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UTE managed to obtain US$120 million in profit last year

UTE managed to obtain US$120 million in profit last year

The director of UTE, Silvia Emaldi, anticipated the company’s preliminary numbers during the year 2023.

Photo: UTE

The National Administration of Power Plants and Electrical Transmissions (UTE) managed to raise a total of 120 million dollars from Profits despite a challenging context in 2023 due to one of the worst droughts in a century that had to go through Uruguay During the past year.

Although the drought caused the state company’s profits to rise by 2 million dollars, UTE managed to generate Profits promising, as confirmed by the president of UTE, Silvia Emaldito Radio Carve.

The increase in expenses was due, first of all, to the lack of generation of hydraulic energy that generated the crisis of the year caused by the drought and the increase in the need to import energy from Brazil – which had values ​​that almost equaled the cost of Uruguay due to its good weather conditions -, as well as Argentina, although their values ​​were much higher.

Of the total Profits, A total of 90 million dollars was allocated to General Revenues During the past year. However, the leader announced that this year it is expected to carry out a policy of costs reductionamong which is smart metering.

“In 2023 we will execute a investment plan ambitious and was able to execute above what was planned. We closed the year with 283 million dollars investment”, Emaldi explained. In that sense, the leader explained that 70% of the investments are aimed at improving and extending the energy transmission and distribution networks with the aim of reaching more and more into the deep interior of Uruguay and “reinforcing many of the rural networks.”

Millionaire investment works

UTE promotes an investment of 100 million dollars for the expansion of photovoltaic solar source generation of 100 megawatts — the first 25 megawatts will be installed in Tiger Point (Saint José), on land of UTE; while in the first quarter of the year a tender will be opened for a single 75 megawatt park in Long Hill.

The state company will also close the administration with 60 million dollars destined for the renovation of the Rincón hydroelectric plant Baygorria, and 44 million dollars for the maintenance of the thermal power stations, as indicated by Emaldi.

Other works planned in the UTE five-year plan include improvements in energy transmission, with an investment of 220 million dollars in the trust and closure of the transmission ring of the North; $100 million in renovations; 85 million dollars in the master plan Montevideo and metropolitan area; and 59 million at the station Cardal and the second line to Punta del Tigre.

Source: Ambito

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