ENEL: management transactions · Italy · Consob

About ENEL

Enel S.p.A. is one of Europe’s leading utility groups and a flagship stock on Borsa Italiana (FTSE MIB) in Italy. The company traces its roots back to 1962, when it was created as the Italian National Electricity Board (“Ente Nazionale per l’Energia Elettrica”) following the consolidation of most electricity generation, transmission and distribution activities in Italy. Headquartered in Rome, Enel has evolved from a domestic power monopoly into a multinational energy platform with operations in roughly 30 countries. For international equity investors, Enel is best understood as an integrated electricity group positioned at the intersection of regulated infrastructure, renewable growth and retail energy services. ([enel.com](https://www.enel.com/company/about-us/our-story)) Enel’s operating model is built around four main business lines: Enel Green Power, Enel Grids, Thermal Generation and Trading, and End-User Markets. Enel Green Power houses the renewable generation portfolio, spanning wind, solar, hydro and related technologies. Enel Grids manages electricity distribution networks and is central to the group’s long-term investment thesis, because network assets provide visibility, resilience and regulatory-linked returns. Thermal Generation and Trading covers conventional generation and wholesale energy trading, while End-User Markets serves households, businesses and public bodies with electricity and gas supply, bundled offers and adjacent services, including e-mobility charging solutions. Enel states that it is the world’s leading private operator in renewable energy and electricity distribution, serving about 54 million customers and managing about 1.9 million kilometers of distribution grid. ([enel.com](https://www.enel.com/company/our-business?utm_source=openai)) From a competitive standpoint, Enel combines scale, geographical diversification and a growing share of regulated or semi-regulated earnings. Its current strategy is focused on countries with the highest growth potential and the most stable environments, with particular emphasis on grids, renewables and customers. In February 2026, the group announced a 2026-2028 strategic plan totaling €53 billion of investments, including roughly €20 billion for renewables and more than €26 billion for grids. The plan also targets around 15 GW of new renewable capacity and reflects a continued shift toward cleaner generation, smarter networks and more disciplined capital allocation. ([enel.com](https://www.enel.com/media/explore/search-press-releases/press/2026/02/enel-2026-2028-strategic-plan?utm_source=openai)) Recent developments reinforce that strategic direction. Enel reported 2025 revenue of €80.3 billion, with growth helped by thermal generation and trading, while the grids segment improved its ordinary EBITDA thanks to accelerated investment. At the same time, the group continued to rationalize its portfolio through asset disposals, including selected activities in Latin America and certain Italian distribution assets, in order to strengthen the balance sheet and improve risk/return. Management also continues to highlight decarbonization goals, including the planned phase-out of its last coal-fired plant by 2027 and net zero emissions across all areas by 2040. ([corporate.enel.it](https://corporate.enel.it/content/dam/enel-common/press/en/2026-march/Enel%20results%20FY2025.pdf))