Enel Chile's general manager, Gianluca Palumbo, stated the company expects to receive about US$65 million from a total US$900 million debt consumers owe electricity distributors. The debt relates to the Valor Agregado de Distribución (VAD) for 2020-2024. Palumbo voiced confidence in a quick resolution, as the Ministry of Energy considers options like debt factoring.
Gianluca Palumbo, Enel Chile's general manager, outlined these figures during the company's conference call on Wednesday, providing shareholders context on key distribution electricity business issues.
"The amount to receive is around US$65 million, while at the distribution sector level the total amount involved is approximately US$900 million," Palumbo stated. He added that they "continue trusting the process will advance to a quick resolution, considering its relevance to the sector."
The debt stems from the VAD tariff-setting process for 2020-2024. The Superintendencia de Electricidad y Combustibles (SEC) initially set collection from April, delayed to July 1, as the government seeks to prevent bill increases. Current planning targets July 2026 collection, with the Ministry of Energy reviewing alternatives like debt factoring.
One discussed mechanism uses the bill reduction expected from January 1, 2028, due to lower MPC charges, created in 2022 by Ley 21.472 to settle a US$6,000 million debt with generators.
Palumbo highlighted progress on distribution reform, noting a "constructive commitment" and growing consensus to modernize the framework, vital for electrification and long-term investments.
