The Treasury reported that the State has received the sum of 15,138,500 dollars so far this year for compensation payments for the insurance of natural gas.
The entity assured that the timely acquisition of the insurance has mitigated the impact of the 43.1% increase in the price of the natural gas since the beginning of the year and is part of the strategic measures it executes to guarantee budgetary stability in the face of the international increase in the price of oil derivatives.
As explained by the Treasury in a press release, the result of the coverage guarantees that the price of this fuel does not exceed 3.25 dollars MMBtu.
This contract signed in 2021 “was carried out in a staggered manner, covering 80% of the import of this fuel from May to December last year, 60% in 2022 and 40% next year,” the agency specified.
The price of natural gas It has increased by 101% since the contracting of this insurance and the coverage has allowed the Government to receive 51,147,957.94 dollars, assured the Treasury.
“The total claims represent 4.0 times the premium paid for the 2021-2023 period and mean extraordinary income of 38,355,957.97 dollars,” he asserted.
The natural gas it represents approximately 50% of the country’s power generation matrix, so “the contracting of the insurance has made it possible to mitigate the upward effect on the cost of power generation.”