A weekend of intense negotiations not allowed to avoid what everyone knew was going to happen: the intervention of Electricaribe. It came to this situation, but have not burned the ships. The fear that assaults the leaders coastal is that this administrative procedure, be able to follow the destructive steps of owned emcali. "The conversation has been friendly between the shareholder and the State in the different phases of the process. The talks take several weeks", said the minister of Mines and Energy, Germán Arce, to explain that could not arrive at an agreement, which "does not mean that you have broken bridges." Gas Natural Fenosa continues as owner of the company, made it very clear to the minister, indicating that the takeover does not change that membership. "It is not considered that the above-mentioned intervention temporary of the colombian company have an impact on the net result nor on the cash flow (the difference between the collections and payments of a company during a given period) of Gas Natural Fenosa, not affecting its current dividend policy", stated the Spanish firm. (Read Government takes possession of Electricaribe)
Support guild
"we Protect energy to the Coast. Taking possession of Electricaribe, the best outlet to order company and guarantee service," said president Juan Manuel Santos on his Twitter account. The guilds of the electric power industry supported the decision, noting that it require actions with results ready and satisfactory for the users of the Caribbean coast. The Colombian Chamber of the Energy (Ccenergía) noted in a press report that it "supports the decision of the Superintendence of Public Services to intervene and take possession of Electricaribe and reiterates that such a procedure should result in an improvement in the adequacy, quality and reliability of the public service household electrical energy in the departments of the Caribbean Region". The president of Acolgén, Angela Montoya, indicated that it supported the decision but wait for the process to quit the best way, "because the decisions that are made in Electricaribe will be like a domino effect for the whole s ector". He noted that the generators have continued to supply energy, but "we need to ensure we the payment."
Reasons for decision
Electricaribe is facing a "imminent cessation of payments," said the superintendent of Public Services, José Miguel Mendoza, at the time of explain the reasons that led to the intervention of the electrificadora. Is not in a position to provide the service with the quality and continuity as required by the users.
The first effect of the takeover was the removal of the legal representative of the company of Spanish capital, Jose Garcia, and the principal members and alternates of the board of directors of Electricaribe. Debts to third parties were discontinued. He immediately appointed a special agent, Javier Lastra, who led the process of liquidation in Telecom, Teleasociadas, Inravisión and Termocandelaria. Edgardo Sojo González was in charge of the presidency of the company. He was an officer of the liquidated Corelca and president of the Power of Barranquilla. The president of the us firm Tetra Tech was responsible for providing the energy service to the users of the North Coast.
"The normalization of the provision of the service is complex and will take a long time", warned the official. "Today begins the journey for the service to improve, but it’s not going to be an easy road".
The taking of possession is undetermined, said the superintendent. "It’s going to serve to make a diagnosis of the company and from there we will determine if we enter into a process of taking possession to manage or liquidate the company." The law provides for an initial period of two months, extendable by another two. From that moment on, will announce the way forward. In Electricaribe "there will be no massacre job," said Mendoza.
According to Gas Natural Fenosa, "the colombian company have very strong tensions of the treasury, in consequence of the non-payment of a high number of customer bills in large part with supply mandatory". That sum amounts to eur 1.260 million euros. The minister of Mines and Energy acknowledged that the company has a high obsolescence in the networks. All of those ingredients led to Electricaribe to the degree of prostration in which it is located.
The president of Asocodis, Camilo Manzur believes that the solution to the problem must be comprehensive: investment by the network operator, regulatory signs that encourage investment, the State must present an alternative in issues of subsidies, tools that will help to prevent the fraud of power and mechanisms that seek to reduce the official debt and the users ‘ constitutionally protected. He noted that the Plan 5 Caribbean contributes to the solution, but it is not enough if it is not done comprehensively and quickly. "The coast requires a comprehensive solution and harmonica. A structural solution with long-term sustainability".
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