‘Regulatory bodies must be independent’: Creg responds to Petro

Following President Gustavo Petro’s decision to regulate public services, the CREG Committee of Experts assured that regulatory bodies should always have a independent nature in order to ensure that its decisions are objective, impartial, consistent and technical.

(Read: New measures are being studied to reduce the price of electricity).

“This allows regulated agents, as well as the general public, to perceive objectivity, neutrality and transparency on the part of the State. It ensures that the State achieves that the agents adapt their conduct to the constitutional and legal purposes of respect for economic and business freedom, while establishing the pertinent rules to limit their activity, in favor of the social interest.”, he said in a statement.

Likewise, the regulatory body recalled that the National government already participates in the Commissionsince this is presided over by the Ministry of Mines and Energy, and is seated by the Ministry of Finance and Public Credit, the National Planning Department and the Superintendence of Residential Public Services.

(Also: The law on which Gustavo Petro relies to adjust rates).

The Creg recounted that Law 142 of 1994, in its article 69, created the Regulation Commissions as special administrative units, with administrative, technical and patrimonial independence, and attached to the respective ministry. For its part, Law 143 of 1994 complemented it and established the regime for the generation, interconnection, transmission, distribution and commercialization of electricity in the national territory; the specific purposes of State intervention in this sector and the responsibilities of the various authorities in the sector.

“The Committee highlights that Laws 142 and 143 of 1994 are complementary, and Law 143 directly assigned the function of regulating the electricity service to the Energy and Gas Regulation Commission”, he said in a statement.

Consequently, the Creg says that must fulfill the functions assigned to it by Law 143 of 1994 and which include, In addition to defining the methodology for calculating energy rates and their approval, creating the conditions to ensure the availability of an efficient energy supply, capable of supplying demand under social, economic, environmental and financial viability criteria, promoting and preserve competition; likewise, establish the operating regulations to carry out the planning and coordination of the operation of the national interconnected system, among others.

(Also: The explanation given to Petro about the rise in energy prices).

“This is why regulatory bodies must have an independent nature to ensure that their decisions are objective, impartial, consistent and technical,” they say in the statement.

BRIEFCASE
With information from EL TIEMPO*