Empresa Distribuidora y Comercializadora Norte Sociedad Anónima Stock

Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (Edenor) operates as an electricity distribution company in Argentina. The company is a subsidiary of Empresa de Energía del Cono Sur S.A.

The company holds a concession to distribute electricity on an exclusive basis to the northwestern part of the greater Buenos Aires metropolitan area and in the northern part of the City of Buenos Aires, comprising an area of 4,637 square kilometers and a population of approximately 9 million people. As of December 31, 2022, Edenor served 3.3 million users.

Edenor Concession

Edenor's concession is set to expire on August 31, 2087.

The company is subject to the terms of its Concession Agreement and the provisions of the regulatory framework comprised by Laws No. 14,772, 15,336 and 24,065, resolutions and regulatory and supplementary standards issued by certain authorities.

Edenor Network

As of December 31, 2022, the system through which the company supplies electricity comprised 81 HV/HV, HV/HV/MV and HV/MV transformer substations, which represents 19,519 MVA of installed power and 1,557 kilometers of 220 kV, 132 kV and 27.5 kV high-voltage networks. The MV/LV and MV/MV distribution system comprises 19,019 MV/LV transformers, which represents 9,433 MVA of installed power, 12,056 kilometers of 33 and 13.2 kV medium-voltage lines, and 27,967 kilometers of 380/220 V low-voltage lines.

Electricity is conveyed from points of interconnection with the Argentine Interconnection System ('SADI'), 500 kV-220 kV Rodríguez Substation, 220 kV Ezeiza Substation, and from the local power plants, mainly Puerto and Costanera. In turn, the transmission network links these nodes with Casanova, Colegiales, Malaver, Matheu, Morón, Rodríguez, Talar and Zappalorto 220 kV head substations, and with Matanza, Ramos Mejía, Agronomía, Puerto Nuevo, Edison, Pilar, and Malvinas 132 kV head substations. Additionally, other local thermal-generation power plants are linked to Pilar, Zappalorto and Matheu Substations.

The transmission and distribution system, together with Edesur's and Edelap S.A. ('Edelap')'s systems, form the Greater Buenos Aires system that is operated by SACME, a company jointly controlled by the company and Edesur S.A. SACME is responsible for the management of the high-voltage regional distribution network in the Buenos Aires metropolitan area, coordinating, controlling and supervising the operation of the generation, transmission and distribution network in the City of Buenos Aires and the Buenos Aires metropolitan area, including coordination with the SADI in the company's and Edesur's concession areas.

The company distributes energy from the high/medium voltage substations through the primary 13.2kV and 33kV system to a secondary 380/220 V low-voltage system, distributing the electricity to final users with varied voltage levels depending on their requirements. In exceptional cases, certain users are supplied with power at higher voltages.

Transmission Structure

The company's HV transmission network takes energy mainly from the Argentine Interconnected System through the Rodríguez and Ezeiza Substations, and the Puerto Nuevo, Nuevo Puerto, Costanera, Parque Pilar and Matheu III local thermal power plants; additionally it exchanges energy with other companies at transmission, distribution and distributed generation levels.

With the intention of improving the quality of the service and meeting the growth in demand, in 2022, the company made significant investments in the HV network, among which the following are worth mentioning:

Replacement of a 2.3 km-long section of a 132 kV oil-paper cable with a 2.4 km-long section of an XLPE-type dry cable in the power line that links Puerto Nuevo and Melo Substations.

Continuation of both the works to replace a 2.4 km-long section of a 132 kV oil-paper cable with a 2.5 km-long section of an XLPE-type dry cable in the power line that links Puerto Nuevo and Colegiales Substations, and the works for the sectioning of the 132 kV power lines that link Talar and Matheu Substations, at Benavidez Substation.

Commencement of construction works of a new 220/132 - 1x300 MVA transformer in Pantanosa Substation, which is expected to be put into service in the first half of 2023.

Commencement of works on two new 132 kV power lines between Pantanosa and Aeroclub Substations.

Commencement of works to increase installed capacity in 220/132 kV Zappalorto Substation from 2 x 300 MVA to 3 x 300 MVA.

Subtransmission Structure

The company's substransmission network is the link between HV (HV/HV) head substations and the substations where voltage is transformed from high to medium (HV/MV), adopting generally the 132 kV voltage level. The overhead network (double radial deviation or double loop deviation) and the underground network (in 'simple circuit' loops or double loop deviation) are considered as the basic structure of the subtransmission network.

In 2022, some of the main works performed were the completion of the new 132/13.2 kV - 2x80 MVA Aeroclub Substation, along with the authorization to operate the second MV switchboard; the enlargement of the 132/13.2 kV Altos Substation, along with the authorization to operate the second MV switchboard; the enlargement of the 132/13.2 kV Nordelta Substation, along with the authorization to operate the second MV switchboard; authorization to operate the new 132/13.2 kV - 2x40 MVA Oro Verde Substation with its overhead 132 kV (2x2, 1 km) linking power lines. The works on the Medium-Voltage Switchboard continue; continuation of construction works of both the new 220/13.2 kV - 2x80 MVA Trujui Substation and its underground 220 kV (2x100 meters) linking power lines, and the new 132/13.2 kV - 2x40 MVA Garín Substation and its underground 132 kV (2x3.1 km) linking power lines; and commencement of construction works of the new 132/13.2 kV - 2x80 MVA Martínez Substation.

Distribution Structure

The distribution network comprises all the equipment, medium voltage (13.2 and 33 kV) lines and cables that link subtransmission substations with medium and medium/low-voltage transformer centers. The network's basic structure consists of open normal operation feeders forming rings with other feeders of another busbar of the same substation or with neighboring substations.

In 2022, the following works were performed, among others, 47 new MV feeders were authorized to operate in new and existing Substations, increasing the length of the medium-voltage network in 102 km; 376 new MV/LV transformer centers were installed and another 395 were extended, increasing installed capacity in 243 MVA; and 497 new remote control points and 200 new remote supervision points were incorporated in the MV network, which make it possible to reduce restoration times.

Network Improvement

The improvements made to the networks in 2022 comprised all voltage levels. The most significant improvements are:

HV Network: Replacement of bushings in 220/132 kV and 132/13.2 kV transformers and replacement of 132/13.2 kV 40 MVA transformers. Continuation of the replacement plan of metering transformers. Replacement of 132 kV and 220 kV circuit breakers/disconnectors, and of 132 and 220 kV transformer and line protection switchboards.

MV Network: Replacement of both switchboards in Bancalari and Colegiales Substations and disconnectors in Catonas and Ciudadela Substations. Replacement of a 17 km-long section of old technology underground network, change of MV/LV transformers, and change of switchgear equipment in transformer centers.

LV Network: Replacement of underground and overhead network.

Users

As of December 31, 2022, Edenor served 3,264,000 users. The company defines a 'user' as one meter.

Regulation

The company is entitled to charge for the electricity supplied rates that are established by tariffs set with the prior approval of the ENRE under applicable regulations. The company is required to apply for licenses from the ENRE (National Electricity Regulatory Agency ('Ente Nacional Regulador de la Electricidad')) for all the company's business activities, which include certain requirements related to environmental protection.

Section 22 of Law No. 25,675 requires that all persons whose activities maintain an Environmental Complexity Level (ECL) that implies a risk of damage to the environment, such as any activity of the company, obtain environmental insurance for a certain minimum coverage.

History

The company was founded in 1992. It was incorporated in 1992 under the laws of Argentina. The company was formerly known as Empresa Distribuidora Norte Sociedad Anónima and changed its name to Empresa Distribuidora y Comercializadora Norte Sociedad Anónima in 1996.