UPDATE 1-Endesa Chile net profit up 45 pct in 2009

* Endesa profit surges as generation costs fall

* Lower fuel prices and use for generation boost result

SANTIAGO, Jan 27 (BestGrowthStock) – Chile’s leading electricity
generator Endesa Chile (END.SN: ) (EOC.N: ), on Wednesday reported
a 45 percent jump in 2009 net profit compared with 2008, as
rains boosted hydroelectric output and cut production costs.

Endesa, a unit of Chile-based regional energy group Enersis
(ENE.SN: )(ENI.N: ), had a net profit of 627.053 billion pesos
($1.238 billion) for full-year 2009.

“Consolidated costs of provisions and services (operating
costs) totaled 976.146 billion pesos by end-2009, a drop of
25.2 percent compared to 2008,” Endesa said in its earnings
statement.

“Reduced use of fuel for thermal generation, mainly in
Chile and Peru, as well as lower fuel prices and reduced
purchases of electricity explain the fall,” it added.

It said generation costs in Chile alone fell 41.3 percent
as rains boosted hydroelectric reservoir levels, allowing it to
cut fuel and energy purchases.

Chile’s Enersis, the Latin American investment arm of
Spanish energy group Endesa (ELE.MC: ), reported separately that
its own net profit rose 30.1 percent in 2009 from a year
earlier. [ID:nN27227738]

Enersis cited a better performance by its generation and
transmission businesses.
($1 = 506.43 Chilean pesos at the end of December)

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(Reporting by Antonio de la Jara; Editing by Simon Gardner and
Maureen Bavdek)

UPDATE 1-Endesa Chile net profit up 45 pct in 2009