).
The group's revenues and net income increased respectively by 5.7% and 47% in 2017 to €74.6bn and €3.8bn, while its debt slightly decreased to €37.4bn (-0.4%). Revenues decreased by 36.5% in Europe and North Africa but were offset by South America (+22%).