Enel SpA (ENEL.MI), Italy 's largest utility, will end the year less indebted than it forecast, Chief Executive Fulvio Conti said in an interview Monday.

He told Italy 's Radio24 that he sees net debt at EUR40 billion ($53.6 billion), less than the EUR44 billion posted at the end of 2012.

In its third-quarter results last week, Enel said net debt at the end of September shrank to EUR43.99 billion from EUR44.52 billion three months earlier. At the time Mr. Conti said the Rome-based utility expects net debt for the end of 2013 to be lower than the EUR42 billion forecast.

Enel turned into Europe 's most indebted utility after taking over Endesa SA (ELE.MC) in 2007. Since then it has focused on reducing the debt level.
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