Earnings Labs

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (EDN)

Q2 2020 Earnings Call· Tue, Aug 11, 2020

$25.24

+1.28%

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Same-Day

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1 Week

-5.08%

1 Month

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Transcript

Operator

Operator

Good morning ladies and gentlemen and thank you for waiting. At this time we would like to welcome to the Edenor's Second Quarter 2020 Results Conference Call. We would like to inform you that this event is being recorded and all participants will be in listen-only mode during the presentation. After the company's remarks are completed there will be a question-and-answer session. At that time further instructions will be given. [Operator Instructions] Before proceeding, let me mention that forward-looking statements are based on the beliefs and assumptions of Edenor's management and on information currently available to the company. They involve risks, uncertainties and assumptions because they relate to future events and, therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of Edenor and could cause results to differ materially from those expressed in such forward-looking statements. Now, I'll turn the conference over to Mr. Leandro Montero, CFO of Edenor. Mr. Montero, you may begin your conference.

Leandro Montero

Analyst

Thank you very much. Good morning, everyone and welcome to the Edenor conference call for the second quarter 2020. As we usually do first we will focus on the main events that recently took place and then briefly review the results of the quarter. As you know you can always call any member of our team for more details on the results of the period or any doubts you might have. But first I'd like to acknowledge the extraordinary efforts our staff is making to continue giving service to users while maintaining high quality and security standards even the unique circumstances we are facing with the COVID-19 outbreak. With that said we will focus on the relevant events taking place lately. First on may 15 the regulator issued a note authorizing the reading of static one customer's meters thus regularizing the reading process for all user categories. The note provided instructions on the methodology applicable to the settlement of conceptions between such reading and the last actual reading depending on whether this difference is for or against the consumer. After performing the readings of all meters for which estimates have been made perform to enter the solution number 27 passed on May 5. The financial impact on revenues from estimates which were lower than the actual consumptions amounted to 530 million Pesos which would have been recoverable in six installments payable as for September this year. Additionally on May 5 the [error resolution] number 28 provided for the creation of the electricity distribution panel which aims to foster an environment for the communication coordination and articulation of technical and commercial issues within the framework of the social preventive and mandatory lockdown. The first meeting addressed certain matters like the reading and estimate issue mentioned before. Following this line on May…

Leandro Montero

Analyst

Thank you very much for joining us in this conference call. Please keep health, keep safe because of this situation. Have a nice day. Bye.

Operator

Operator

Thank you. This concludes today's presentation. You may disconnect your line at this time and have a nice day.