Thus, a delay of four months has accumulated to such an extent that if the trading system had been reworked in a normal way, the company had invoiced the consumption from July and August 2018 inclusive, and today the process is reached by the end of the period. March-April 2018
For this reason, in order to normalize the collection without affecting the individual economy of each user, it is considered appropriate to proportionate the invoices for the deferred months for twelve months without any interest being charged. Each period is divided into three installments, each of which is pre-included in the September 2018 periods (one third of the months until completion) without adding any additional fee, that is, historical values.
It is noted that Secheep acquires energy, which contains the cost of generation, the price of the wholesale market and the transport until its arrival in the province and then distributed to the consumers. Therefore, it does not determine the price of the energy it receives.
Financial vision of pending claims
From a financial point of view, it can confirm that for the energy already supplied and consumed by consumers in the period from May to August 2018, the energy company has receivables of the order of 1 493.8 million dollars; to which should be added, which refers to September and October of $ 1,002.90. In this way, we can point out that electricity bills received and used by consumers amounted to $ 2,496.80 million for a total payout period of 12 months.
Recognized costs and credits recognized by CAMMESA
As there was a delay in the above-mentioned debt recovery process, the company was unable to pay the payments to the wholesale company and this situation led to a financial imbalance due to the difference between the CAMMESA invoice maturity date and the date of expiry of settlement invoices during the specified period.
This situation, which dates back to January 2018, motivates the wholesale company to impose heavy penalties, which, among other concepts, meant a reduction in the Social Charges Bonus and the Mora Mone Tree Monetization Plan, $ 626.4 Million until 30 September 2018 (30/30/18).
Gross growth rates are applied by the nation
It is worth remembering that as of February 2016, the National Executive has implemented a sharp reduction in subsidies for electricity generation, which has led to a steady increase in wholesale energy costs to be paid by distributors of the country SECHEEP.
Thus, in December 2015, the total wholesale price for Chaco was 77.2 dollars / MWh, and in August reached a value of 1,660.4 / MWh, resulting in an increase of 2,050%, values that are transferred to the consumer's invoice and where Secheep does not participate in the formation of production and transport costs.
Standardization of payments
For various reasons, which require the payment and cancellation of debts with a wholesaler of electricity, they are basically the ones to avoid the heavy penalties that have been received.
In this sense, it is essential to obtain credit participation and to normalize the financial equilibrium of the company, which has a future with sufficient resources to fulfill these commitments once its debts are fully recovered over time.
For information, it is briefly stated that concepts related to this exigible credit process include the remainder of the 02 to 09/18 period; interest rates applied by Cammesa, outstanding payments on payment plans for 2016, and late payments from October to December 2018, which would make it easier to collect and financial normalization. All of these concepts, including a recovery of the social rate, will reach approximately $ 4,128.8 million.
The rise in wholesale prices has an impact on local invoices
Starting February 2016, a process of eliminating electricity subsidies from Nación has been implemented, affecting the country's distributors and therefore end-users.
It is noted that in December 2015 Chaco's total wholesale cost is $ 77.2 per MWh, reaching 1,660.4 / MWh in August, an increase of 2,050%
This large increase directly affects Argentina's distribution companies and therefore all consumers who saw this significant increase in the cost of invoiced bills for consumption.