The Competition Tribunal resolved favorably an inquiry by Centrales Hidroeléctricas de Aysén S.A., regarding the acquisition of or application for new water exploitation rights in four points of the Aysén river basin, destined to be used during the construction of four electricity plants that will provide Aysén’s electric system, Sistema Eléctrico de Aysén or SMA.
This inquiry was presented in compliance with Condition N° 2, point 2.3, of Resolution N° 22/2007 of this Tribunal.
In its ruling, the Competition Tribunal authorized Endesa, Colbún, or a subsidiary, to apply for all or part of the water exploitation rights needed for the installation of two electricity plants that will provide SMA with electricity.
The Tribunal considered that, even thought in the inquiry process it was not proven that electricity prices in Aysén would necessarily decrease when installing the plants proposed by HidroAysén, an overinvestment scenario would not carry negative consequences, given that there is no risk of price increases to users, relative to a scenario without entry of said plants.