Colombia names Electricaribe advisory panel, seeks Emcartago investor

The Colombian government has appointed an advisory panel to oversee an overhaul of debt stricken electricity distributor Electricaribe.

The five-member committee will be consulted on matters such as investments, customer service, billing and commercial strategies, public services regulator Superservicios said in a statement.

Superservicios took over Electricaribe's operations from Spain's Naturgy in April 2017 after ordering the company's liquidation amid collapsing power services in its distribution area.

The government suspended a sale process for the distributor in November after Italy's Enel was the only company to submit a valid offer.

A new call for bids is expected to be issued by mid-year, providing more attractive terms to investors.

Electricaribe serves around 2.5mn residential, commercial and industrial customers in Colombia's northern Caribbean region. Its operations include a 54,000km power line network and 196 substations.

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In related news, Superservicios outlined plans to contract a private operator for troubled state-run multi-utility Emcartago.

Under the plan, a 20-year concession agreement with strict terms that guarantee the company's long-term health would be awarded through a competitive bidding process, the regulator said in a statement.

The operator would be obliged to invest 86bn pesos (US$27.6mn) in infrastructure in addition to a 46bn-peso entry fee.

Emcartago provides energy, aqueduct and sewerage services in the city of Cartago, southwestern Colombia.