In the presidential address last Sunday, August 25,President Gustavo Petro stated that “Colombia is the only country in Latin America where the cost of energy is not regulated by the State. Companies can set the price of energy according to the market, which allows them to speculate”.
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This led to Six unions from the electrical sector from all links in the chain responded to Petro, pointing out that this is incorrect.
In the communication, signed by Andesco, Acolgén, Andeg, Asocodis, Naturgas and Ser Colombia, they said that laws 142 and 143 of 1994 established that the cost of the kilowatt would be defined by a formula proposed by the Energy and Gas Regulatory Commission (Creg).
The formula defined by This entity regulates all components of the unit cost, such as generation, transmission, distribution, marketing, among others. In the case of generation, they stated that “companies They offer prices in line with market and system conditions. which must be considered, such as the increasingly severe weather conditions affecting hydroelectric reservoirs, the increase in fuel prices and the delay in the entry into operation of the projects.“.
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The unions also reacted to other comments made by President Gustavo Petro in the speech. Another of the president’s statements was related to the fact that Companies in Colombia can produce energy at a low cost and sell it at a much higher pricelinked to rates that have to do with much more inefficient technologies.
In this regard, they stated thatand energy is mostly negotiated (80%) in long-term contracts, whose average price is $296 per kilowatt, while the remaining 20% is purchased through the stock market, whose average price, between July 2023 and July 2024, was $583.
“Prices in The energy exchange is based on technical and economic criteria that seek to guarantee sustainability of the energy system, and reflect market conditions“, they noted.
They also said that the entry of new projects is essential to increase market efficiency.
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They also reacted to Petro’s statement that few companies “They control and alter energy prices in their favor“saying that the tariff formula is precisely designed so that users receive efficient prices.
They stated that “We do not support conduct contrary to the Law, nor statements without support and without prior investigation, which is why We urge the National Government to carry out investigations and take appropriate action if any evidence of this is found.as appropriate“.
Finally, the unions called for solutions are built with accurate information and effective solutions: “Incorrect or imprecise statements generate a distortion of reality that generates discomfort in users, instead of creating efficient solutions in the short term.“.
PORTFOLIO
