The AES Corporation (NYSE:AES) today announced that its business in Latin America has received the Edison Award, the electric power industry’s highest honor.
Given annually by the Edison Electric Institute (EEI), the award honors one U.S.-based and one international member company for outstanding contributions to and advancement of the power industry. A committee of national industry trade publication editors and a panel of current and retired CEOs select the finalists and winners.
AES was selected for the measurable operational improvements in its generation and distribution businesses in Latin America, achieved through sharing best practices and implementing consistent work methodologies.
“Receiving the Edison Award is a great achievement for AES and a testament to the caliber of our people and operations in Latin America,” said Andrés Gluski, AES Chief Operating Officer. “Throughout the region, we achieved new records for plant availability and reliability, and enhanced customer service and satisfaction.”
During 2006, AES’s businesses in Latin America increased the consolidated availability of its generation plants from 85 percent in 2005 to 89 percent in 2006, increased net generation by 8 percent, reduced the duration and frequency of electrical outages by an average of 15 percent, reduced energy losses by 8 percent and improved overall customer satisfaction rates, as measured by independent third parties.
AES has operated facilities in Latin America since 1993. The company owns and operates distribution and generation facilities in Argentina, Brazil, Chile, Colombia, Dominican Republic, El Salvador and Panama. Its 48 generation plants have the capacity to generate more than 11,000 MW and its nine distribution companies serve more than eight million customers. Through its subsidiaries, AES employs approximately 10,000 people in the region.
About AES
AES is one of the world’s largest global power companies, with 2006 revenues of $12.3 billion. With operations in 28 countries on five continents, AES’s generation and distribution facilities have the capacity to serve 100 million people worldwide. Our 13 utilities amass annual sales of over 73,000 GWh and our 121 generation facilities have the capacity to generate approximately 40,000 megawatts. Our global workforce of 32,000 people is committed to operational excellence and meeting the world’s growing power needs. To learn more about AES, please visit www.aes.com or contact AES media relations at media@aes.com.
Safe Harbor Disclosure
This news release contains forward-looking statements within the meaning of the Securities Act of 1933 and of the Securities Exchange Act of 1934. Such forward-looking statements include, but are not limited to, those related to future earnings, growth and financial and operating performance. Forward-looking statements are not intended to be a guarantee of future results, but instead constitute AES’s current expectations based on reasonable assumptions. Forecasted financial information is based on certain material assumptions. These assumptions include, but are not limited to, continued normal levels of operating performance and electricity volume at our distribution companies and operational performance at our generation businesses consistent with historical levels, as well as achievements of planned productivity improvements and incremental growth investments at normalized investment levels and rates of return consistent with prior experience.
Actual results could differ materially from those projected in our forward-looking statements due to risks, uncertainties and other factors. Important factors that could affect actual results are discussed in AES’s filings with the Securities and Exchange Commission, including, but not limited to, the risks discussed under Item 1A “Risk Factors” in AES’s 2006 Annual Report on Form 10-K. Readers are encouraged to read AES’s filings to learn more about the risk factors associated with AES’s business. AES undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
