Tuesday, November 15, 2016

“Possession of Electricaribe is undefined”: Superservicios – Universal – Colombia

The superintendent of Public Services, José Miguel Mendoza, he made it clear that the intervention that is made to Electricaribe is indefinitely, but that in the first instance will be for two months, which may be extended until a definitive solution.

"At the moment the taking of possession is undetermined, we are going to serve to have a diagnosis of the company. And from that diagnosis, very briefly, for a period that brings the Law, we will determine if we should 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 to do that study, and today we begin to do so. Soon we will have news to where it will move that process," said Mendoza.

During the press conference said that the reasons for the intervention were, firstly, that the Superintendence considers that the financial situation of Electricaribe can take her to an "imminent cessation of payments and that that would severely impact the continued provision of the service of energy in the Caribbean Region".

Then he noted that another of the points that were taken into account was that Electricaribe "is not currently able to provide the service with the quality of its continuity due, which contrasts with that provided by other similar companies in the rest of the country."

"all of that is coupled with the constant complaints submitted by the users of the seven departments of the Coast, who live in a state of uneasiness permanent by the courts repeated the service of power," said Mendoza.

REMOVED THE BOARD of DIRECTORS

he Said that the possession that was made of Electricaribe was removed from his position as legal representative José García Sanleandro and the other members of the Board of Directors.

"we Also want to say that "they were suspended, until further notice, payments and obligations of the company with third parties. That does not mean that you should not pay, you are going to pay, but that will be until further notice."

he Indicated that he was appointed as a special agent Javier Lastra Fucaldo, who was deputy Superintendent of the Superintendency of Public Services and the Comptroller Delegate of the General Comptroller of the Republic, in the processes of companies as Inravisión, Telecom, Teleasociadas, Adpostal and the most recent, Termocandelaria.

"As the president of Electricaribe has been appointed Edgardo, Sojo Gonzalez, who has 30 years of experience in the electric power sector, colombian; he was president of Thermoelectric Barranquilla SA, has been president of the Intergremial of the Atlantic, among others. And in these moments it is exercising the management of the Plan5Caribe. We believe that with your experience will be a critical piece in the management of the business of Electricaribe," added Mendoza.

he Insisted that the intervention that is made to Electricaribe is quite complex and to do this they have resorted to expert international as well as the participation of Tetra Tech, a listed company in Nasdaq, with a major revitalization of companies of distribution and marketing of energy around the world.

"The president of Tetra Tech, Dean White, is located for several hours in Barranquilla, in the offices of Electricaribe analyzing the situation. We are confident that the experience that you have that company at the global level, put at the service of Colombia, and we may end up with the energy problem of the Caribbean Region", he said.

THE PERSONS

The Superintendent said, "we talked with a large part of the workers and told them the following: Electricaribe has not changed absolutely nothing. The company continues to operate, the workers are there, their contracts remain in effect, there will be no massacre of labour. We are beginning a process of possession, he has not taken any different decision to that. The only way for a solution is if the workers of Electricaribe put on the shirt with us. We need your assistance to take the company forward".

PROJECTS

On the projects that are in execution, the Plan5Caribe and developed by the Government with public resources standardization and the expansion of networks, the minister of Mines and Energy, Germán Arce Zapata, said that "still in execution. The Ministry started from the last week began tables of compliance to those jobs that were paralyzed and we have begun to see improvements in its execution of the same. All these investments will continue running. It is key in the implementation of long-term and that we can accomplish the implementation of the investment plan".

"We and the Ministry of Finance, we are working on the financial mechanisms that allow us to guarantee those investment plans. We are talking about minimum investments for 1.6 billion pesos, which was what ensured the Plan5Caribe for investment in the most critical parts of the system, giving a better service to users. That’s still part of the priority, manage the company by the Superintendency, because the idea is to ensure on the part of the Government that these investments are made in the medium term," added the Minister.

REMAINS THE OWNER

The minister Arce Zapata said that even though it has intervened to Electricaribe, Gas Natural Fenosa continues to remain the owner. "Simply that we do not reach an agreement in the negotiations and that’s why you came to this point of the intervention. That’s not to say that you have broken ships, broken bridges. The taking of possession does not change the property of the company, and we have to keep working and negotiating with them."

"it Is important to clarify that the intervention does not resolve by itself the problems of quality, it does not solve the problem of the ten years of lack of investment, but it is the way through which they can reorganize the company and start to reorganize and to restore the provision of the service," said Minminas.

he went on to say that Gas Natural Fenosa submitted a notification, "but we are not in a phase of lawsuits. We are still in the phase of the previous conversations. The person in charge of decision is the Minister of Trade, but I would like to ratify that we are not involved in a lawsuit, we are still in the process of negotiation, which was opened some weeks ago.

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