Cecot Demands The Government To Claim 1.35 Billion Of Castor Warehouse

The Vallesana employer’s association Cecot has asked the fourth vice president and Minister of Ecological Transition, Teresa Ribera , to claim Escal , the concession company of the failed Castor gas warehouse , of which ACS is the main shareholder, the 1.35 billion that the infrastructure cost.

Recently, Congress had to ratify the issuance of public debt to pay Santander, CaixaBank and Bankia the 1,350 million they advanced to compensate the infrastructure concessionaire that had to close due to the earthquakes it caused in the south of Catalonia and the north of the Valencian Community. In a letter, this employer organization asks Ribera if any patrimonial responsibility will be demanded from the shareholders.

Immediately after learning that Escal had filed a bankruptcy , Cecot went to Ribera to explain the measures he intends to take to recover the money. In this sense, it recalls the ruling of the Constitutional Court of 2017, which obliges the concessionaire “to return the € 1,350,729,000 it received” since the royal decree that recognized the compensation for the closure of the facility was declared unconstitutional .

Dominant society
Faced with the option of Escal declaring himself insolvent , the president of the Vallesana employer’s association, Antoni Abad , claims that the Government intends to demand the patrimonial responsibility of the partners.

In this line, they recall the royal decree itself to claim the concession company and, especially, the ACS of Florentino Pérez for being the main shareholder, since it is expected that “the parent company will hold a stake of more than 50% of Escal’s share capital ”

The Cecot started in 2015, together with other organizations, various actions against compensation for Castor. It was expected that the 1,350 million, plus interest, having endorsed the debt to the three banks for having advanced the money for compensation to Escal, will be paid by consumers through the gas bill for 30 years .

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At the end of 2015, the European Parliament urged the European Commission and the European Investment Bank (EIB) to take measures to prevent Spanish taxpayers from bearing the costs of the Castor warehouse, a project preceded by “a disastrous evaluation” .

In 2017, the Constitutional Court endorsed the decision of the European Parliament, which was an endorsement for the challenge of the annual ministerial orders that established the surcharge on the receipt by the Cecot before the Supreme Court.

These claims affected the orders for the years 2014, 2015, 2016, 2017 and 2018. These instructions developed the royal decree of 2014 that envisaged collecting the costs of maintenance and conservation of the Castor, as well as the compensation of 1,350 million through the receipt annual gas. The Supreme Court agreed with Cecot in the challenges

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