IC Power, the new owner of the electricity distribution company started operations on January 23 with a commitment to reduce energy losses in the country.
The multinational IC Power, a subsidiary of the Israeli company Kenon Holdings, completed the acquisition of the shares of Energuate, and went on to announce the start of its management and operations in the country from January 23. Luciano Galasso, Energuate's new manager, told Prensalibre.com that "... we are reinforcing our commitment to improving service quality, reducing energy losses, community relations and reducing accident rates."
The sustained fall in oil prices has led to record lows on the price paid by Guatemalan wholesalers for energy in the spot market.
The spot price paid by wholesalers in December went down by 12.5% compared to what was paid in the same month in 2014, totaling $41.55 per MW. According to the National Energy Commission (CNEE) and the Wholesale Market Administrator (AMM), it is the lowest amount paid in the last six years.
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It has been announced that IC Power will pay US $299 million for the companies Deocsa and Deorsa, plus another $289 million to cover the liabilities of these electricity distributors.
The promise of sale was announced by the company IC Power in December, and the transaction is expected to be finalised in January this year.
Guatemala is attracting investments in the energy sector because of the availability of natural resources, incentives to develop renewable energy projects, and its strategic position which allows the development of a foreign market.
From a statement issued by Agexport:
According to records from the Bank of Guatemala in the first half of 2015 $216.3 million entered the country and was allocated to this sector, which represents 39.4% of total FDI. According to the Observatory of Electric Power at the Competitiveness Department at AGEXPORT, most of these investments have been earmarked for power generation projects.
In Guatemala a tender is being launched for maintenance and improvement works on networks and electrical distribution lines in different areas of the country.
Planned investments in the electricity transmission grid and interconnections with its neighbors could position Panama as a regional power distribution center.
Added to the construction of the third transmission line, estimated at $300 million-and whose works are 49% complete according to an announcement in May by the Electricity Transmission Company - comes a fourth line, to be built on the Atlantic area of the country.
"The region still needs to install at least 7,000 MW by the end of the decade and make investments of between $12,000 million and $18,000 million."
While in Panama the energy supply needed to meet the demand of its growing economy falls short, to the north of the region, in Guatemala, there is surplus energy but generators are unable to sell it due to the lack of regulations governing the futures contracts and because the Siepac (Regional Electricity Transmission System) project is still does not working 100%.
In the tariff schedule from February to April and the EEGSA Social Rate and Non Social rate will go down by 10%, rates for Energuate and Deocsa will go down by 1%, and rates for Deorsa will go down by 7%.
With this adjustment, the new rates per kW / h will be; for EEGSA, $0.19, Deocsa $0.26, and Deorsa $0.25. These rates will come into effect for the period from February to April and it is expected that this trend will continue with the start-up of plants which are under construction, such as Jaguar Energy.
The intense media apparatus unleashed by solar panel producers should not make us avoid the necessary analysis of the real possibilities currently offered by this technology for homes.
In addition to the cost of purchasing and installing a solar panel, the climatic conditions of our tropical countries must be taken into account and the amount of energy this form of alternative energy produces during wet periods.
Although they have managed to link the last stretch of 32 kilometers which was missing from the electricity grid in the region, there is still not any regulation to define rates and market performance.
After several delays caused by problems related to easements and environmental claims, the construction and electrical connection of the 32 kilometers that were pending between the canton of Parrita and the district of Palmar in Osa, Costa Rica has been completed.
The state run power company estimated that starting May 2015 the cost of electricity will go down from $165 to $109 MW/h, as a result of its energy diversification.
The entry into force of contracts which were awarded in tender processes using the method of successive rounds will create a reduction of up to $56 MW / h, according to Jorge Alonso, manager of Empresa Eléctrica de Guatemala (EEGSA).
Analysis of the current state of the SIEPAC project and business opportunities in the region especially in electricity generation.
The Regional Electricity Market (MER by its initials in Spanish) is not only a key element to the growth and economic development of Central America, but also an important source of business opportunities for companies.
In the second half of 2013 the country sold 450.9 GWh to the region, nearly four times more than the amount exported in the same period in 2012.
The energy crisis affecting countries such as Honduras has forced them to increase dependence on imported energy from Guatemala, which has become the leading supplier in Central America.
An announcement has been made that the conditions for the tender for 574 kilometers of power lines will be released on July 31.
The work comprises of "... 29 new substations, expansion of 25 new lines and more than 12 adaptations, establishing 574 kilometers of electricity transmission, divided into 5 lots covering the national territory."
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