Due to the increase in rates, Edesur quadrupled its operating profit

October 31, 2018 - By Joseph Taylor

The increase of the tariffs goes accommodating the numbers of the electrical companies, from the generators to the distributors. Edesur reported Tuesday that it had sales of $ 27,250 million in the first nine months of the year, 91% more than in 2017; the operating profit was $ 3,322 million, a 284% more and managed to leave behind the red and have a net profit of $ 473 million. Last year, I had a loss of $ 883 million.

“We are going through a normalization stage that allows us to increase investments to offer a better service,” said Nicola Melchiotti, country manager of Enel, the owner of Edesur.

As detailed by the company, the increase of $ 12,967 million or 91% in revenues was due to the application of the new tariff tables. Since February 2018, the “added value of distribution” has increased, which is the money that goes directly to cover the services provided by Edesur.

“As of February 1, 2018, the increase in VAD 2017 was defined in 48 installments until January 31, 2022. Additionally, as of August 1, 2018, the 50% application was agreed (7,925 %) of the increase corresponding to the VAD, recovering the remaining part in 6 installments as of February 1, 2019 “, he explained. The distributor sold the same amount of energy as last year, with 1.2% more customers.

The firm added that the investments increased 41% or $ 861 million “and were made in order to improve the quality of service with works in substations and high voltage cables.”

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