29.06.05

29.6.2005: Meldung: Empresa Nacional de Electricidad SA (Endesa): Sales Rose 17.2% To 85,756 GWH - Global Power Output Raises by 8.4%

ENDESA"S SALES IN THE COUNTRIES WHERE IT OPERATES ROSE 17.2% TO 85,756 GWH


* Provisional data for the first five months of 2005.

* Sales in the Spanish and Portuguese markets grew 4% to 41,105 GWh.

* Sales to deregulated clients rose by 21.2% in Spain and Portugal.52% of ENDESA"s power sales were made in markets outside Spain and Portugal.

* In Europe, power sales have grown by 82.2% thanks to the opening of the deregulated Italian market, the consolidation of Snet sales in France and Endesa Energ?a sales in Europe.


ENDESA increased sales in the first five months of 2005 by 17.2% to 85,756 GWh in all the countries where it operates. Power sales in Europe surged by 82.2% to 22,056 GWh, thanks to the opening up of the deregulated Italian market, the consolidation of Snet"s sales in France -ENDESA raised its shareholding in Snet to 65% in September 2004- and Endesa Energ?a sales in Europe, which rose 11.7% to 1,698 GWh.

More than 52% of ENDESA"s power sales were made in markets outside Spain and Portugal.
In Spain and Portugal, ENDESA"s sales between January and June rose by 4% to 41,105 GWh. Sales in the deregulated market grew 21.2% (to 14,393 GWh).

Europe and Latin America

Power sales in Europe increased by 82.2% (to 22,056 GWh) thanks to the steady progress of Italy"s deregulated market and the consolidation of French power generator Snet in ENDESA"s accounts after the increase in shareholding to 65% at the beginning of September. Snet sales totalled 7,041 GWh. Meanwhile, sales of Endesa Energ?a in Europe also increased significantly, with 1,698 GWh of power sold in Portugal, Andorra, Germany and France, 11.7% more than in the same period last year.

Power sales in Italy increased by 25.8%, to 13,317 GWh, thanks to the opening up of the deregulated market in the first half of last year.

Power sales in Latin America have maintained a steady uptrend, rising by 4.8% overall, with positive growth in all countries where ENDESA has a presence. The Company sold 22,595 GWh in the region.

Growth was strongest in Brazil, with a 7.8% rise to 6,080 GWh, and Peru, with a 6.8% increase to 1,869 GWh. In Argentina, sales increased by 2.2% -5.758 W- whilst in Chile they grew by 4,9%, up to 4,804 GWh. In Colombia sales grew by 3.1% (4,084 GWh). These figures underscore the steady recovery of the Latin American economy.




ENDESA RAISES ITS GLOBAL POWER OUTPUT BY 8.4%


* Provisional data for the first five months of 2005.

* Growth in generation in Europe of 58% underpinned the sharp rise in production.

* The company produced a total of 77,632 GWh in the first five months of 2005, of which 39,293 GWh were in Spain, a slight increase of 0.1% on the previous year due to drought.

* Generation at ENDESA"s CCGTs increased by 29% to May 2005 and now contributes 19% of the Group"s global output.50% of ENDESA"s total energy is generated outside Spain.



ENDESA produced a total de 77,632 GWh in the first five months of 2005, which represents growth of 8.4% with respect to 2004. This increase is due mainly to the areas of generation located outside of Spain: the increase of 58% in Europe and increase of 3.2% in Latin America are particularly noteworthy. In Spain, output stood at 39,293 GWh between January and May, which represents a slight decrease of 0.1% with respect to the same period the previous year. ENDESA currently generates 50% of its power outside Spain.

We highlight the 29% increase in generation at ENDESA"s CCGTs (to 14,922 GWh), while coal-fired production increased by 32% (to 24,840 GWh). However, ENDESA"s hydro output fell 7% (to 19,287 GWh) on the back of the 33% fall in production in Spain owing to the low levels of rainfall during the period. Nonetheless, this was far lower than the average decline of over 50% for the entire sector in Spain.

The low rainfall was also behind the surge in fuel-powered generation, while on a global level this type of production decreased by 6.75% to 8,200 GWh. Nuclear generation decreased 12.8% (to 9,557 GWh) and renewable/CHP output increased by 10% (to 826 GWh).

ENDESA boasts a balanced production mix: 25% of GWh produced at all its plants is hydro based, 32% is coal, 12% is nuclear, 11% fuel-oil/gas, 19% is from CCGTs and 1% from renewables/CHP.

This balanced mix provides ENDESA with stable generation in different scenarios, making it less vulnerable to hydro volatility in the mainland or to swings in oil and gas prices.

Spain

ENDESA produced 39,293 GWh of power in Spain in the first five months of the year, a decrease of 0.1% on the same period of 2004. Power output in the ordinary peninsula system was 33,052 GWh -a 2% decrease- and in the Balearic and Canary Islands and Ceuta-Melilla systems the Company produced 5,427 GWh, an increase of 6.2%. Energy produced via CCGTs and renewables/CHP rose 8.4% (to 814 GWh) and via wind power by 15%.

ENDESA"s hydro output in Spain which was 3,532 GWh, fell by 33% compared to 2004 levels owing to the low level of rainfall in the first five-months of the year.

The rest of ENDESA"s technologies recorded sharp increases in production. Generation by coal plants (15,573 GWh) and CCGTs (3,114 GWh) increased by 7% and 31%, respectively, due to a higher load factor. Nuclear generation (9,557 GWh) decreased by 12.8%, due mainly to the fact that in April Vandellos II was out of order due to a breakdown. Net output from fuel plants stood at 5,331 GWh, a 34% increase.

Latin America

ENDESA produced 23,878 GWh in Latin America in the first five months of 2005, an increase of 3.3%. Driving this growth was the recovery of demand in Argentina and Peru, which resulted in a sharp increase in the countries" energy needs. ENDESA"s output in Argentina rose 10.4% to 7,586 GWh and in Peru by 25.3% to 2,614 GWh. Also noteworthy was the 3.5% increase in generation in Chile (to 6,764 GWh). Production fell by 5.7% in Colombia to 4,871 GWh, and by 17.3% to 2,043 GWh in Brazil due to the lack of gas.

Europe

ENDESA also posted a substantial 58% rise in production in Europe to 14,461 GWh, driven in part by the consolidation of the French generator Snet, over which ENDESA secured control at the beginning of September last year.

Production in Italy between January and May was 9,642 GWh, 5.5% higher than the 9,142 GWh produced in the first five months of 2004. The significant boost is due to the recent operation of CCGTs (generation with this technology has increased by 84%, up to 4,353 GWh), as well as the increase in hydro output (the increase was 7.6%, up to 1,188 GWh). Coal production was broadly unchanged at 2,428 GWh, the result of the "repowering" strategy that ENDESA is carrying out in Italy which entails the replacement of fuel oil (1,661 GWh) with coal and gas.

Snet produced 4,819 GWh of output in the first five months of 2005.
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