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Grupo Enel, the energy multinational, whose subsidiary in America was the only one to show interest in becoming Electricaribe's new operator and managing the distribution and marketing of energy on the coast , must not only overcome the obstacle of the limit of participation in the Colombian market but in other countries of Latin America also experiencing conflicts.
These problems were presented to his partners, shareholders and other companies in the sector, because of the strategies he developed to promote his plan. expansion in the region.
In countries such as Chile, Brazil and Argentina, its operation is set amidst questions. This case is in addition to that of Spain, recently published by EL HERALDO, where the union UGT asks the group to "loot" Endesa, then sell the company to the "highest bidder".
Companies
In Latin America, the group is present in companies in the energy sector including unconventional renewable energies in countries such as Chile, Brazil, Brazil, Colombia, Argentina and Peru, through the intermediary of Enel Américas, a subsidiary of the Italian parent company Grupo Enel.
The multinational company arrived in Chile in 2009, when it acquired Acciona's stake in Spanish company Endesa. In 2011, six members of the board of Endesa Chile, within the subsidiary of Empresa Eléctrica Pehuenche, were sanctioned by the Superintendency of Chile for securities and insurance for the signature of a contract for the supply of electricity with their company in 2007. [19659002] Penalties were applied for the conclusion of energy sales contracts or the provision of services between related parties (companies of the group they control), under conditions that were unfavorable to minority shareholders and for the lack of transparent information. Same as the lack of knowledge regarding the terms and conditions of the contracts.
The restructuring processes of the group's companies in Chile also provoked controversy (Carter Plan and Elqui Plan), due to the dilution of the minority shareholders' interest. In the capitalizations, these were forced to put resources of a millionaire in cash to maintain their percentage while the Italians supported their investments with badets.
More from Chile
Another controversial fact, reported by the newspaper El Mercurio in its August 25, 2016 issue, occurred at "Endesa Chile agreed to" To buy energy from Enel Green Power (EGP), a renewable energy subsidiary now absorbed by Enel, for $ 3.5 billion over 25 years and at a price. $ 114 per MWh without a public tender. "
] Added to this is another agreement signed by the parties in July 2014, covering $ 2,300 million over 20 years, which would have been" agreed at a price above $ 100 per MWh, while the board of directors Endesa Chile, the value that determined if a project was launched is between 80 and 90 dollars per MWh. "
In September of the same year, the minority investors of Enel Generación have proposed to this company could take control EGP to strengthen and develop the business in unconventional renewable energy, which was opposed by Francesco Starace, CEO of Enel Italia.
The multinational Grupo Enel only invests in unconventional renewable energies. EGP, where he has a 100% stake and not through his production companies, where he should spread the profits of his business with other investors.
New Branding
One of the last move in Chile was the brand change of its major companies.
In October 2016, the Extraordinary General Meetings of Enersis Chile, Endesa Chile and Chilectra approved the names of the three companies by Enel Chile, Enel Generación and Enel Distribución. that is to say that the traditional Chilean brands have disappeared from the market.
In Brazil
One of the most recent Enel disputes was presented this year to the Spanish power company Iberdrola (via its subsidiary Neoenergía) for the control of Electropaulo, the largest energy distributor in Brazil, supplies Sao Paulo.
Iberdrola denounces Enel before the European Commission, in Brussels, for unfair competition because it does not act under the rules of the market. and take advantage of the support of the Italian government to stay with Electropaulo in the bidding war.
"With the clear support of the state, Enel clearly benefits from a privileged regulatory situation in Italy, which makes it cheaper and easier to access in the letter sent by Iberdrola to the European Commission in April. this year
The newspaper El País of Spain indicates in a publication that "Iberdrola rea It sent a very harsh letter to the European Commission in which it accused Enel of having violated the principles of free competition and of Have enjoyed a monopoly position because of its ties with the Italian state. "
During the bid, a bidding war between the two companies that raised the price per share.Neoenergía initially submitted an offer of 29.4 reais (about 7 euros), then Enel has raised its proposal to 32 reais (7.54 euros) .In the weeks that followed, bids continued to drive up prices in the context of a difficult bid between the two companies
. 39. Italian was the winner after submitting an offer superior to that of Neoenergía, a subsidiary of Iberdrola At the last moment, when the deadline for the submission of the latest proposals came up, Enel proposed 45,22 reais (10 , 45 euros = for each share of Electropaulo, a much higher offer than Iberdrola at 39.53 reais (9.09 euros)
Finally, Enel, through Enel Américas, found itself with 73.38% of Electropaulo, for which the Italian company will disburse about 1,484 Million dollars, Enel becomes the largest energy distributor in Brazil, with 17 million customers and a market share of 20%.
In Argentina
Edesur, an electricity distribution subsidiary of Enel Americas in Argentina, asked the Secretariat According to the newspaper El Mercurio de Chile, this compensation would correspond to the damages resulting from the breach of the concessionaire's contract following the freezing of the Decree on Tariffs. During the government of Néstor Kirchner.
The amount requested covers a period from 2005 to 2017.
Edesur has encountered in recent years problems in the supply of the service which have been justified on the ground that low prices
February of last year and as part of the process of standardization of prices of basic services, such as electricity and gas, launched by the administration of Mauricio Macri, Edesur proceeded to the gradual readjustment of its tariffs.
Enel's Controversy in Spain
Spain is another country where controversy has been raised about the actions of the Enel group. . There was a "dividend distribution" and a growth strategy for the group, unlike the minority shareholders, unions and workers of Endesa, under the control of the Enel group.
The electricity company Endesa belongs to the Enel group since 2009, which currently owns 70% of the Spanish company.
The group decided to distribute 100% of Endesa's profits and left no reserves for the investments and growth of this company. According to Endesa's strategic plan, published in 2017, 100% of its profits for 2020 will be distributed in the form of dividends. This will imply that in the next three years, the Italian multinational will use nearly 6,000 million euros.
Endesa workers 'and retirees' unions protested this year in front of the Italian embbady in Madrid, denouncing the "dump and spoliation" of Endesa by the Enel group, for the sole purpose of increasing their income, against the future of the Spanish company in which they do not invest. They also argue that these resources are used to lighten the Italian public debt, taking into account that the government holds about 25% of the Enel group.
Unions reported a drop in the number of jobs, which went from more than 11,000 to 8,789.
The Spanish news portal says the conflict has escalated since 2014, year of the arrival of the CEO of Enel, Francesco Starace, who has a more aggressive style.
Another litigation concerns Enel's control of the mark on all non-conventional renewable badets, including the hydroelectric plants owned by
.
Endesa (the mark Endesa is gone). Enel states that "the mark on all territories for renewable energies is Enel Green Power"
What Enel says
About the situation in Endesa, Spain, Enel's Communications Office responded: "Our Managing Director, Francesco Starace, has repeatedly denied any intention to sell Endesa."
The refusal of a sale is also reported in history.
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