President Gustavo Petro’s order, broadly disseminated by all media, wherein he gave the Minister of Mines, Andrés Camacho, one month to take measures to scale back electrical energy service charges, has generated all types of reactions and has the pinnacle of that portfolio in suspense.
The request to Minminas was made by President Petro on May 7, 2024, within the metropolis of Barranquilla, which implies that we’re only a few days away from figuring out what components the nationwide authorities would use to decrease power prices. electrical energy, particularly within the Caribbean area.
President Petro’s proposal consists of the State paying a part of the power charges within the Caribbean area, as a result of this has been an issue that the residents of the northern a part of the nation have needed to take care of and that the excessive The president plans to unravel it in a month.
The concern has specialists from everywhere in the nation speaking, some in favor of the measure and others towards it who argue that it doesn’t have an effect on the so-called ‘losses’ or ‘restrictions’, designed just for the payments paid by coastal residents. For now, the one factor recognized is what was mentioned by Minister Camacho, who reported that the technique proposed by President Petro to scale back the general public service price is to vary the components that’s at the moment utilized, after explaining that households within the The Caribbean at the moment pays in its price “a debt that the earlier authorities left loaded in that worth.”
Petro is keen for the State to imagine that accountability and believes that on this means reduction could be offered to customers within the Colombian Caribbean, for which it proposes a course of of remodeling the formulation and that the debt charged to households “turns into in a debt securitization in order that the State takes cost,” because the minister defined. There can be speak of refinancing, however the Colombian president doesn’t like this concept.
It is important to keep in mind that this debt, referred to as the ‘tariff possibility’, which is paying the month-to-month electrical energy payments corresponds to the payments that had been stopped paying through the covid-19 pandemic, it’s a determine of 5 billion pesos .
Minister Camacho doesn’t have it straightforward as a result of complexity of the matter. Meanwhile, on the one hand, electrical energy entrepreneurs are attentive to the small print of what the cost course of for the tariff possibility that the nationwide authorities will make when assuming this debt can be; On the opposite hand, fiscal coverage specialists level out that it might be inconvenient to take action with the issuance of public debt and that the Government doesn’t have that competence. The dialogue is underway and the Minister of Mines and Energy’s deadline is operating out.
Independent of the authorized points and the fiscal capability of the State to imagine that debt – which isn’t buoyant with the autumn in collections, as a result of the economic system stopped rising, and the expansion of funds in 2024 and 2025 to the swollen debt contracted by the covid-, from these strains we recognize that the nationwide authorities is nearly belatedly placing its chest to the issue and that it has dared to let the bell on the cat. What would be the exact answer? It isn’t recognized, however what is evident is that Caribbean properties can not bear these electrical energy prices. Something must be carried out and really shortly.