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The mayor of Medellín, Daniel Quintero, assured that Empresas Públicas de Medellín (EPM) is analyzing whether or not it can continue with the process to start operating the company Caribbean Sea that would cover one of the two energy markets of the Caribbean Coast, in the departments of Sucre, Bolívar, Córdoba and Cesar.
“EPM is moving forward to see whether or not it can start operating Electricaribe. At this moment there is a negotiation that EPM is doing to know how much more the national government should give us for the value of Electricaribe, “said the mayor of the Antioquia capital, who is also the president of the EPM board of directors.
These statements were made since in the midst of the pandemic lhe Electricaribe indicators have deteriorated especially in what corresponds to the reacauto that surrounds 48% and energy losses that reach 38%.
The president said that there is a clause of adverse material effect also called the “Covid clause”, which has already been overcome by the deterioration of the indicators presented by Electricaribe in the midst of the pandemic, so EPM is in negotiations with the national government. “This is a very responsible clause that EPM included before the pandemic because this may make the project unviable at this time,” he said.
At a press conference offered in Medellín, Quintero said that EPM is studying what is the impact that the business has and what is the NPV (Net Present Value) lost and that “that is what it is going to ask the national government to reestablish the NPV that was lost due to the pandemic.”
The electricaribe splicing process, less than a month before the official delivery date, which is September 30, has focused on the issue of indicators and the impact on the business that they will assume on the one hand EPM and on the other, the Consorcio de Energía de la Costa made up of Enerpereira and Latin American Corp that will operate Carine Sol, in Atlántico, Magdalena and La Guajira.
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