Economic dimension

Economic dimension


We understand this dimension as the ability to create value responsibly to our stakeholders, ensuring the provision of energy effectiveness, quality and efficiency, promote an ethical and transparent behavior, and managing our risks responsibly.

Management of these matters is aimed at maintaining a long-term outlook and continuing to generate value for our stakeholders so that the financial results are healthy and in harmony with the dynamics of relations with our social and environmental surroundings. 

We must maintain a long-term outlook and continue to generate value for our stakeholders so that the financial results are healthy and in harmony with the dynamics of relations with our social and environmental surroundings.

In Integrated Report 2018 you can find our economic performance management.

Supplier management is one of the pillars of our Organization for the optimization of purchases as well as the achievement of challenges on a daily basis to be flexible and reliable in our negotiations with said stakeholders.  All of this allows us to generate differentiation and build sustainable growth  over time.
Additionally, with the development of suppliers, we ensure sustainability through the continuous improvement of administrative, sales, technical, environmental, productive and financial skills. Trust, joint work and the generation of shared value with suppliers are  our central lines of action with the aim for both parties to benefit from  the relationship in aspects such as:

  All of this allows us to generate differentiation and build sustainable growth over time. 

Additionally, with the development of suppliers, we ensure sustainability through the continuous improvement of administrative, sales, technical, environmental, productive and financial skills.


In Integrated Report 2018 you can find our supplier management.

Corporate governance, ethics and transparency allow the organization to have an appropriate framework of behavior to mitigate risks and generate trust and credibility in the relationship with its stakeholders. Therefore, the organization not only complies with the normative standards in these matters, but has implemented additional measures that permanently guide the ethical and transparent behavior of its collaborators and Directors, having integrity as an inspiring principle, understanding this word as To do what is right, that is, to act in a responsible, honest, serious, transparent manner and in accordance with the law and the policies set.

Our Government Framework

Ethics and Transparency


Contributions to: Currency 2015 2016 2017 2018
Lobbying, interest representation or similar COP 0 0 0 0
Local, regional or national political campaigns / candidates COP 330,000,000 25,000,000 0 0
Trade associations or tax- exempt groups (e.g., think tanks) COP 1.214,264,247 1.274,529,679 954,856,892 945,325,049
Other (spending related to ballot measures, referendums etc.) COP 0 0 0 0
Total contributions and other spending COP 1.544,264,247 1.299,529,679 954,856,892 945,325,049
Data coverage (% of denominator) % of: Revenues 100% 100% 100% 100%


Issues or topic Description of position / engagement Total spend in FY2018 (COP)
The incorporation of new technologies to the Colombian electricity sector, in power generations (wind and solar), distribution and large-scale generation. We are an innovative and modern company that is fully committed to the sustainability of the sector. Therefore, we support the incorporation of new and cleaner technologies in the Colombian electric sector, and changes in the sector’s structure that facilitate responsible, profitable and equitable competition practices.
Through the sector’s professional groups, we participated in the design of a proposal submitted to the Energy Regulatory Commission to formalize a standardized contract market that will enable the purchase and sale of energy through long-term contracts. We consider this to be an essential mechanism to complement the reliability charge system, so that the generation companies can develop new power generation projects specifically based on wind and solar resources, and maintaining the competition, neutrality and voluntary participation of the demand as essential pillars of the energy market.
Update of national regulation for the development of new forms of asset management of the distribution and transmission networks We support this topic because we see it as an opportunity to keep developing new products and services that meet the ever-growing demands of our customers and to respond to distributed generation more efficiently.
In terms of smart meter and response to demand, we identified alternatives to implement on the spot market and reliability market from the experiences observed in other markets. This regulatory development opens a new opportunity for the participation of prosumers and new models of service provision.

