UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G

                    Under the Securities Exchange Act of 1934

                                (Amendment No. 2)



                                   ENEL S.p.A.
                                (Name of Issuer)


              Ordinary Shares, nominal value euro 1.00 Per Share
                         (Title of Class of Securities)


                                    29265W108
                                 (CUSIP Number)


                          July 7 and November 23, 2005
               (Date of Events Which Require Filing of Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

                  |_| Rule 13d-1(b)
                  |_| Rule 13d-1(c)
                  |X| Rule 13d-1(d)









CUSIP No. 29265W108

- --------------------------------------------------------------------------------
1.       NAME OF REPORTING PERSON: The Republic of Italy, Ministry of Economy
         and Finance I.R.S. IDENTIFICATION NO. OF ABOVE PERSON:
- --------------------------------------------------------------------------------
2.       CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP       (a)   |_|
                                                                (b)   |X|
- --------------------------------------------------------------------------------
3.       SEC USE ONLY

- --------------------------------------------------------------------------------
4.       CITIZENSHIP OR PLACE OF ORGANIZATION: The Republic of Italy

- --------------------------------------------------------------------------------
                           5.   SOLE VOTING POWER
                                1,944,990,734 - 31.59%
       NUMBER OF
         SHARES            6.   SHARED VOTING POWER
      BENEFICIALLY              - 0 -
        OWNED BY
          EACH             7.   SOLE DISPOSITIVE POWER
       REPORTING                1,944,990,734 - 31.59%
         PERSON
          WITH             8.   SHARED DISPOSITIVE POWER
                                 - 0 -
- --------------------------------------------------------------------------------
9.       AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
         1,944,990,734

- --------------------------------------------------------------------------------
10.      CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
         SHARES*|_|

- --------------------------------------------------------------------------------
11.      PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
         31.59%

- --------------------------------------------------------------------------------
12.      TYPE OF REPORTING PERSON
         OO

- --------------------------------------------------------------------------------









Item 1(a).        Name of Issuer:

         ENEL S.p.A. ("ENEL")

Item 1(b).        Address of Issuer's Principal Executive Offices:

         Viale Regina Margherita, 137
         00198 Rome, Italy

Item 2(a).        Name of Person Filing:

         The Republic of Italy, Ministry of Economy and Finance

Item 2(b).        Address of Principal Business Office, or if None, Residence:

         Via XX Settembre, 97
         00187 Rome, Italy

Item 2(c).        Citizenship:

         The Republic of Italy

Item 2(d).        Title of Class of Securities:

         Ordinary Shares, nominal value euro 1.00 per share
         (the "Ordinary Shares")

Item 2(e).        CUSIP Number:

         29265W108

Item 3. If this statement is filed pursuant to ss.ss.240.13d-1(b) or
240.13d-2(b) or (c), check whether the person filing is a:

(a) |_|  Broker or dealer registered under section 15 of the Act
         (15 U.S.C. 78o).

(b) |_|  Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

(c) |_|  Insurance company as defined in section 3(a)(19) of the Act
         (15 U.S.C. 78c).

(d) |_|  Investment company registered under section 8 of the Investment
         Company Act of 1940 (15 U.S.C. 80a-8).

(e) |_|  An investment adviser in accordance with ss.240.13d-1(b)(1)(ii)(E);

(f) |_|  An employee benefit plan or endowment fund in accordance with
         ss.240.13d-1(b)(1)(ii)(F);

(g) |_|  A parent holding company or control person in accordance with
         ss.240.13d-1(b)(1)(ii)(G);

(h) |_|  A savings associations as defined in Section 3(b) of the Federal
         Deposit Insurance Act (12 U.S.C. 1813);

(i) |_|  A church plan that is excluded from the definition of an investment
         company under section 3(c)(14) of the Investment Company Act of 1940
         (15 U.S.C. 80a-3);

(j) |_|  Group, in accordance with ss.240.13d-1(b)(1)(ii)(J).

Item 4.           Ownership.

     (a) Amount beneficially owned:

         1,944,990,734 Ordinary Shares

     (b) Percent of class:

         31.59%

     (c) Number of shares as to which the person has:

         (i)   Sole power to vote or to direct the vote: 1,944,990,734

         (ii)  Shared power to vote or to direct the vote: - 0 -

         (iii) Sole power to dispose or to direct the disposition of:
               1,944,990,734

         (iv)  Shared power to dispose or to direct the disposition of:- 0 -

Item 5.          Ownership of Five Percent or Less of a Class.

         Not applicable.

Item 6.         Ownership of More than Five Percent on Behalf of Another Person.

On December 12, 2003, the Republic transferred 627,528,282 ordinary shares,
representing 10.19% of the shares of ENEL as of the date hereof, to Cassa
Depositi e Prestiti S.p.A. ("CDP"), a corporation that was wholly-owned by the
Republic at that time, and which has been historically responsible for promoting
local development and managing postal savings instruments.

The number of ENEL shares reflected in this statement of beneficial ownership
includes all the shares transferred to CDP on December 12, 2003. The filing of
this statement, however, is not to be construed as an admission that the
Republic is, for purposes of Section 13(d) or 13(g) of the Securities Exchange
Act of 1934, the beneficial owner of any of the 627,528,282 Ordinary Shares
transferred by the Republic to CDP. Also in December 2003, the Republic sold a
30% stake in CDP to 65 Italian banking foundations. As of the date hereof, the
Republic retains a 70% shareholding in CDP, and accordingly, has the power to
direct the receipt of its proportionate share of the proceeds from the sale of
the shares of ENEL owned by CDP.

Item 7.         Identification and Classification of the Subsidiary Which
                Acquired the Security Being Reported on by the Parent
                Holding Company or Control Person.

         Not applicable.

Item 8.         Identification and Classification of Members of the Group.

         Not applicable.

Item 9.         Notice of Dissolution of Group.

         Not applicable.

Item 10.        Certification.

         Not applicable.







                                    SIGNATURE

   After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.


                                February 13, 2006

                                The Republic of Italy
                                Ministry of Economy and Finance


                                By:    /s/ Dario Scannapieco
                                       ---------------------
                                Name:  Dott. Dario Scannapieco
                                Title: Director General, Treasury Department