The entity resigned US$23 million for setting fuel rates below the Import Parity Price.
In its balance for the first quarter of this year, ancap recorded a positive balance of 73 million dollars, even though he lost 10 million dollars in the monopoly market, product of the setting of tariffs by the Executive power below the Import Parity Price (PPI).
When analyzing the figures in the report, the president of Ancap, Alejandro Stipanicic, considered that they are due to the profits in the non-monopoly businesses of the entity, the result of its associated companies and the sale of energy to UTE.
It is that the non-monopoly businesses of ancap recorded a profit of 36 million dollars, what they should join 18 million dollars of sales made to UTE for electricity generation and 8 million of the profits of its related companies. In addition, the entity generated profits of 13 million for the appreciation of the Uruguayan peso, six million for income tax due to accounting for deferred tax and two million for other income.
These numbers contrasted with the losses in the monopoly market, which reached 10 million dollars. According to Stipanicic, Ancap billed for about 1 billion dollars and resigned some 23 million dollars due to the setting of tariffs below the Import Parity Price (PPI), which had to do with the decrease in the price of fuels in Uruguay. Counting that amount, the company would have received earnings for 13 million dollars “in a perfectly competitive market,” he said.
The maintenance works that will paralyze the service in La Teja
The official also recalled that maintenance and technological renovation works will take place in September at the La Teja refinery. The works will involve complex and sophisticated engineering works, which “require the use of equipment not available in Uruguay,” Stipanicic said.
Highlighting the importance of the investments, he stressed that they will allow the refinery to be placed in conditions to guarantee its operation for the next 20 or 30 years. “It is an investment in the future,” he considered.
Ancap’s intention to associate with private companies for the cement and lime business
On the other hand, the official referred to Ancap’s search to partner with a private company to boost its cement and lime business and reported that the entity approved on May 19 the tender specifications to select it.
The entity thus seeks to address a structural problem. It is that in the first quarter of 2023 the business showed a loss close to 6.2 million dollars. However, Stipanicic clarified that the losses are not temporary, but have been recorded uninterruptedly for more than 20 years.
Source: Ambito
