“The Government Needs to Invest in Electricaribe”: Char

Electricity, Regulation & Policy    Sep 24, 2018 4:28 PM

During the Caribe Biz 2018 Congress, the mayor of Barranquilla, Alejandro Char, spoke about the problems of Electricaribe and their possible solution.

For Char, finding a definitive solution to the energy service issues in the Caribbean Coast depends on the government’s will to provide the resources that are required to save the firm.

“What we had before Electricaribe was a State-owned company that the government decided to sell to a private firm,” he said, adding that for a long time, Colombia’s Superintendence of Public Services failed to monitor the quality of the company’s service, El Heraldo reported.

Char recalled that for 12 years, Electricaribe did not perform maintenance routines to its networks or transformers, which deteriorated the system.

Now, he said, investments for CoP$7T are needed during the next 10 years.

“The government says hat the company needs to be sold, but who is going to give CoP$7T for it? The only solution is for the Nation to put its hand in its pocket and provide the resources, as it did it with the metro in Medellín and Bogotá,” he said.

Bottom-line: The Electricaribe ‘chicharrón’ (as a Colombian would refer to a big issue), seems to have no end.

Yes, the firm needs some serious investments to be able to function, but the million-dollar question is where the money will come from.

We do know one thing. It will not come from the Minister of Finance (MinHacienda).

 

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