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The statement of the Minister of Finance, Mauricio Cárdenas, and President Santos last week at the Andean Public Services Congress, on the existence of an agreement to eliminate the 25 percent limit on participation to the marketing of energy – as part of the adjustments to get the investor Electricaribe -, caused a strong controversy in the electricity sector.
According to El TIEMPO, yesterday, various unions in the sector told the Energy and Gas Regulatory Commission (Creg) its concern for the initiative, because in practice it would give almost 50% of a single agent market integrated in production, marketing and distribution (Codensa), which would be the only one that the regulatory adjustment would apply to make an offer for Electricaribe.
The above, because in the midst of an investment plan of 7.1 trillion pesos required by the 10-year distributor, Empresas Públ icas de Medellín (EPM) has not still made a final decision, because of the problems it faces with the project Hidroituango
The causes
The concern was that the Creg already published for the resolution of comments 068 of 2018, on the full and anonymous markets, but it is only one of the three pillars to be taken into account in the revision of the regulatory ceiling.
Yesterday, the entity indicated that the other two necessary factors would be the rules that, while allowing the participation of companies with high percentages of supply and demand also holds account of their impact on competition, price formation and market liquidity; and that they do not leave aside the systemic risk that would imply to have a single agent that agglomerates a large part of the market.
It is estimated that if Codensa (Enel group) took the Atlantic coast market and committed to investing a billion dollars, it could have 48% of marketing and the country's energy distribution (25 percent of its current market and 23 percent of the coast), also propelled by a significant share of output, which borders the 25 percent ceiling.
For Creg, it is also essential to have regulatory authority for the vigilant control of supervisory and control authorities, which can detect and punish conduct contrary to an effective operation. EL TIEMPO was able to establish that these rules and definitions of transparency so that the Superintendency of Public Services can act without fear of legal infringements up to now are being badyzed and are part of different aspects that the Creg has for its badysis.
"Things do not happen overnight," said one respondent. Therefore, it is not clear that the adjustments will be ready for the supply phase of Electricaribe, which the new government will have to do.
And while other sources indicate that the idea was given because Codensa (Enel) would be the only one that until now has shown interest in Electricaribe, the Creg showed the reasons for taking special care in the change.
According to the entity, although there is no restriction on participation in the distribution, there are trade restrictions because a distributor may be a distributor and this is not a regulated monopoly, but a competitive market.
And the situation worsens locally because, according to the Creg, "in Colombia, the situation is even more acute because the distributor is a distributor and, in some cases, also generator (it is that is, it's its own counterpart in the market). The same agent can determine prices in the chain without competitive pressure. The one who remains at risk is then the user, on which rests the power of the market. "
EDITORIAL ECONOMY AND ENTERPRISES
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