Trade associations or tax –exempt groups

Name of organization, candidate or “topic” Type of organization Total amount paid in FY 2018 (COP)
ACOLGEN (Asociación Colombiana de Generadores de Energía) ACOLGEN is a not-for-profit, non-profit-making trade union created to promote free and healthy competition and the development of the Colombian wholesale energy market, contributing to the development of the electricity sector through active participation in the formulation of policies & sectoral regulation; Acolgen has fostered communication channels among the various agents involved in the electricity sector (government, regulatory, consumers, marketers, generators, etc.) in order to broaden the technical knowledge on the various topics of interest to the sector, using means such as forums , conferences & seminars.
It is made up of 18 electric power generation companies that represent 86% of the net installed generation capacity in Colombia & is open to all generation companies that share their objectives and goals & are willing to promote free and healthy Competition in the wholesale electricity market.
ANDEG (Asociación Nacional de Empresas Generadoras) ANDEG is a private non-profit organization in which eleven thermoelectric power generating companies located in Colombia. Its purpose is to propose and promote measures that contribute to the National Government, the Regulatory Commission, and the Control and Vigilance, to deepen the market of energy allowing:
  1. Efficient, transparent and competitive price formation.
  2. The economic sufficiency of the agents that make up the supply chain of the electricity service.
  3. Ensuring the sustainability of the energy sector over time.
ANDESCO (Asociación Nacional de Empresas de Servicios Públicos Domiciliarios) ANDESCO, gremial entity constituted as a nonprofit private law entity, belonging to the kind of Corporations established in the Civil Code, of common utility, representing the interests of the affiliated companies of domiciliary public services, their complementary and inherent activities and of Information and Communication Technologies -ICT- and Television.
It was created on September 28, 1995 and brings together the most important companies of:
  • Aqueduct and Sewerage
  • Toilet and Waste Management
  • Electric power
  • Natural gas
  • Information and Communication Technologies- ICT and Television.

We are committed to value creation and sustainability, so enterprise risk management is essential for our Organization. The aim of the ongoing identification, measurement, treatment and monitoring of the risks to which we are exposed is to quickly and proactively assess the positive and negative impacts that may affect the achievement of the strategic objectives and the performance of the business. Enterprise risk management reduces uncertainty in decision-making, and protects and generates value for our Company. 

In Integrated Report 2018 you can find our risk management.

In our Company, client management is focused on knowing our clients’ expectations and needs in order to transform them into products and services that surprise them, forming a relationship of trust and mutual benefit.

We consolidated the strategic business units (City, Business and Home), which enabled us to guide the creation and management of products and services according to the needs and expectations our clients in different sectors.

City :   We offer energy solutions that sustainably benefit cities, towns, shopping centers and free trade zones through investment, operation and maintenance of projects such as self-generation with clean energy, charging stations and efficient lighting, and heating and cooling systems. Business:   We focus on energy efficiency through the optimization of electrical facilities, self-generation with renewable energy resources, backup energy and asset management, through a business model where we invest in the assets, operation and maintenance Home :  We have the solution for the energy needs of residential units and households seeking to optimize their energy consumption with environmentally-friendly options, facilitating the supply of efficient household appliances and the development of solar energy, backup energy and efficient lighting projects.


In Integrated Report 2018 you can find our client management. 

We are interested in the continuous improvement of our operating practices and the effective integration of human rights into the Organization’s culture. This enables us to know the environment of the operations and ensure their sustainability; to maintain a constant relationship with our stakeholders; and to be in line with the highest standards of performance in terms of human rights.

Human Rights Assessment

Category A. % of total assessed in last three years B. % of total assessed (column A) where risks have been identified C. % of risk (column B) with mitigation or remediation process implemented D. Basis for reporting % (denominator, e.g. costs, FTEs, number of suppliers)
Own Operations (including Joint Ventures where the company has management control) 100 100 0 100% To obtain this percentage we took as base only our Colombian operations related with the corporative issues as policies, codes. procedures

Click here to know the process to identify and mitigate risks of Human Rights.

In Integrated Report 2018 you can find our human right performance

National Phone Numer

018000 112 115

Transparency Hotline

Colombia: 018000123420
Costa Rica: 40001941
Panamá: 008002262591 y (507) 8327907
Honduras: 800 27919131

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