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Energy
QUITO ELECTRIC COMPANY
Eng. Ivan Velástegui
General Manager
Av. 10 deAgosto and Las CasasQuito
Tel: +593 2 3964 700
www.eeq.com.ec
Area of activity: energy
Date of creation: 1894
Annual turnover: $283 million USD
In 1894, Mr. Victor Gangotena, Manuel Jijon and
Julio Urrutia teamed up to open a company called
“The Power” which began with a power generation
plant with capacity of 200KW, located in the area of
“Chimbacalle” by the river Machángara.
In 1915 “The Quito Electric Light and Power Com-
pany” was born and subsequently started expand-
ing its operations in the country, installing the Hydro
Project “The Chill” with a total potential of 1,760 KW.
On July 16, 1932 “The Quito Electric Light and
Power Company was sold to “Electric Quito”, while
in 1946 and after numerous structural changes, the
municipality bought “Quito Electric” with all its facili-
ties and equipment.
Quito Electric Company is a public company with 3
major shareholders (98% of shares, the rest is di-
vided between 1200 shareholders): The Ministry of
Electricity, the Municipality of Quito and the Govern-
ment of the Province.
The Quito Electric Company aims to provide suffi-
cient and sustainable energy services in the Prov-
ince by means of professional management, tech-
nological infrastructure and a highly competitive
team of professionals.
Currently, the company generates 130 Mw of proper
energy (94 Mw are produced by hydroelectric power
stations) and is planning to build more stations that
could potentially generate a further 150 Mw.
The Quito Electric Company holds 80% of the total
market share in the Province, making it the lead-
ing power distribution company in the country (25%)
and within the 10 largest companies in the country,
with USD$300 million in assets.
The company is planning to invest USD$800 million
in order to reach its strategic objectives to provide
100% coverage within the Province and to reach the
annual growth of 5% with a million of clients.
CONELEC (THE NATIONAL COUN-
CIL OF ELECTRICITY)
FranciscoVergara
General Manager
Av. Naciones Unidas E7-71 andAv. De los
Shyris, Quito
Tel: + 593 2 2268 744
www.conelec.gob.ec
Areaofactivity:ElectricityRegulationCompany
CONELEC serves to regulate the electrical sector and as-
sure compliancewith legal dispositions, rules and other tech-
nical regulationsof electrification in thecountry, inaccordance
with theNational Energy Policy.
Its primary objective is to provide quality, continuity and trust-
worthiness of its service to the community.
The MEER is responsible for this company. The State,
through the Ministry of Electricity and Renewable Energy
(MEER), is the principal agent in the sector, handlingitsman-
agement, planning, and development.
One of the key strategic projects developed by CONELEC
inEcuador is FERUM. It promotes the development of other
projects for rural and urban electrification and the electrifica-
tionworksdedicated to thesupplyof drinkingwater. Instands
for the “Fund for Rural andMarginal-UrbanElectrification.”
The Conelec building in Quito
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