Company News Dec 16, 2021 6:48 PM
EPM announced its budget for next year.
The company will have a budget of CoP$21.8T, which will be largely allocated to the development of infrastructure projects and social initiatives, La Republica reported.
EPM’s Jorge Carrillo said that the budget is a commitment to the community and its quality of life.
“Thanks to this, we will invest in infrastructure, generations of today and tomorrow will be able to receive water, sanitation, energy and gas services in adequate conditions,” Carrillo said.
The company informed that this budget includes resources for the construction of Hidroituango, with the goal of starting to generate energy with its first two turbines in the second half of 2022.
In addition, the budget includes the resources required for the operation and investments in each of the organization’s segments: generation, transmission and distribution of energy, gas, water supply, wastewater and others.
“The estimated transfers to Medellín are CoP$1.8T and the expected payment of taxes, fees and contributions are about CoP$1T. These resources will leverage the financing of local and national plans and programs, contributing to the wellbeing of the communities,” EPM highlighted.
EPM explained that the financing of the 2022 budget will be made with current revenues from public services provided for energy, gas, water and wastewater supply for CoP$11.4T (53%); insurance payments for CoP$2.9T (13%), credits for CoP$3.4T (16%) and the remaining value (18%) corresponds to dividends received from subsidiaries, portfolio recovery, initial cash balance, among others.
Bottom-Line: EPM’s budget generates great expectations, as this can be key to advance in the works for Hidroituango and other programs.
However, the company needs to show with real actions and progress to get out of the crisis and uncertainty that currently surrounds it.