The manager of Empresas Públicas de Medellín (EPM) reported on January 25 that thanks to Hidroituango the price of energy fell in the last week.
In his message, Jorge Andrés Carrillo assured that the Ituango Hydroelectric, Hidroituango, represents energy security for Colombia.
According to the EPM manager, the foregoing would be demonstrated because with the commissioning of turbines 1 and 2 of Hidroituango, a great contribution would have been made to reduce the price of energy on the stock market.
As explained by Carrillo, in the third week of January the value of the kilowatt in the energy market was 526 pesos and yesterday it was already at 200 pesos, that is, a reduction of more than 60%.
Likewise, the EPM manager assured that the megaproject, which went through so many controversies until the day it started operating, is already contributing 600 megawatts to the National Interconnected System.
“As we have always said, #Hidroituango is the country’s energy security. The entry into operation of units 1 and 2 with 600 MW already had an impact on the price in the energy market: 8 days ago the value of the kW-h was $526 and yesterday it was $200 per kW-h”, he informed through his Twitter account.
XM, operator of the National Interconnected System and administrator of the wholesale energy market in Colombia, confirmed a couple of days ago the information shared by Carrillo about the current value of the kilowatt.
With the above, what is expected is that this reduction is reflected in the energy bills that reach Colombian homes.
It is noteworthy that by the end of last year the operator reported that another 25 power generation projects and 43 transmission projects came into operation. What is unknown is whether they also contributed to this decrease in value on the stock market.
Hidroituango is insured, as announced by EPM
Regarding this project, which is of great importance for the country and has not yet been completed, it is worth remembering that a few days ago Empresas Públicas de Medellín announced the renewal with the insurer Mapfre Seguros Generales de Colombia of the insurance coverage for the finished civil works of the Project Ituango Hydroelectric for a period of one year.
The policy insures the works of the landfill, the dam, the camps and the substation.
In addition to the continuity of coverage, it was possible to increase the insured limit of the policy, going from 100 million dollars to 200 million dollars and it is expected that once the first generation unit, the electromechanical equipment and the works come into commercial operation civil necessary for it, can be included in the policy.
The renewal process included a visit to the reinsurance market to present the progress in recovery and start-up. On the other hand, EPM also renewed with the insurer Seguros Generales Suramericana SA, the Extracontractual Civil Liability insurance coverage for the Ituango project, maintaining the limit of US$5 million, respecting the same technical conditions.
It is worth remembering that before this announcement it was learned that the Office of the Attorney General of the Nation was already investigating the mayor of Medellín, Daniel Quintero, and Jorge Andrés Carrillo, for the alleged omissions when buying all-risk insurance during the construction project. Hidroituango in 2021. With Infobae