“Energy supply levels in the Caribbean region are lower than Africa’s”: General Comptroller

Regulation & Policy    Mar 25, 2020 2:13 PM

The General Comptroller will be in charge of monitoring the adjustment process of the companies that will now operate Electricaribe. This is what the entity said.

Comptroller Carlos Córdoba told La Republica that the entity is doing a special compliance audit to monitor the adjustment process of the new Electricaribe operators, making sure that the firms fulfill their obligations.

“We are focusing on monitoring the fiscal management of the resources allocated to finance authorized investments,” he said.

Cordoba added that energy supply levels in the Caribbean region are lower than Africa’s, t

aking into account that Electricaribe’s average duration of interrupted energy service reached 96 hours in 2016, and escalated to 120 hours in 2019.

“Energy prices have come very close to the limits of the scarcity price. If we consider that the energy purchase budget is close to 50% of the general budget, it will be clear that business management must focus on supplying energy for the regulated market, that is, the predominant household market in the region,” he added.

Bottom-line: The context of the Colombian Caribbean is complex because the region’s market does not have the investments it needs, which is directly linked to a ‘non-payment culture.’

Radical problems call for structural solutions; we hope for the arrival of new operators at CarbeMar and CaribeSol to be the best way out of the crisis.

See today’s ‘Electricaribe’s new operators’ article for more information.

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