As this media learned, Pampa decided to exit the distribution segment to focus on two main businesses, which are gas production in Vaca Muerta, with an investment of u $ s250 million that join the GasAr Plan, and the closure of the combined cycle of the Ensenada Barragán thermal power plant that the company operates together with YPF, with other u $ s200 million investment. “All that is collected from the sale of Edenor will be invested in these two projects”, highlighted executives aware of the plans of the Marcelo Mindlin.
Edenor operates the largest electricity distribution network, due to its number of clients. Pampa Energía owns 56% in Edenor, which is estimated to have a market value of around u $ s160 million. The electrical firm has 3.2 million customers and represents approximately the 20% of the total electricity demand in the country.
In Pampa they assure that the detachment of Edenor It was not driven by the rate freeze during the pandemic, nor by the future plans of the national government to increase fine-tuned electricity bills. “It is a company with 15 years in Pampa. It was bought in 2005 and for a long time there were frozen rates and not for that it was sold, on the contrary, it was maintained, and when there was a recomposition of rates, and it was able to take profit, it was reinvested. For that reason it is not “, they sentenced before the consultation of Ambit.
In the market they remember that Pampa always has offers for its assets, but that in many cases they do not even transcend, because they do not reach formal offers. In this case, the intention of Vila, Manzano and Filiberti advanced.
In the last hours Edenor reported receiving almost $ 3,200 million from the national State in compensation for providing service to popular neighborhoods from 2017 to 2020, which was announced, will be used to maintain and sustain the quality of service and the electricity grid.
Once the intention to sell to the markets has been informed, the National Energy Regulation Entity (ENRE) will be notified, who must approve the assignment, and once that permission is obtained, the Pampa Energía assembly will meet to say goodbye to Edenor in the group.