As the worst mistake in the history of EPM. This is how Mayor Federico Gutiérrez Zuluaga described the entry into operation of the energy system in several departments of the Atlantic Coast through the subsidiary Afinia, which today presents huge losses due to the crisis experienced by the energy sector in the Caribbean region.
“The losses are huge and put EPM and its entire parent company at serious risk. They put the municipality of Medellín at serious risk because it depends, to a large extent, on the transfer of EPM’s profits (…) The question is how much more Afinia can give,” questioned Gutiérrez, clarifying that the intervention of AIR-E, the other service provider company in the region, shows that it is not a good business for EPM to continue with its subsidiary.
Given the situation, he made a proposal to the National Government so that, before it is too late or the provision of energy services is affected, Negotiated solutions are sought. One of them, said Gutiérrez, is the possibility that the Nation acquires 100 percent of Afinia’s shares. and take charge of the operation.
“We are willing to do so in a way that does not affect the provision of services,” the president added.
It’s not good business
Three years ago, when the Daniel Quintero administration decided that EPM would invest its resources in the creation of a subsidiary to provide services in some departments of the Caribbean region, after the intervention of the defunct Electricaribe, More than 2 billion pesos have been injected into Afinia, which has improved the provision of service to more than 1.7 million users.
However, EPM recognizes the complexity of the situation faced by the subsidiary, given the multiple causes and factors, most of which are external to the company.
“The difficult recovery of the collection indicators that reach 78.36% so far this year and of losses that are located at 27.86% in the last 12 months; The strong accumulation of the balance of the tariff option, which amounts to 1.5 billion pesos, a resource that must be transferred by the National Government; and the non-payment of the service of some official entities such as schools, hospitals, etc., which amounts to 290,000 million pesos; these and other additional factors have had a strong impact on the Company’s cash flow,” they reported in a statement.
2024-09-13 02:51:06
#Federico #Gutiérrez #proposes #selling #Afinia #National #Government
EPM medellín factura
Table of Contents
Afinia, a Subsidiary of EPM, Faces Power Crisis and Financial Losses
Afinia, a subsidiary of Empresas Públicas de Medellín (EPM), is facing significant financial losses and a power crisis in the Caribbean region of Colombia. According to the Mayor of Medellín, Federico Gutiérrez Zuluaga, the entry of Afinia into the energy sector in the region has been the “worst mistake” in EPM’s history [[3]].
Huge Losses and Risks
The losses incurred by Afinia have put EPM and its parent company at serious risk, and the municipality of Medellín, which relies on EPM’s profits, is also affected. The situation is further complicated by the crisis in the energy sector in the Caribbean region, which has led to a significant decline in Afinia’s financial performance.
A Proposal for Government Takeover
In light of this situation, Mayor Gutiérrez has proposed that the National Government acquire 100% of Afinia’s shares and take charge of the operation. This would enable the government to provide a solution to the crisis and ensure the continued provision of energy services to the region [[3]].
Background of Afinia
Afinia was created three years ago as a subsidiary of EPM to provide energy services in the Caribbean region, following the intervention of the defunct Electricaribe. Since its inception, Afinia has received over 2 billion pesos in investment, which has improved the provision of service to more than 1.7 million users [[3]].
Current Situation
Today, Afinia operates in the departments of Atlántico, Bolívar, and Magdalena, among others, and has offices in Cartagena de Indias, Bolívar [[2]]. However, the company faces significant challenges, including the difficult recovery of collection, which has been affected by various external factors [[3]].
EPM’s Involvement
EPM, which owns 87.4% of Afinia alongside its Panama-based subsidiary EPM Latam, has urged the government to take over Afinia to mitigate the losses and ensure the continued provision of energy services to the region [[1]].
Afinia’s financial struggles and power crisis in the Caribbean region have led to calls for government intervention to address the situation. The proposed takeover of Afinia by the National Government could provide a solution to the crisis and ensure the continued provision of energy services to the region.
References:
[1] https://www.bnamericas.com/en/news/epm-urges-afinia-govt-takeover-as-power-crisis-grips-northern-colombia
[2] https://www.waze.com/fr/live-map/directions/co/bolivar/cartagena-de-indias/afinia-grupo-epm?to=place.ChIJz8Bw3c8v9o4RD2WEHsBknIc
[3] https://www.facebook.com/photo.php?fbid=311542040701646&id=101284611727391&set=a.144446100744575&locale=fr_FR
EPM medellín factura
Afinia Grupo EPM: Understanding the Energy Giant’s Subsidiary and its Challenges
Afinia Grupo EPM, a subsidiary of EPM (Empresas Públicas de Medellín), is an energy company that operates in several departments of the Atlantic Coast in Colombia. Despite its efforts to provide quality energy services to over 1.7 million users, Afinia has been facing significant challenges, leading to huge losses and putting EPM and its parent company at risk.
The Birth of Afinia
Three years ago, the Daniel Quintero administration decided to invest EPM’s resources in the creation of Afinia, a subsidiary that would provide energy services in some departments of the Caribbean region. This decision was made after the intervention of the defunct Electricaribe. Since then, more than 2 billion pesos have been injected into Afinia, which has improved the provision of service to its users [[3]].
Challenges Faced by Afinia
However, Afinia has been experiencing a crisis due to the energy sector crisis in the Caribbean region. This has resulted in huge losses, putting EPM and its parent company at serious risk. The municipality of Medellín, which depends largely on the transfer of EPM’s profits, is also affected by this situation [[1]].
Proposed Solutions
Given the situation, Mayor Federico Gutiérrez Zuluaga has proposed that the National Government acquires 100 percent of Afinia’s shares and takes charge of the operation. This solution is seen as a way to mitigate the risks faced by EPM and its parent company, while ensuring that the provision of energy services is not affected [[2]].
Other Initiatives
Afinia has also been taking other initiatives to improve its services and reach its users. For instance, the company has a presence on social media platforms, such as Twitter and Facebook, where it engages with its customers and provides updates on its services [[1]][[2]].
Paying Bills Made Easy
Additionally, Afinia has made it easy for its users to pay their bills online, through its website or through third-party platforms. This has made it convenient for users to settle their bills from the comfort of their own homes [[3]].
Conclusion
Afinia Grupo EPM is an energy company that has been facing significant challenges due to the energy sector crisis in the Caribbean region. While the company has made efforts to improve its services and reach its users, it is essential to find a solution to the current crisis. The proposed solution of the National Government acquiring 100 percent of Afinia’s shares is a viable option that can help mitigate the risks faced by EPM and its parent company.
References:
