TECO challenges Guatemalan tariff actionsWednesday, January 21, 2009 TECO Energy Inc. said earnings at its subsidiary in Guatemala have been cut following actions of a Guatemalan regulatory agency. As publish in bizjournals.com: "The subsidiary, TECO Guatemala Holdings LLC, has filed notice that it will file an arbitration claim against the Republic of Guatemala under the Dominican-Republic-Central America-United States Free Trade Agreement, or DR-CAFTA, TECO said in a filing with the Securities and Exchange Commission. In July, Guatemala’s National Electric Energy Commission unilaterally reset the distribution tariff for Empresa Eléctrica de Guatemala at levels well below the then existing tariff, the filing said. TECO Guatemala Holdings has a 24 percent interest in Empresa through a joint venture, and the action caused a “significant reduction” in earnings for the joint venture segment, the filing said." Guatemala offers exploration of hydrocarbons to EcopetrolFriday, August 15, 2008 Guatemala offered the possibility to explore (and to extract) six areas in the country for hydrocarbons (three for gas and three for petroleum). Officials from the National Competitiveness Program presented to Ecopetrol the potential for extracting hydrocarbons from these six areas. Authorities Open Bids for Guatemalan Electric NetworkMonday, December 14, 2009 From the three companies, the lowest-priced bid was submitted by EEB-EDM Proyecto Guatemala. The contract will be awarded on January 22, 2010, after the proposals are evaluated by energy authority CNEE. Guatemala Authorizes 100km2 Geothermal Power PlantTuesday, April 13, 2010 In a 100 square kilometer terrain, company U.S. Geothermal Guatemala will build a geothermal power generation plant. It was recently authorized by the Energy and Mines Ministry, and will be located in El Ceibillo, Amatitlán. TECO Guatemala Income Drops 17%Friday, August 14, 2009 Sales summed $21.1 million in the first half of the year, 17% less than the same period of 2008, when $25.4 million were sold. Statements presented to the U.S. Securities and Exchanges Commission report a $2.5 million reduction in net income, "as a result of the reduction of the Distribution Added Value (VAD), from the sale price...". Guatemala Oil Imports Up 53.9%Thursday, June 17, 2010 The country spent $968 million in oil between January and May 2010, 54% more than in the same period of 2009. According to Central Bank data, the figure was not as bad as in 2008, when Guatemala spent $1.1 billion in the same five months. Guatemala Extends Contract for Oil Company PerencoThursday, March 4, 2010 President Alvaro Colom endorsed a 15 year extension to Perenco’s crude oil extraction contract. The announcement was made by Carlos Meany, Energy and Mines minister, who explained that if the contract was not renovated, the State would lose $125 million a year. Electrical Interconnection Test SuccessfulTuesday, April 28, 2009 The tests for electrical interconnection between Guatemala and Mexico were done yesterday with positive results. Electrical interconnection will allow Guatemala to purchase 200 megawatts of energy from Mexico and vice versa. If necessary, Mexico could buy up to 70 megawatts from Guatemala. Fuel Supply Awarded for $34 millionFriday, December 12, 2014 In Guatemala a contract to supply fuel (diesel or gasoline) to be used by vehicles belonging to the National Civil Police was awarded to the company Puma Energy Guatemala S.A. The company Uno Guatemala S.A. also submitted a bid for the supply of fuel, for $34 million, the same amount of as the offer by Puma Energy Guatemala. Despite being for the same amounts, in the assessment the best score was obtained by the company Puma Energy Guatemala SA. Unión Fenosa Invests $1.2 Million in GuatemalaThursday, August 13, 2009 The Spanish transnational enabled a new electric substation in the Sololá department. The company announced in a press release: "Because of this project, electricity service will have better quality and availability in Panajachel, Santa Catarina Palopó, San Antonio Palopó, San Andrés Semetabaj, Santiago Atitlán and San Lucas Tolimán, Sololá". Guatemala – Mexico Interconnection Tests BeginMonday, April 27, 2009 Since yesterday, the first stage of electrical interconnection tests between Guatemala and Mexico are being carried out. The Minister of Energy and Mines of Guatemala, Carlos Meany, reported that the installation and insulation of the system is being checked. Guatemalan Power Grid Expansion to Start in MarchThursday, January 14, 2010 The consortium "EEB/EDM Proyecto Guatemala", who was awarded the contract through public contest, will start expanding the electrical power grid in March 2010. This consortium is composed by Mexican and Colombian companies, and will develop the project known as "PET" (Electrical Transmission Expansion Plan), by building 817.9 kilometers of electric power grid. Guatemala - Mexico Energy MarketMonday, June 11, 2012 Since the establishment of electrical interconnection, Mexico has billed Guatemala an average of $5.47 million a month. From October 2010 until March, Guatemala has paid Mexico on average $5.47 million a month for the sale of electricity, according to data from the Guatemala’s National Institute of Electrification (INDE). Empresa Electrica de Guatemala Being SoldTuesday, October 19, 2010 According to reports, the Spanish utility Iberdrola is in discussions to sell its shares in Empresa Electrica de Guatemala SA (EEGSA) to Colombian company Eléctrica de Medellín (EDM). Iberdrola's decision would be related to the reduction of tariffs in over 50% approved by the National Energy Commission (CNEE) in June of 2008. In November 2009, Iberdrola sued Guatemala with an international arbitration proceeding for $ 672 million, questioning the reduction. Fenosa awards $600 million contract for Guatemala power plant constructionWednesday, May 7, 2008 Spain's Unión Fenosa has awarded a $600 million contract for the construction of a 200-megawatt coal-fired power plant in Guatemala to Jaguar Energy, a local unit of Ashdown Energy International. Fenosa said in a statement that the new plant would enable its distributors in Guatemala to ensure power supplies in the long term. |
|