Colombia allocates 900 billion pesos to energy distributors

This statement from the Ministry of Mines and Energy was translated from Spanish by an automated system

The Ministry of Mines and Energy ordered an advance of 50% of the payment corresponding to the fourth quarter for subsidies to energy rates.

In addition, it ordered the transfer of approximately 490 billion pesos to cover 100% of what corresponds to the third quarter of 2022.

MinEnergy. Bogotá, February 1, 2023. The Ministry of Mines and Energy reported that today the energy service marketing companies would be receiving close to 900 billion pesos in rate subsidies.

For the Vice Minister of Energy (e) Cristian Díaz, this announcement is very important because "it demonstrates the commitment of the National Government with the population, guaranteeing the electricity subsidies defined in the Law, which, in turn, represent the guarantee of flow of box for the companies, in order to be able to guarantee the energy service to the users and a safe and reliable operation”.

It is worth remembering that these resources, directed to companies, benefit members of households in strata 1, 2 and 3 of the country, who see this contribution reflected in their energy rates.

In this sense, the Entity explained that it ordered the payment of approximately 490 billion pesos, with which 100% of the debt would be covered by the third quarter of 2022, as well as an advance of 50% of the fourth quarter above the 400 billion pesos.

The total payment for the fourth quarter should be made in February, but the Ministry of Mines and Energy, considering the current situation of the trading companies, decided to make this advance.

With this disbursement, a balance of approximately 400 billion pesos would remain pending from the fourth quarter, the payment of which will depend on the subsidy liquidation process, once the companies report the complete information, whose regulatory deadline was until the day of yesterday, January 31, 2023.