The cost is 50% cheaper according to the president of UTE, due to the fact that the neighboring country registered surpluses in hydroelectric generation.
So far this year, the National Administration of Electric Power Plants and Transmissions (UTE) reported that the 25% of the energy consumption of the Uruguay comes from Brazil because the drought compromised the country’s hydroelectric plants.
Brazil currently has a hydraulic surplus due to the large amount of rain that occurred in the north of that country. This, according to the president UTE, Silvia Emaldiin conversation with Subrayado, allows Uruguay to buy electricity with a cost 50% cheaper if you had to resort to power plants for the generation of electricity.
On the other hand, the president of UTE remarked that the hydroelectric power stations They are only generating fifteen%, unlike the normal rainy periods where they contribute 45% of the consumption of electrical energy that Uruguay requires. In addition, he explained that the impact of additional electricity generation costs the State 3 million dollars.
Emaldi recalled that Uruguay is also helping Argentina in the midst of the heat wave because the neighboring country is having problems supplying the demand for electricity.
UTE may borrow for 70 million dollars
The government authorized UTE to take a contingent credit for 70 million dollars. Financial needs are associated with the sourcing costs of the demand originated in the fuels for thermal generation —which amounted to around 60 million in diesel and fuel oil— and the increase in their prices in the international market.
The line of credit may be used for a period of up to 24 months —until December 31, 2024— and in cases of increased costs expected to supply demand that exceed the forecasts of the financial program agreed for the year. Likewise, it may be contracted in case of eventual contingent working capital financing needsand to meet the company’s commitments during 2023 and 2024.
Among the conditions imposed by the government for the authorization is the fact that UTE must prioritize raising funds in local currency and at rates compatible with your ability to pay. In addition, the entity must carry out a competitive process and invite several financial institutions.