Empresa Eléctrica del Ecuador
Encyclopedia
Empresa Eléctrica del Ecuador (literally Electric Company of Ecuador) or Emelec was the name of an Ecuador
ian electric company
based in the city of Guayaquil
.
Until 2004, it was owned by Fernando Aspiazu who used to be president of Banco del Progreso, Ecuador's second largest bank that was closed in march, 1999. In 2004, Emelec had debts of $400 million with the Ecuadorian state and $800 million with state-owned Centro Nacional de Control de Energía (Cenace). Therefore, in 2004, the government of Alfredo Palacio
confined by decree the administration of Emelec's actives for five years to Corporación para la Administración Temporal Eléctrica de Guayaquil (CATEG; literally Corporation for the Temporal Electric Administration of Guayaquil), an entity administrated by Venezuelan power company Electricidad de Valencia (Eleval), whose main duty beside supplying energy is debt collection from EMELEC's private debtors.
A group of employees of EMELEC founded the sports club Club Sport Emelec
in 1929, which nowadays is known for one of Ecuador's top soccer teams.
Ecuador
Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border...
ian electric company
Electric company
Electric company can mean:*Electrical power industry*Electric Company *The Electric Company *The Electric Company...
based in the city of Guayaquil
Guayaquil
Guayaquil , officially Santiago de Guayaquil , is the largest and the most populous city in Ecuador,with about 2.3 million inhabitants in the city and nearly 3.1 million in the metropolitan area, as well as that nation's main port...
.
Until 2004, it was owned by Fernando Aspiazu who used to be president of Banco del Progreso, Ecuador's second largest bank that was closed in march, 1999. In 2004, Emelec had debts of $400 million with the Ecuadorian state and $800 million with state-owned Centro Nacional de Control de Energía (Cenace). Therefore, in 2004, the government of Alfredo Palacio
Alfredo Palacio
Luis Alfredo Palacio González served as President of Ecuador from April 2005 to January 2007. From January 15, 2003 to April 20, 2005, he served as vice president, after which he was appointed to the presidency when the Ecuadorian Congress removed President Lucio Gutiérrez from power following a...
confined by decree the administration of Emelec's actives for five years to Corporación para la Administración Temporal Eléctrica de Guayaquil (CATEG; literally Corporation for the Temporal Electric Administration of Guayaquil), an entity administrated by Venezuelan power company Electricidad de Valencia (Eleval), whose main duty beside supplying energy is debt collection from EMELEC's private debtors.
A group of employees of EMELEC founded the sports club Club Sport Emelec
Club Sport Emelec
Club Sport Emelec is a Ecuadorian sports club based in Guayaquil that is best known for their professional football team. The football team plays in the Ecuadorian Serie A, the highest level of professional football in the country....
in 1929, which nowadays is known for one of Ecuador's top soccer teams.