Presentation

Terna - Rete Elettrica Nazionale SpA is a major electricity transmissionElectricity transport and transformation activities along the interconnected high- and very high-voltage grid forthe purposes of delivery to customers, distributors, and recipients of self-produced energy. grid operatorThe natural or legal person who manages a power grid, also without owning said grid.. The name Terna derives from the three cables or groups of cables – i.e. “terna” in Italian – used to transport each of the three phases of the three-phase current in alternating current grids. Terna is an international Group and ranks as one of the world’s leading Transmission System Operators (TSOs) in terms of strategic assets. Its head office is in Rome, Italy. Most of its activities is in Italy and Brazil. Italy accounts for 87.7% of revenues, 97% of employees and 93.3% km of transmission lines (2007 figures). Terna does not produce nor distribute electricity to end users.

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The Organization in figures, as of December 31, 2007

Italy

Brazil

Group

Number of employees

3,495

107

3,602

Turnover in millions of euros (net of let-through lots)

1,182.0

166.2

1,348.2

Total capitalization - shares (millions of euros) (*)

 

 

5,474

km of lines

39,446

2,647

42,093

(*) Calculated on the average price of December 2007.

In Italy Terna is the main owner (over 98%) of the National Transmission Grid (NTG)Electricity grid for national transmission as set forth by the Minister of Industry Decree dated June 25, 1999and subsequent amendments and additions. for high voltage electricity, with 39,446 km of lines (445 km of which made of underground cable and 434 km of submarine cable) and 366 transforming stations (figures as of December 31, 2007). Under government concession, it is the Italian TSO and is responsible for the transmission and dispatchingThe activity aimed at issuing provisions for the coordinated use and operation of production plants, thenational transmission grid, the grids connected to the same, and ancillary services of the electricity system. of electricity along the high and extra-high voltage grid throughout Italy. It is also responsible for grid planningDefinition of the usage plans, for a specific period of time, for the available means of production andtransmission, in order to satisfy the energy requirements with respect to quality and continuity of service., construction and maintenanceOperations and works for the maintenance or recovery of efficiency, and smooth operation of the electricplants, taking into account any decrease in performance..

Terna’s current structure in Italy is the result of deregulation in the electricity sector, a process that began in 1999, when the tasks of system operator were assigned to GRTN, a state-owned enterprise. In November 2005, pursuant to the Prime Minister’s Decree dated May 11, 2004, Terna – which had been listed in the Italian Stock Exchange since June 2004 and was the owner of the main part of the National Transmission Grid – obtained the grid operator role from GRTN with relative human and material resources. Reunification of grid managementThe activities and procedures which determine the operations and the operations forecast, under anyconditions, of a power grid. Said activities and procedures include the management of electric power flows,interconnection devices and necessary ancillary services, as well as the decisions to perform maintenanceand development works. and ownership (with the exception for minor portions) also led to Terna’s independence from the Enel Group to which it previously belonged. In its relations with the markets, Terna presently enjoys full strategic and management autonomy, based on the technical and operational expertise that it previously acquired as a member of the leading Italian Group in the electricity sector: Terna stands for innovation and tradition, two values that play an important role in the Company’s developmentWorks on the electricity grid which lead to the adjustment or upgrading of the transport, transformation,connection and interconnection capacity, or an increase in operating flexibility of the grid, or the removal ofgrid elements. prospects.

Through its subsidiary RTL - Rete di Trasmissione Locale SpA, Terna also acquired portions of the national grid owned by other operators, gradually increasing its assets with the aim of achieving total grid control and operational scale economy . In particular, during the second half of 2007, RTL took over its subsidiaries RTM 1 SpA, RTM 2 SpA and the company RTT Srl that was acquired on June 30, 2007. In 2007, Terna also established the company inTERNAtional SpA to manage other activities abroad, which are not yet being carried out, in line with the group’s development strategy. In addition to owning RTL, inTERNAtional and Terna Participações, Terna also holds a 24.4% stake (4.6 million euro) in the share capital of CESI SpA, a company that sets up and manages laboratories for tests, trials, studies and research in the electro-technical and energy fields.

In Brazil, through its subsidiary Terna Participações SA, a company listed in the San Paolo Stock Exchange, the Terna Group fully or partially owns various companies operating in electricity transmission and related services in Brazil. On the whole, these companies own (as of December 31, 2007) over 2,647 km of electricity lines of the Brazilian National Transmission Grid (equal to nearly 8.5% of the total), for which they hold thirty-year concessions for grid planning, construction, operation, maintenance and development. The current structure was achieved through the incorporation of Terna Participações SA (April 2006), followed by the transfer of the shares of its subsidiaries and by Terna Participações’ listing in the San Paolo Stock Exchange in October 2006. After that, Terna Participações took over the control and shareholding of other companies and has established the company Terna Serviços.

Highlights: Italy, an electicity hub for the Mediterranean

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