Under a long-term concession, TECO Guatemala holds the equivalent to a 24 percent stake in the local distribution company serving Guatemala City and Escuintla. In these locations, Empresa Electrica de Guatemala (EEGSA) serves the largest metropolitan
market
area of Guatemala. Tampa, Florida-based TECO Energy, Iberdrola of Spain and Electicidade de Portugal (the DECA II consortium), purchased an 81 percent controlling interest in EEGSA during the utility privatization in 1998. The government of Guatemala remains a partner with a 14 percent stake in EEGSA.
EEGSA is a regulated company serving in excess of 809,000 regulated customers, based on 2006 figures. It purchases power under long-term contracts with independent generators to meet its regulated customer needs. Under Guatemalan regulations, the company also provides open-access wheeling services for all unregulated users inside its distribution grid. The EEGSA system wheeled a total of 3,414 gigawatt-hours (GWh) of energy in 2006, compared to 3,298 GWh in 2005. This represents a 3.5 percent growth in energy wheeled through the company’s distribution system.
EEGSA is operated by Iberdrola, which operates and maintains over 8,200 miles of distribution lines at medium and low voltages within the service territory, and which manages a staff of approximately 440 local employees in Guatemala. EEGSA is subject to a rate case every five years requiring the approval of the Guatemalan Regulator, Comisión Nacional de Energía Eléctrica (CNEE).
The original TECO Energy investment in 1998 has been diversified and restructured by the partners. EEGSA affiliate companies in Guatemala – including Invelca, Navega, Ideamsa, and Amesa – contribute approximately 30 percent to 35 percent to the financial results of the companies.
Invelca includes: Trelec, a company holding investments in transmission lines in Guatemala; Comegsa, a commercial company that markets power to the unregulated users in the system; Energica, an engineering contracting company; and Crediegsa, a company that operates revenue collection centers for EEGSA and third parties in Guatemala.
Amesa is an equipment import company providing equipment to its affiliates and other third parties. Ideamsa is a real estate holding company.
Navega, a leading telecommunications carrier, provides connectivity services for large corporations in Central America. TECO Guatemala, through the consortium, holds the equivalent of a 16.5 percent interest in Navega.
