Enel S.p.A. is an Italian multinational manufacturer and distributor of electricity and gas. Enel, which originally stood for Ente nazionale per l'energia elettrica (National Electricity Board), was first established as a public body at the end of 1962, and then transformed into a limited company in 1992.[7] In 1999, following the liberalisation of the electricity market in Italy, Enel was privatised.[8] The Italian state, through the Ministry of Economy and Finance, is the main shareholder, with 23.6% of the share capital as of 1 April 2016.[9]
Enel is the 59th largest company in the world by revenue, with $147.79 billion in 2023.[10] As of 2018, Enel is also the second largest electric utility company in the world by revenue after the State Grid Corporation of China.[11] The company is quoted on the FTSE MIB index on the Borsa Italiana.[9]
In 1898, the production of electricity in Italy was 100 GWh,[12] and had a value of over $56 billion by 1960.[clarification needed][13][14] The majority of the electricity was produced by regional private companies,[15] or by companies linked to other industrial bodies,[16][17][18] both local and regional, by exploiting the specific characteristics of the territory: its hydrogeological resources.[19]
The state subsidised the construction of power stations and other necessary construction work in the territory in order to increase the production of electricity.[20][21][22] In 1961, the state-regulated distribution, with unified national tariffs set on the basis of equal consumption classes (through the Equalisation Fund for the Electricity Sector[17]: 137 [23]), and by requiring power companies to provide access to electricity for everyone.[16][18][24][25]
In 1962, the government institutionalised the Entity for electricity with the aim of making electricity a means for the development of the country and in order to define a national policy for electricity based on the experiences of other countries such as France and the United Kingdom.[24][25]
At the beginning of 1962, the Fanfani IV Cabinet committed the government to put together a proposal for the unification of the national electricity system within three months of the parliament passing a confidence motion.[26][27]