Company News May 19, 2021 5:12 PM
EPM presented its 2020 achievements with positive advances despite the pandemic.
The company redoubled its efforts to guarantee community access to public services in a timely manner amid the pandemic, according to a press release.
EPM started operations in the Caribbean region with Afinia, a subsidiary of the Group, advanced in the recovery of the Ituango Hydroelectric Project and innovated with new solutions.
“The organization was unconditional to face the pandemic, to quickly implement the government’s measures and its own, allowing people to have public services and maintain normal operations, even in the most complex moments due to social distancing measures,” EPM’s Jorge Andrés Carrillo Cardoso said.
The company highlighted the reinstallation and reconnection of power service to 23,000 homes, water service to 14,000 and gas to 11,000.
“At the end of last December, there was no suspension of service, nor cuts due to non-payment in 64,502 facilities,” EPM said.
EPM said that its DNA of service and quality came to provide electricity service to 1.5 million customers in the departments of Bolívar, Cesar, Córdoba, Sucre and 11 municipalities of the department of Magdalena with Afinia.
“Afinia’s investments will be around CoP$3.7T in electrical infrastructure – substations and lines, distribution networks and network assurance in the next five years,” EPM said.
The company said that investments will increase to CoP$8T in the next 10 years.
“These resources will translate into more development for the Colombian Caribbean, improvement in the quality of life and more job creation,” EPM said.
EPM said that the Ituango Hydroelectric Project (PHI) overcame challenges and reached milestones in reducing risks for the communities located downstream of the dam.
“In 2020, technical milestones were achieved with the manufacture of turbines, change of generators and other equipment affected by the contingency,” EPM said.
Bottom-Line: Not surprisingly, the report fails to mention that the company presented more twists and turns than an afternoon soap opera, seriously damaging its reputation as a well-run government entity.
EPM has to continue working on the Hidroituango project, as there is still much uncertainty about the entry into operation of this important facility for the country.
In addition, the corporate governance of the company was affected in 2020, so there are steps to be taken on this issue.