Endesa accumulated impact of $ 135 million after cessation of Bocamina
The stoppage of thermoelectric cost to the company more than $ 630,000 a day. Next week the Supreme Court would appeals by communities from the resort.
After seven months since the courts ordered its standstill, in December 2013, the Bocamina II (370 MW) coal plant has become the major headache for Endesa.
The unit located in Coronel yesterday completed 214 days without operate, which has impacted the finances of the subsidiary Enersis, not only for what they have left to win, but that it be a central base in the Central Interconnected System (SIC ), its absence also affects the evolution of the marginal cost of energy.
In late February and from official information that gave the company, it was established that each day of stoppage of Bocamina II would cost about $ 633,000. From this company, the cumulative from December 17th would correspond to a lower contribution margin of $ 135.4 million.
To this must be added the additional cost Endesa would assume to buy power on the spot market to cover part of their contracts.
According to the system’s data, so far July marginal cost is at U.S. $ 225.1 per MW / h.
This plant, which is part of a complex, is the largest project of Endesa which began operation in recent years and represents about 5% of the daily demand of the SIC and next week would face a key moment from the standstill.
The Courts
For the next few days, possibly on Monday, the allegations in the Supreme Court of protection resources submitted by communities opposed to this project, are provided.
This is the last instance in which the judges of the Third Chamber of the Supreme Court will hear the parties, because after this they will resolve the merits of the action, which it is estimated would take at least a month.
People aware of these issues explains that here the post fault scenarios for Endesa will remain complex.
The Electrical Company also keeps opened a sanction process against its plant by the Superintendency of Environment (SMA), which should be resolved in the coming weeks, once completed the analysis stage of the arguments presented by the company before the environmental authority.
The role of government
Endesa has raised concerns about this issue at all levels of government, trying to find support from the authority to relocate the plant into operation again.
Also, last week the Enel’s CEO, Francesco Starace, criticized the way in which the generator company has faced the development of investment projects in the country, realizing the dissatisfaction that exists at the group level. –
But they are not alone. Among private recognize that how Endesa can resolve this conflict will define the development of new projects in the area, as the second unit of the complex Santa Maria, from Colbún, which already has environmental approval.
Endesa has been working on at least two lines of action: first, to establish economic development plans and compensation for communities affected by the plant, in order to improve its relationship with them.
In May, the company proposed a series of measures to “open dialogue” with communities, and announced that it would allocate resources for $ 13 billion (about $ 23 million) for the next 20 years to improve the living conditions of the the community Lo Rojas.
“Convinced that the community should participate in the value generated by the thermoelectric complex Bocamina, the contribution will be channeled through a Social Development Council of the Region and Coronel, for which Endesa Chile proposed that at least 70% of these resources is intended for residents of the Lo Rojas, “said the company at that time.
The use of resources should be decided by the board of the Council, which would be composed among others by “regional and municipal authorities, unions, neighborhood and Endesa Chile.”
“The funds are preferably oriented to expenditure and investment in education, environmental improvement, production equipment, training and equipment projects and urban improvement,” the company said.
To this are added the $ 10 billion already committed to the relocation plan of 700 new homes.
Government’s Monitoring
The second area of action by generating company has been to make the authority to see the social complexity that affects the area around the plant, and that could become a source of conflict.
Here, at La Moneda would have taken note of the issue. According to sources say, it would have commissioning monitoring of the situation to the Housing and Urban Seremi of Biobío, Jaime Arevalo, who have the mission to keep the government on progress.
This authority would also have met with representatives of the communities and fishermen in the area to hear first hand their demands and make them known to the central authority. A similar role would also be meeting the local director of Serviu, Francisco Merino.
Source: Diario Financiero
