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Related-party transactions

12 Months Ended

Dec. 31, 2022

Note

35 | Related-party transactions

The following transactions were carried out with related parties:

Income

Schedule of related party income
Company	Concept	12.31.22		12.31.21		12.31.20
PESA	Impact study		—		—		10
SACDE	Reimbursement expenses		—		—		117
FIDUS SGR	SGR contribution revenue				—		88
			—		—		215

Expense

Schedule of related party expenses
Company	Concept	12.31.22			12.31.21			12.31.20

EDELCOS S.A.	Technical advisory services on financial matters		(4,252	)		(1,775	)		—
PESA	Technical advisory services on financial matters		—			—			(606	)
SACME	Operation and oversight of the electric power transmission system		(236	)		(617	)		(300	)
Andina PLC	Financial interest		(27	)		—			—
OSV	Hiring life insurance for staff		—			—			(80	)
SB&WM Abogados	Legal fees		—			—			(39	)
FIDUS	Legal fees		—			—			(12	)
ABELOVICH, POLANO & ASOC.	Legal fees		—			—			(4	)
Estudio Cuneo Libarona Abogados	Legal fees		(5	)		—			—
			(4,520	)		(2,392	)		(1,041	)

Key Management personnel’s remuneration


	12.31.22		12.31.21		12.31.20
Salaries		914		2,957		947

The balances with related parties are as follow:

Receivables and payables


	12.31.22			12.31.21
Other receivables - Non current
SACME		3			5


Other receivables - Current
SACME		—			1

Trade payables
EDELCOS S.A.		(205	)		—
Other payables
Andina PLC		(228	)		(232	)
SACME		(38	)		(37	)
		(266	)		(269	)

(*)

Balances held and transactions carried out as of December 31, 2020, with the companies that comprised the Company’s former controlling economic group (Pampa Energía S.A.) are disclosed for comparative purposes.

The other receivables with related parties are not secured and do not accrue interest. No allowances have been recorded for these concepts in any of the periods covered by these financial statements.

According to IAS 24, paragraphs 25 and 26, the Company applies the exemption from the disclosure requirement of transactions with related parties when the counterpart is a governmental agency that has control, joint control or significant influence.

The agreements with related parties that were in effect throughout fiscal year 2022 are detailed below:

Agreement with SACME

In the framework of the regulation of the Argentine electric power sector established by Law No. 24,065 and SEE Resolution No. 61/92, and after the awarding of the CABA and the Greater Buenos Aires distribution areas to edenor and Edesur S.A., the bidding terms and conditions of the privatization provided that both companies were to organize in equal parts SACME to operate the electric power supervision and control center of the transmission and sub-transmission system that feeds the market areas transferred to those companies.

The purpose of this company is to manage, supervise and control the operation of both the electric power generation, transmission and sub-transmission system in the CABA and the Buenos Aires metropolitan area and the interconnections with the Argentine Interconnection System, to represent Distribution Companies in the operational management before CAMMESA, and, in general, to carry out the necessary actions for the proper development of its activities.

The operating costs borne by the Company in fiscal year 2022 amounted to $ 236.

Agreement with EDELCOS S.A.

The agreement comprises the provision to the Company of technical advisory services especially on financial topics. It expires in December 2026, but may be extended if so agreed by the parties. In consideration of these services, the Company pays EDELCOS S.A. either an annual amount of $ 1,766 or the amount equivalent to 1.75% of the annual gross billing, whichever results in the higher amount, plus the related value added tax. Any of the parties may terminate the agreement at any time by giving 60 days’ notice, without having to comply with any further obligations or paying any indemnification to the other party.

As of December 31, 2022, the Company recorded charges for EDELCOS S.A. technical advisory services for a total of $ 4,252 relating to the services rendered in fiscal year 2022.