Enersis

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Enersis S.A.
Sociedad Anónima
Traded as BCS: ENERSIS
NYSEENI
BMADXENI
Industry Utility
Founded 1889
Headquarters Santiago, Chile
Key people
Jorge Rosenblut, (Chairman)
Luigi Ferraris, (CEO)
Products Electricity generation and distribution
Revenue Increase US$ 12.6 billion (2013)
Increase US$ 1.3 billion (2013)
Number of employees
11,301
Parent Enel
Subsidiaries Endesa (Chile) , Chilectra, Ampla, Codensa, among others
Website www.enersis.cl

Enersis is one of the main privately owned multinational electric power corporations in South America, with operations in five countries: Argentina, Brazil, Chile, Colombia, and Peru. It currently holds direct and indirect participation in electric power generation, transmission, and distribution businesses.

The Enersis Group generating companies had an installed capacity of 14,832 MW, and through the distribution companies they supplied electricity to near 13.7 million customers, or approximately 45 million inhabitants.

The controlling shareholder of Enersis is Enel Energy Europe, which holds 60.62% ownership.

History[edit]

On June 19, 1981, Compañía Chilena de Electricidad S.A. was reorganized into a parent company and three subsidiaries. One of these was Compañía Chilena Metropolitana de Distribucion Electrica S.A. In 1985, under the Chilean government's privatization policy, the process of transferring the share capital of Compañía Chilena Metropolitana de Distribucion Electrica S.A. to the private sector was begun, ending finally on August 10, 1987. In this process, the pension fund management companies (AFPs), company employees, institutional investors, and thousands of small shareholders joined the Company. Its organizational structure was based on activities or operative functions whose results were evaluated functionally and its profitability was limited by a tariff structure as a result of the Company's exclusive dedication to the electricity distribution business.[citation needed]

In 1987, the company's board proposed forming a division for each of the parent company's activities. Four subsidiaries were therefore created to be managed as business units each with its own objectives, thus expanding the company's activities toward other non-regulated activities but linked to the main business. This division was approved by the extraordinary shareholders meeting of November 25, 1987 which defined its new corporate objects. Compañía Chilena Metropolitana de Distribucion Electrica S.A. thus became an investment holding company.[citation needed]

In August 1988, as resolved at the preceding shareholders meeting in April 1988, one of the companies born from the division changed its name to Enersis S.A.[citation needed] Also in 1988, to meet its development and growth needs, the company was split into 5 business units which in turn gave birth to five subsidiaries:

  • Chilectra and Río Maipo were responsible for electricity.
  • Manso de Velasco concentrated on electrical engineering and construction services and real-estate management.
  • Synapsis in the area of information technology and data processing.
  • Diprel focused on providing procurement and commercialization of electrical product services.

In 2002, company expanded into telecommunications, information technology, and internet trading businesses.[citation needed]

In October 2014, after Endesa was acquired by Enel, Enersis SA became controlled by Enel.

Operations[edit]

Enersis is one of the largest private electricity groups in Latin America in terms of consolidated assets and operating revenue. It is engaged in generation, transmission and distribution.[citation needed]