Annual Report 2009 - Isagen

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ANNUAL REPORT 2009 / ISAGEN S.A. E.S.P.60Gas OperationDue to the low water inflows in ISAGEN’s and SIN’s reservoirs since May 2009, and to theofficial declaration of El Niño phenomenon in July, there was a larger use of natural gas ofTake-or-Pay –TOP– contract with Ecopetrol for generation in Termocentro power plant, reaching4,377,617 MBTU. This meant an increase of 1,410.6% compared to the fuel used for generationduring 2008.Available TOP gas during 2009, after discounting not-available gas due to excusable events(modified TOP) was 3,009,607 MBTU, 65.0% (1,956,891MBTU) used for Termocentro powerplant generation and 35.0% (1,052,716 MBTU) recovered in the secondary market.CHART 11.EVOLUTION OF ECOPETROL TOP 2009JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOVModified TOPExcusable Excusable CFI Recovery and WholesalersContents Letter from the CEO Achievements2009Good GovernancePractices EvaluationCorporateManagementFinancial Management
ANNUAL REPORT 2009 / ISAGEN S.A. E.S.P.61TABLE 15.FUEL FOR TERMOCENTRO2009 2008 Difference GrowthMBTU MBTU MBTU %TOP 2009 4.380,000 4.392,000 -12,000 -0,3Unavailable excusable events 1.370,393 850,482 519,911 61,1Ending TOP 2009 3.009,607 3.541,518 -531,911 -15,0Termocentro generation 1.956,891 289,789 1.667,102 575,3Secondary market recovery 1.052,716 2.817,464 -1.764,748 -62,6Deficit - 434,265 -434,265 -Revenues from natural gas trading during 2009 were $54,509.8 million, 23.7% lower comparedto gas sales during 2008, mainly due to gas use for Termocentro power plantgeneration.TABLE 16.REVENUES FROM NATURAL GAS TRADING 20092009 2008 Difference Growth$Million $Million $Million %Wholesalers 26.037,0 39.645,0 -13.608,0 -34,3Industrial end users 27.350,5 27.343,4 7,1 0,0Transport assignment 1.122,4 4.466,8 -3.344,4 -74,9Total sales 54.509,8 71.455,2 -16.945,4 -23,7Contents Letter from the CEO Achievements2009Good GovernancePractices EvaluationCorporateManagementFinancial Management
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