Empresa de Distribucion Electrica de Tucuman SA

active

Edet distributes electricity in the province of Tucuman. The company had 267,167 customers in 1996. Edet was partially privatized in June 1995 when the provincial government sold a 51% equity stake for $47.8 million to a consortium of Chilean Compania General de Electricidad (CGE); Compania Nacional de Fuerza Electrica, a subsidiary of CGE; and Argentine Jose Cartellone Construcciones Civiles SA. In a second transaction, the provincial government sold a 39% equity stake for $22 million to the same consortium. The remaining 10% equity stake is owned by the provincial regulatory agency in Tucuman. The winning consortium was awarded a 90 year concession period starting in August 1995. The winning consortium committed to invest $75 million in its first five years of operation. Between 1995 and 1996, the new owners invested $27 million in the expansion of the distribution system. In the 1997-1998 period, Edet invested US$ 58.8 million, while in 1999 it invested US$ 19.2 million and in 2000 it invested US$ 15 million.