Sociedad Austral de Electricidad S.A. (Chile)

Sociedad Austral de Electricidad S.A. is a private company that was established in 1926. It initially provided energy to Lebu, Arauco, Carampangue, and later expanded to Puerto Montt, Osorno, and Valdivia. In 1946, Corfo and Endesa became majority shareholders of Saesa to support the country's electrification plan. The company is part of the Saesa Group, which is controlled by the Canadian funds Ontario Teachers Pension Plan Board (OT-PPB) and Alberta Investment Management Corp (AIMCo). The Saesa Group is primarily involved in the distribution and transmission of electricity, with a smaller focus on generation. The group operates under a decentralized operational structure and centralized management, allowing its subsidiaries to maintain a presence and close relationship with customers in different concession areas. In 2020, Saesa sold its stake in Eletrans S.A., Eletrans II S.A., and Eletrans III S.A. to Chilquinta Energía S.A. Additionally, the company underwent a corporate restructuring, dividing itself into two entities: Sociedad Austral de Electricidad S.A. and Saesa Transmisión S.A. This division was in compliance with the requirements of the Law No. 21.194, which established an exclusive business obligation for electricity distribution companies. In 2021, Saesa implemented various investment and maintenance plans to improve service quality, resulting in a significant reduction in outage time compared to 2017, decreasing from 21.0 to 13.4 hours.