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Enel Q1 Power Generation Rises as Thermal Output Offsets Hydro Decline

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-- Enel reported Q1 earnings Thursday, showing total production of 51.1 terawatt-hours, up 1.8% from 50.2 TWh a year earlier.

Total renewables production stayed roughly the same at 31.7 TWh, while nuclear generation declined 4.4% to 6.8 TWh in Q1 from 7.1 TWh a year earlier.

The company reported a 5.3% decline in hydro generation to 13.8 TWh, compared with 14.6 TWh a year earlier.

Total wind generation rose 4.3% to 11.9 TWh for the quarter, up from 11.4 TWh a year earlier.

Generation from solar and others was 4.8 TWh, up from 4.4 TWh a year earlier, while geothermal production for the quarter was down 1.9% to 1.3 TWh.

Total thermal generation climbed 17.1% to 9.2 TWh for the quarter ended March 31, up from 7.9 TWh a year earlier.

Coal generation fell 74% to 123 gigawatt-hours, while combined-cycle gas turbine generation was up 28.5% to 7.8 TWh. Oil and gas generation declined 2% to 1.3 TWh.

Enel generated 25.5 TWh of electricity in Europe during Q1, led by 16.9 TWh in Iberia and 8.6 TWh in Italy.

Generation in the US reached 7.1 TWh during the quarter, while Canadian operations produced 0.4 TWh.

Latin America and other markets generated 14.8 TWh in Q1, including 5.4 TWh in Chile, 4.4 TWh in Colombia and Central America and 3.7 TWh in Brazil.

Total electricity distributed in Q1 was 120.9 TWh, up from 117.4 TWh a year earlier, as Italy's distribution volumes rose to 53.3 TWh from 51.8 TWh a year earlier.

Electricity distribution in the Iberia segment increased to 35.8 TWh in Q1 from 34.4 TWh a year earlier, while Latin America distribution volumes rose to 31.9 TWh from 31.2 TWh.

Total electricity sales declined to 59.2 TWh in Q1 from 63.8 TWh a year earlier.

Gas sales declined to 2.4 billion cubic meters in Q1 from 2.5 bcm a year earlier, while total gas customers remained broadly stable at 5.7 million.

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