Alessandro Di Vito • Mediobanca

Question 1

Alessandro Di Vito's questions to Enel Chile SA (ENIC) leadership • Q4 2024

Feb 27, 2025

Question

Alessandro Di Vito asked about Enel's potential liability for a recent systemic blackout, the conservatism of its 2025 hydro output forecast, the specifics of its new battery operations including IRR, and for confirmation of its 2025 guidance.

Answer

CEO Giuseppe Turchiarelli clarified that Enel is not liable for the blackout as it originated in the transmission system. He confirmed the 10.7 TWh hydro forecast is a conservative 10-year average, with updates expected by June. The new battery projects are hybrid with double-digit IRRs. He also confirmed the 2025 guidance presented at the last Capital Market Day remains unchanged.

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Question 2

Alessandro Di Vito's questions to Enel Chile SA (ENIC) leadership • Q2 2024

Jul 25, 2024

Question

Alessandro Di Vito asked about the dynamics of the PEC stabilization mechanism receivables, the financial impact of recent and upcoming distribution tariff reviews, and whether the 2024 guidance is conservative given the increased hydro generation forecast.

Answer

CEO Giuseppe Turchiarelli explained that the $1 billion PEC receivable is influenced by the USD/CLP exchange rate and will be recovered through 2027, with a significant factoring event expected in 2024. He clarified that the recent tariff impact was from the 2020-2024 cycle and confirmed the company remains comfortable within its 2024 guidance range, pending further hydrological data.