50. Related parties

As an operator in the field of generation, distribution, transport and sale of electricity and the sale of natural gas, Enel carries out transactions with a number of companies directly or indirectly controlled by the Italian State, the Group’s controlling shareholder.
The table below summarizes the main types of transactions carried out with such counterparties.

Related party Relationship Nature of main transactions
Single Buyer Fully controlled (indirectly) by the Ministry for the Economy and Finance Purchase of electricity for the enhanced protection market
Cassa Depositi e Prestiti Group Directly controlled by the Ministry for the Economy and Finance Sale of electricity on the Ancillary Services Market (Terna)
Sale of electricity transport services (Eni Group)
Purchase of transport, dispatching and metering services (Terna)
Purchase of postal services (Poste Italiane)
Purchase of fuels for generation plants and natural gas storage and distribution services (Eni Group)
ESO - Energy Services Operator Fully controlled (directly) by the Ministry for the Economy and Finance Sale of subsidized electricity
Payment of A3 component for renewable resource incentives
EMO - Energy Markets Operator Fully controlled (indirectly) by the Ministry for the Economy and Finance Sale of electricity on the Power Exchange (EMO)
Purchase of electricity on the Power Exchange for pumping and plant planning (EMO)
Leonardo Group Directly controlled by the Ministry for the Economy and Finance Purchase of IT services and supply of goods


In addition, the Group conducts essentially commercial transactions with associated companies or companies in which it holds non-controlling interests.
Finally, Enel also maintains relationships with the pension funds FOPEN and FONDENEL, as well as Fondazione Enel and Enel Cuore, an Enel non-profit company devoted to providing social and healthcare assistance.
All transactions with related parties were carried out on normal market terms and conditions, which in some cases are determined by the Regulatory Authority for Energy, Networks and the Environment.

The following tables summarize transactions with related parties, associated companies and joint ventures outstanding at December 31, 2020 and December 31, 2019 and carried out during the period.

Millions of euro                      
  Single Buyer EMO ESO Cassa Depositi e Prestiti Group Other Key management personnel Total 2020 Associates and joint ventures Overall total 2020 Total in financial statements % of total
Income statement                      
Revenue from sales and services - 808 295 2,542 187 - 3,832 206 4,038 62,623 6.4%
Other income - - - - 1 - 1 9 10 2,362 0.4%
Financial income - - - - - - - 62 62 2,763 2.2%
Electricity, gas and fuel purchases 2,038 2,059 - 1,122 - - 5,219 166 5,385 25,049 21.5%
Costs for services and other materials - 38 3 2,728 44 - 2,813 145 2,958 18,298 16.2%
Other operating costs 6 183 - 9 1 - 199 3 202 2,202 9.2%
Net income/(expense) from commodity derivatives - - - 1 - - 1 - 1 (212) -0.5%
Financial expense - - - 13 - - 13 58 71 4,485 1.6%
                       
Millions of euro                      
  Single Buyer EMO ESO Cassa Depositi e Prestiti Group Other Key management personnel Total at Dec. 31, 2020 Associates and joint ventures Overall total at Dec. 31, 2020 Total in financial statements % of total
Statement of financial position                      
Other non-current financial assets - - - - - - - 1,144 1,144 5,159 22.2%
Non-current financial derivative assets - - - - - - - 21 21 1,236 1.7%
Trade receivables - 35 15 569 29 - 648 215 863 12,046 7.2%
Other current financial assets - - - - 1 - 1 189 190 5,113 3.7%
Other current assets - 9 84 63 2 - 158 6 164 3,578 4.6%
Long-term borrowings - - - 625 - - 625 359 984 49,519 2.0%
Non-current contract liabilities - - - 4 6 - 10 151 161 6,191 2.6%
Short-term borrowings - - - - - - - 21 21 6,345 0.3%
Current portion of long-term borrowings - - - 89 - - 89 19 108 3,168 3.4%
Trade payables 554 83 746 748 5 - 2,136 69 2,205 12,859 17.1%
Current contract liabilities - - - - 1 - 1 15 16 1,275 1.3%
Other current liabilities - - - 15 13 - 28 9 37 11,651 0.3%
Other information                      
Guarantees issued - 250 - 13 83 - 346 - 346    
Guarantees received - - - 157 36 - 193 - 193    
Commitments - - - 102 2 - 104 - 104    
                       
