Secheep explains billing, purchased energy costs and credit risks



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Consequently, the four-month delay was such that, if the commercial system were to be treated in the normal manner, the company should have been down until the July and August 2018 consumption, and now the process has ended until the end of the period. March-April 2018.

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Therefore, in order to normalize collection without affecting the individual economy of each user, it was considered appropriate to divide the invoices of the delayed months over a period of twelve months without charging any benefit. Each section was divided into three batches that were included in September 2018 (one-third from that month until its completion) without adding any additional fees, ie historical values.

It is emphasized that Secheep acquires energy that includes the cost of production, the wholesale costs of the wholesale market and transport until they arrive in the province and then distributed to users. Therefore, it does NOT specify the amount of energy charges it receives.

Financial Overview of Delayed Receivables

From an economic point of view, it can confirm that the energy company has receivables of $ 1 493.8 million in energy consumed and consumed by energy users between May and August 2018. which must be increased by September and October months to $ 1,002.90. In this way we can emphasize that the receivables of electrical equipment supplied and used by users total EUR 2 496,80 million over a 12-month payment period.

Costs and credits recognized by CAMMESA

Given the delay in the abovementioned collection process, the company did not have the opportunity to pay for wholesale debit payments, which caused financial imbalance because the due date of the invoice was different and the expiration date of the Secheep invoices.

This situation, which dates back to January 2018, has motivated the wholesaler to engage in heavy penalties, inter alia, to reduce the benefits of the Social Security Contribution and the Secheep Stimulus Plan and Moras. $ 626.4 million until September 30, 2018 (30.9.18).

Wholesale subsidies applied by Nation

It should be recalled that the National Executive Power from February 2016 has been heavily applying subsidies for electricity generation, which led to a steady increase in wholesale energy costs. which is SECHEEP.

Chaco's wholesale price, therefore, was $ 77.2 / MWh in December 2015, reaching $ 1,660.4 / MWh in August, up by 2.050 percent, the values ​​that were passed on to a user's invoice and where Secheep did not participate in production and transportation costs.

Payment Normalization

For a variety of reasons, which require payment and cancellation of debts with a wholesale wholesaler, they are basically those who avoid heavy penalties.

In this respect, it is necessary to obtain credit risk and to normalize the future financing of the future, which has the resources to fulfill these commitments when its liabilities are covered at all times.

According to the information, it is briefly said that the concepts included in the credit process necessary for this purpose include the remaining balance for the period 02-09 / 18; The interest rates applied by Cammesan until payments for payments made in 2016 and advances paid between 2018 and December 2018, which would facilitate collection and economic normalization. All these concepts, including the rise in the social interest rate, are approximately $ 4,128.6 million.

Wholesale adds this effect to local billing

Since February 2016, Nación has introduced the abolition of subsidies for electricity production, affecting the country's dealers and hence final consumers.

It should be stressed that in December 2015, Chaco's wholesale price was $ 77.2 / MWh and $ 1,660.4 / MWh from August, up by 2.050%.

This large increase directly affects the distribution companies in Argentina and therefore all users who saw this significant increase in the price of consumption.

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