Edenor

Last updated
Empresa Distribuidora y Comercializadora Norte S.A.
Company type Sociedad Anónima
BCBA: EDN
NYSE:  EDN
MERVAL component
Industry Utilities
Founded1992;32 years ago (1992)
Headquarters Buenos Aires, Argentina
Key people
Daniel Marx (Chairman & CEO) [1]
Products Electricity distribution
RevenueIncrease2.svg US $2.4 billion (2023)
Increase2.svg US $164 million (2023)
OwnerEdelcos (51%) [2]
ANSES (26.8%)
Number of employees
4,635
Website www.edenor.com

Edenor is a public Argentine electricity distribution company founded in 1992 and headquartered in Buenos Aires. [3] The company has an exclusive concession to distribute electricity in the northwestern section of Greater Buenos Aires, and in the north of Buenos Aires proper, selling electric power to residential, commercial, industrial, and government customers. [3]

Contents

Edenor's 34,500 kilometers of network and 2.5 million customers represent 18.5% of the Argentine market in its industry. [4] [5]

History

Edenor was established on July 21, 1992, as part of the broader privatization of Servicios Eléctricos del Gran Buenos Aires S.A. (SEGBA), a state-owned entity responsible for electricity distribution in Buenos Aires. SEGBA was split into three distribution companies—Edenor, Edesur, and Edelap—as well as several generation companies. This restructuring was intended to promote competition and efficiency in the sector. [6]

EDF International S.A., was among the international investors that acquired a controlling interest in Edenor through an Argentine holding company named EASA. [7] The concession agreement granted to Edenor was set for 95 years, lasting until 2087. [8] By September 1992, EASA had secured a majority shareholding in the company​. [6]

In the early 1990s, Edenor faced significant challenges, particularly with electricity theft, which was rampant in certain areas, especially in shantytowns. The company attempted to mitigate these losses by installing automatic circuit breakers to regulate power usage. However, community and political activists put up opposition, resulting in compromises that allowed people to continue using electricity while trying to limit usage of high-energy appliances​. [9]

The 2000s were a period of significant change for Edenor. During this decade, ownership of the company changed hands several times. In 2002, EDF sold a majority stake to the Dolphin Group, which later became part of the Grupo Emes. This group eventually integrated Edenor into Pampa Energía S.A., a major player in Argentina's energy sector​. [10] [11]

In the 2010s, Edenor responded to regulation changes and tried to modernize its operations. The Argentine government implemented a Comprehensive Tariff Review in 2017 [12] , adjusting electricity rates to reflect operational costs more accurately. This process included public hearings and aimed to address the financial instability of the sector, which had been affected by currency devaluation and inflation. [13]

Edenor also embraced digital transformation during this period, launching the Edenor Digital platform in 2017. This platform, accessible via a website and mobile application, enabled customers to manage their accounts, view and pay bills, and monitor electricity consumption online. [14] [15] The company's modernization efforts also extended to sustainability, as Edenor adopted the United Nations Sustainable Development Goals in 2017 and began piloting renewable energy initiatives​.

Renewable energy

In March 2018, Edenor became the first company in Argentina to purchase a fully electric vehicle, adding the Renault Kangoo ZE to its fleet in Buenos Aires. [16] [17]

That same year, the company started testing small-scale power generation systems with energy consumption between 10 and 50 kW in Buenos Aires City and Greater Buenos Aires. [18]

Edenor also installed solar panels at their building on Avenida Andrés Rolón in San Isidro, which allowed them to generate and feed electricity back into the grid. [19]

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References

  1. ↑ "Edenor Informs the Market the appointment of Mr. Daniel Marx as Chairman and CEO". PR Newswire. Retrieved 2024-05-29.
  2. ↑ "Estructura accionaria | Edenor". ir.edenor.com (in Spanish). Retrieved 15 August 2024.
  3. 1 2 "Edenor Overview". PitchBook. Retrieved 2024-05-29.
  4. ↑ "DLA Piper advises Edenor, the largest electricity distribution company in Argentina, on its successful debt exchange offer". Legal Desire. 2022-05-24. Retrieved 2022-06-18.
  5. ↑ "Edenor agiliza la atención de clientes con la plataforma Avaya OneCloud CCaaS". Prensario Tila (in Spanish). 2022-06-15. Retrieved 2022-06-18.
  6. 1 2 "Historia | Edenor". ir.edenor.com (in Spanish). Retrieved 2024-05-29.
  7. ↑ "Electricité de France tomará el control mayoritario de Edenor". LA NACION (in Spanish). 2001-02-27. Retrieved 2024-08-28.
  8. ↑ "CONSTITUCION Y OPERACIONES DE LA SOCIEDAD". mepriv.mecon.gov.ar. Retrieved 2024-08-28.
  9. ↑ Nash, Nathaniel C. (1993-06-15). "Unrest Shows Argentina the Perils of Privatization". The New York Times. ISSN   0362-4331 . Retrieved 2024-05-29.
  10. ↑ "Deja Edenor su principal socio: Electricité de France". LA NACION (in Spanish). 2005-04-27. Retrieved 2024-08-28.
  11. ↑ "El 65% de Edenor fue vendido al grupo local Dolphin". LA NACION (in Spanish). 2005-06-29. Retrieved 2024-08-28.
  12. ↑ "Normativa". www.enre.gov.ar. Retrieved 2024-08-28.
  13. ↑ Ensinck, Maria Gabriela (2015-07-03). "Las tarifas que vienen: el lastre mas pesado para el proximo gobierno". www.cronista.com (in Spanish). Retrieved 2024-08-28.
  14. ↑ Spaltro, Santiago (2017-09-07). "Edenor renueva imagen e invierte $ 26.000 millones hasta 2021". www.cronista.com (in Spanish). Retrieved 2024-08-28.
  15. ↑ iProfesional (2020-06-10). "Edenor Digital: cómo descargar y pagar la factura por Internet". iProfesional. Retrieved 2024-08-28.
  16. ↑ iProfesional (2018-04-20). "Edenor es el primer comprador de la Kangoo ZE eléctrica en la Argentina". iProfesional. Retrieved 2024-08-28.
  17. ↑ "Las empresas argentinas ya suman autos 100% electricos a su flota". www.cronista.com (in Spanish). 2018-04-11. Retrieved 2024-08-28.
  18. ↑ "Un hogar, una escuela y una pyme son los primeros proyectos que le venden energía a Edenor". LA NACION (in Spanish). 2018-08-16. Retrieved 2024-08-28.
  19. ↑ "Edenor instaló termotanques solares en dos edificios propios de su área de concesión • econojournal.com.ar" (in Spanish). 2018-02-26. Retrieved 2024-08-28.


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