Significant Events Occurring Since December 31, 2005
Edison - Stefano Bollino Reelected Joint Representative of the Holders
of Savings Shares
In February, the holders of Edison Spa savings shares met in a Special Meeting, convened on the first calling, and reelected Stefano Bollino as their joint representative. Mr. Bollino was elected for a term of three years. Consequently, he will remain in office until the date of the Shareholders' Meeting convened to approve the financial statements for the year ended December 31, 2008.
Edison Inaugurates a Wind Farm in Ripabottoni
In February, Edison commissioned the Ripabottoni Wind Farm. Located in the province of Campobasso, this new facility will have 24 aerogenerators with a total generating capacity of 16 MW. They will produce 32 million kWh, enough electricity to meet the needs of 16,000 households. The technology used at Ripabottoni is based on three-blade aerogenerators with a generating capacity of 0.66 MW per unit. Construction of the facility took six months and required an investment of 20 million euros. The installation of the wind generators was carried out with the utmost respect for the local landscape and existing activities. The Ripabottoni facility brings the number of Edison wind farms to 24. Their total installed capacity is almost 260 MW, 60 MW of which were brought on stream in the last two years.
Edison - Future Acquisition of EDF Italia
In February, Edison's Board of Director authorized the Chief Executive Officer to negotiate the purchase of EDF Italia's operations. In 2005, EDF Italia, which is active in the deregulated market for electric power, sold a total of 8 Terawatt-hours to a broad range of industrial and residential customers.
This acquisition is consistent with Edison's strategy of maximizing available commercial and structural synergies with its industrial shareholders. The purchase of EDF Italia is expected to close once it is approved by the regulatory authorities, presumably by June 30, 2006.
Milan, February 21, 2006
The Board of Directors
by Giuliano Zuccoli
Chairman
Scope
of Consolidation
at December 31, 2005