$1 Million Fine for Electricity Company in Panama

For breaching the electricity regulations in force, the National Authority of Public Services has imposed a penalty of $1 million on the Electricity Distribution Company Metro Oeste, S.A.

Wednesday, August 22, 2012

A statement from the National Authority of Public Services (ASEP) reads:

The National Authority of Public Services (ASEP) has imposed a fine of one million dollars on the Electricity Distribution Company Metro Oeste, S.A. violating existing rules regarding electricity.

According to the order issued by this entity, the power company failed to comply with the minimum time limit for the purchasing energy and the availability of its supply to customers during 2005 and 2006. This disciplinary process was initiated in 2006 and was the subject of a legal action by EDEMET in the Supreme Court. In late 2011, the Court ruled that theASEP’s actions were legal, and therefore the Regulatory Agency proceeded with the process and came to the same conclusion with the indicated sanction, favoring thousands of customers.

More on this topic

Huge Fine for Blackout in Panama

February 2013

The financial penalty for Empresa de Transmisión Eléctrica S.A. could climb up to $20 million if the ruling deems it responsible for the massive disruption of the electricity supply.

Prensa.com reports that "after completion of the investigation on the national blackout last Monday, February 25, the National Authority of Public Services (ASEP) may impose a fine that could reach up to $20 million, said the general manager of the entity, Zelmar Rodriguez. Damage to the two distribution lines located in Puerto Gago, Cocle province, produced the national blackout ".

Panama Invites Tenders for $1.3 Million Stock Exchange Consultation

September 2010

The contract is for consultancy services to assist in the selling of shareholder packages.

The Panamanian Public Services Authority (ASEP) is to contract stock exchange consultancy services to process the sale of the majority stockholding in the electrical distribution companies, METRO-OESTE, S.A., ELEKTRA NORESTE, S.A. and CHIRIQUÍ, S.A.

Panama Tenders Securities Consulting for $ 2 Million

January 2011

The process seeks to find providers to assist in the sale of stock packages.

The tender is for purchase of services to advise the National Authority of Public Services in the process of selling the majority share packages of electricity distribution company Metro-Oeste SA, Empresa de Distribución Eléctrica Chiriquí and Elektra Noreste SA.

Sale of Electricity Shares in Panama

April 2013

On April 19 the prequalification process will be held for companies interested in buying 51% of the shares of the electricity distribution companies in Panama.

"In the tender separate proposals may be submitted for the purchase of 51% shares of Metro Oeste, S.A. (Edemet), Elektra Noreste, S.A. (Ensa) and Empresa de Distribución Eléctrica Chiriquí, S.A.", reported Prensa.com.

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