Central Dock Sud

Dock Sud power plants located in Avellaneda district, Bue-nos Aires. Dock Sud owns and operates a single generation power plant with two units, with a total capacity of 870 MW. Dock Sud power plant (CDS in Spanish acronym) has four gas turbines and one steam turbine. Two of the gas turbines and the steam turbine comprises once combined cycle power plant.

The energy generated by Dock Sud in 2018 reached 3,950 GWh, participating in 4.5% of thermal generation and covering 2.9% of the SADI demand.

On December 31, 2018, installed capacity of Central Dock Sud S.A. represented 2.3% of the total installed capacity of the SIN.

In January 2017, the Secretary of Electric Energy, which is subordinated to the Ministry of Energy and Mining, through Resolution N° 19E/2017 updated the remuneration values of Resolution SE N° 22/2016 to be applied from February 2017. 

The implementation of Resolution SEE N°19/2017 prompted a change in the remuneration of thermal and hydro gener-ators in relation to the previous regulation. The remuneration concepts were simplified, thus considering a capacity charge, which varies in relation to technology and size of the unit, and a variable charge. The values are defined in dollars. 

Since Resolution SEE N°19/2017, it was established for thermal units the possibility to offer commitments of guaranteed availability, and additional guaranteed availability (DIGO and DIGO Additional respectively) with the same differential remuneration for every technology. 

Later, through resolution N°70/2018, from the second half of November, generation agents were allowed to se to supply their own fuel for energy generation. Generation costs will be valorized according to the mechanism of recognition of Production Variable costs recognized by CAMMESA. Central Dock Sud was part of this scheme since the first half of December, 2018.

Since 2015, there is a loan obtained from CAMMESA, whose purpose was to finance the costs related to the com-bined cycle major maintenance. Pursuant to Article N°7 of Annex 2 of Resolution SEE 19/2017, in December 2017 the Company singed and Addenda to the existing mutual con-tract, where the payment method of the aforementioned loan was adjusted in relation to the remuneration established in the previous regulation and the use of credits of the Additional Remuneration of Trust (RAF in Spanish acronym). In this sense, the compensation between the updated debt and the RAF credits was performed, thus the new capital balance was ARS$224.9 million to be paid in 24 installments plus interests (at CAMMESA interest rates). The first installment was paid in December 2017.  The company estimates to pay the debt with the transaction of November 2019, and maturity is in January 2020.