Millions of euro                      
  Single Buyer EMO ESO Cassa Depositi e Prestiti Group Other Key management personnel Total 2019 Associates and joint ventures Overall total 2019 Total in financial statements % of total
Income statement                      
Revenue from sales and services - 1,320 255 2,733 183 - 4,491 313 4,804 77,366 6.2%
Other income - - 5 1 - - 6 10 16 2,961 0.5%
Other financial income - - - 1 - - 1 87 88 1,637 5.4%
Electricity, gas and fuel purchases 2,661 3,009 4 1,372 - - 7,046 143 7,189 38,082 18.9%
Costs for services and other materials - 54 4 2,338 70 - 2,466 151 2,617 18,836 13.9%
Other operating costs 3 182 1 4 - - 190 45 235 2,693 8.7%
Net income/(expense) from commodity derivatives - - - 11 - - 11 - 11 (733) -1.5%
Financial expense - - 1 14 - - 15 31 46 4,518 1.0%
                       
Millions of euro                      
  Single Buyer EMO ESO Cassa Depositi e Prestiti Group Other Key management personnel Total at Dec. 31, 2019 Associates and joint ventures Overall total at Dec. 31, 2019 Total in financial statements % of total
Statement of financial position                      
Non-current financial derivative assets - - - - - - - 15 15 1,383 1.1%
Trade receivables - 45 15 573 13 - 646 250 896 13,083 6.8%
Current financial derivative assets - - - - - - - 8 8 4,065 0.2%
Other current financial assets - - - - - - - 27 27 4,305 0.6%
Other current assets - 23 89 69 1 - 182 1 183 3,115 5.9%
Long-term borrowings - - - 715 - - 715 - 715 54,174 1.3%
Non-current contract liabilities - - - 2 6 - 8 143 151 6,301 2.4%
Current portion of long-term borrowings - - - 89 - - 89 - 89 3,409 2.6%
Trade payables 601 92 793 726 18 - 2,230 61 2,291 12,960 17.7%
Current financial derivative liabilities - - - - - - - 8 8 3,554 0.2%
Current contract liabilities - - - - 1 - 1 38 39 1,328 2.9%
Other current liabilities - - - 16 9 - 25 5 30 13,161 0.2%
Other information                      
Guarantees issued - 250 - 354 164 - 768 - 768    
Guarantees received - - - 125 35 - 160 - 160    
Commitments - - - 9 4 - 13 - 13    


With regard to disclosures on the remuneration of key management personnel, provided for under IAS 24, please see Section I “Remuneration Policy for the Members of the Board of Directors, the General Manager, the Executives with Strategic Responsibilities and the Members of the Board of Statutory Auditors. Procedures for the Adoption and Implementation of the Policy” of the Remuneration Report published on the Enel website at https://www.enel.com/investors/governance/remuneration.

In November 2010, the Board of Directors of Enel SpA approved (and subsequently updated) a procedure governing the approval and execution of transactions with related parties carried out by Enel SpA directly or through subsidiaries. The procedure (available at https://www.enel.com/investors/bylaws-rules-and-policies/transactions-with-related-parties/) sets out rules designed to ensure the transparency and procedural and substantive propriety of transactions with related parties. It was adopted in implementation of the provisions of Article 2391-bis of the Italian Civil Code and the implementing regulations issued by CONSOB. In 2020, no transactions were carried out for which it was necessary to make the disclosures required in the rules on transactions with related parties adopted with CONSOB Resolution no. 17221 of March 12, 2010, as amended.