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Cash and cash equivalents | 12 Months Ended
--- | ---
Dec. 31, 2024
Cash and cash equivalents. |
Cash and cash equivalents | 6.Cash and cash equivalents ​
​ | ​ | ​ | ​ | ​
​ |  | 2024 |  | 2023
Banks |  | 8,990,139 |  | 7,525,552
Short–term investments |  | 5,061,940 |  | 4,808,610
Cash |  | 2,396 |  | 1,953
​ |  | 14,054,475 |  | 12,336,115
​ As of December 31, 2024, the balance of cash and cash equivalents (short-term investments) includes an amount of total restricted cash for $1,905,664 ($1,724,488 as of December 2023), mainly in a) Interconexión Eléctrica S.A. E.S.P. for $1,904,745 ($1,580,106 as of December 31, 2023), b) Cenit ($143,464 as of December 31, 2023, which corresponded to Oleoducto Bicentenario), and c) other companies for $919 ($918 as of December 2023). The restricted cash amounts will be used in the next 12 months to: i) the payment of principal and interest on loans, ii) meet short-term business needs, and iii) exclusively for specific activities related to the operation of the concessions. The fair value of cash and cash equivalents approximates its book value due to its short-term nature (less than three months) and its high liquidity. Cash equivalents are convertible to a known amount of cash and are subject to a non-significant risk of changes in value. The effective rate of return on cash and cash equivalents as of December 31, 2024, was 6.7% (2023 – 9.8%). The following table reflects the credit quality of banks in which Ecopetrol Business Group has deposits and check accounts, and issuers of investments included in cash and cash equivalents: ​
​ | ​ | ​ | ​ | ​
Rating |  | 2024 |  | 2023
AAA |  | 1,994,024 |  | 993,553
F1 | ​ | 1,887,118 | ​ | 2,133,937
A+ | ​ | 1,791,193 | ​ | —
F3 |  | 1,419,481 |  | 70,055
A-1 | ​ | 1,107,673 | ​ | 1,498,034
P-1 | ​ | 1,058,446 | ​ | 741,041
F1+ | ​ | 1,027,253 | ​ | 2,349,260
A | ​ | 701,821 | ​ | —
BRC1+ | ​ | 526,853 | ​ | 378,077
BBB | ​ | 352,609 | ​ | 68,378
F2 | ​ | 331,879 | ​ | 630,089
Ba1 | ​ | 156,726 | ​ | —
AA | ​ | 123,665 | ​ | —
A1 | ​ | 85,050 | ​ | —
P AAA | ​ | 38,398 | ​ | 1,475,084
BB | ​ | 12,461 | ​ | 103,066
AAAmmf | ​ | 5,496 | ​ | 4,562
AAAF | ​ | 5,439 | ​ | 64,518
B |  | 3,785 |  | 670,268
BRC1 |  | 1,090 |  | 1,513
Aaa |  | 8 |  | 1,798
AAAm |  | — |  | 51,710
C | ​ | — | ​ | 3,156
Not available rating | ​ | 1,424,007 | ​ | 1,098,016
​ | ​ | 14,054,475 | ​ | 12,336,115
​ See credit risk policy in Note 30.7.

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