Related parties

Related parties have been identified on the basis of the provisions of international accounting standards and the applicable CONSOB measures.

Transactions entered into with companies wholly controlled, directly or indirectly, by the Ministry for the Economy and Finance are primarily related to the sale of electricity to the Single Buyer at market prices and energy transport fees paid to Terna. Transport fees are established by the Authority for Energy and Gas.

The transactions Enel SpA entered into with its subsidiaries mainly involved services, the provision and employment of financial resources, insurance coverage, human resource management and organization, legal and corporate services, and the planning and coordination of tax and administrative activities.

All the transactions are part of routine operations, are carried out in the interest of the Company and are settled on an arm’s length basis, i.e. on the same market terms as agreements entered into between two independent parties.

Finally, the Enel Group’s corporate governance rules (for more details see the appropriate section in this report) establish conditions for ensuring that transactions with related parties are performed in accordance with procedural and substantive propriety.

The following tables summarize commercial, financial and other relationships between the Company and related parties.