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| Central Térmica Güemes S.A. (“Güemes” o “CTG”) |
Central Térmica Güemes is located in the northwestern region of Argentina, in the City of Gral. Güemes, Province of Salta. Privatized in 1992, it has a 261 MW open cycle thermal electricity generation plant and in September 2008 it added a 100 MW natural General Electric gas-powered turbogenerator group , amounting to a total of 361 MW, which represent 1.3% of the installed capacity in Argentina. From 1993 to 2009, its average annual generation was 1,560 GWh, with the highest level of generation (1,903 GWh) reached in 1996 and the lowest level (1,030 GWh) recorded in 2003.
CTG is in a privileged location, given its proximity to the gas fields in the Argentine northeast basin, which permits it to enter into supply contracts at very competitive conditions in terms of price, quality, volume and delivery conditions throughout the year.
CTG’s revenues are mainly composed of energy and capacity sales. Total revenues for the twelve-month year ended December 31, 2009 were Ps.415 million, corresponding to a net generation of 1,695 GWh, 1.7% lower than in 2008. This reduction is explained by increased maintenance and the lower dispatch of the 261 MW open cycle steam turbines, partially offset by the increased generation of the new 100 MW turbine, which was available throughout the whole of 2009. In this sense, during 2009, the generation of electricity was subject to restrictions on the transmission system, as a result of the interconnection of the TermoAndes’ units to the National Interconnected System (“SADI”), which limits the joint operation of all of CTG’s units. However, the start-up of the 132 Kv Cobos-Eastern Salta’s lines and the Argentine Northwestern region’s (NOA) and Argentine Northeastern region’s (NEA) 500 KV High Voltage Lines (HVL) expected for 2010 and 2011, respectively, will allow CTG’s full operation.
Furthermore, CTG allocates 150 MW to its contracts for export of electric energy and capacity to UTE Uruguay. In 2009, an aggregate of 184 GWh was exported, 45% lower than the volumes exported in 2007 mainly due to a lower demand by UTE and to a lesser extent, a decrease in the amount of authorizations granted by CAMMESAfor those exports.
The following chart shows certain relevant statistical data on Central Térmica Güemes:
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2005 |
2006 |
2007 |
2008 |
2009 |
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Net Generation (GWh) |
1.617 |
1.666 |
1.643 |
1.724 |
1.695 |
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Energy Purchases (GWh) |
206 |
116 |
123 |
252 |
521 |
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Total Energy Sales (GWh) |
1.823 |
1.782 |
1.766 |
1.976 |
2.216 |
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Average Price (Ps. / MWh) |
51,5 |
81,0 |
86,0 |
167,5 |
197,5 |
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Average Gross Profit (Ps. / MWh) |
13,1 |
23,8 |
27,4 |
62,8 |
77,9 |
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| Note: Gross Margin before amortization and depreciation charges. Includes results of Powerco. |
Technical Data
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