Colombian President Gustavo Petro has announced plans to liquidate troubled utility Air-e after almost two years of state intervention.
Air-e serves about 1.2 million users and has accumulated an estimated 2.5 trillion pesos ($600 million) in debts to power sector companies.
“My decision is to liquidate Air-e so that its assets can form a common company with another Caribbean public company,” Petro wrote on X
Generators association Andeg warned the move would disrupt electricity services in Colombia’s Caribbean region and further delay debt repayments.
“Once the liquidation process begins, the company can no longer continue providing the service, purchasing electricity, selling electricity to users or issuing bills,” Andeg…