# Afinia energy debt and financial crisis in Colombia

> Live situation record from CLSTR: https://clstr.news/situations/afinia-energy-debt-and-financial-crisis-in-colombia
> Updated: 2026-10-22T17:36:16.000Z. Sources: 9. Developments: 2.

The Colombian electricity distributor Afinia, a subsidiary of Empresas Públicas de Medellín (EPM), has entered a period of significant financial instability regarding its energy supply obligations.

In late September 2026, XM S.A. E.S.P., the operator of Colombia’s wholesale energy market, issued a formal notice to Afinia setting a strict deadline to settle outstanding energy supply debts. Afinia indicated it was engaging with regulators to manage these obligations and maintain service continuity.

By October 2026, the situation escalated into a critical financial crisis threatening electricity supply for approximately 1.8 million users in the departments of Bolívar, Córdoba, Sucre, and Cesar. Afinia reported a monthly cash deficit of roughly COP 400 billion and an outstanding obligation of COP 131 billion to XM for October energy purchases.

The crisis is attributed to structural imbalances, including high energy losses, fraud, illegal connections, and COP 420 billion in debt owed to the company by state entities. EPM reported injecting COP 1.5 trillion into the subsidiary over the previous year. Proposed solutions from Grupo EPM include subsidies, financing mechanisms, and the mandatory implementation of prepaid meters for low-income strata.

## Claims

- Afinia faces a monthly cash deficit of approximately COP 400 billion. (corroborated by 4 sources)
- Official state entities owe Afinia COP 420 billion as of September 2026. (corroborated by 3 sources)
- Afinia recovers approximately COP 57 for every COP 100 spent on energy procurement. (corroborated by 3 sources)
- EPM has transferred COP 1.5 trillion to Afinia over the last year. (corroborated by 2 sources)
- The crisis threatens the electricity supply for 1.8 million users in Bolívar, Córdoba, and Sucre. (corroborated by 2 sources)
- Afinia has an outstanding obligation of COP 131 billion to XM for October energy purchases. (corroborated by 2 sources)
- Afinia's energy loss rate is 29%, compared to a national average of 14-15%. (single source)
- EPM requested that prepaid meters become mandatory for users in strata 0, 1, and 2. (single source)

## Timeline

### 2026-10-22: Afinia faces severe financial crisis threatening Caribbean energy supply

Afinia, an EPM subsidiary, faces a massive liquidity crisis in Colombia's Caribbean region, threatening service for 1.8 million users due to high energy losses, fraud, and unpaid debts from state entities.

9 sources. https://clstr.news/cluster/epm-sells-caribbean-subsidiary-energua-to-latam-energy-distribution-group

### 2026-09-23: Afinia receives formal notice from XM regarding energy debt

XM S.A. E.S.P. has issued a formal notice to Afinia, an EPM subsidiary, demanding the urgent settlement of outstanding energy supply debts to ensure service continuity in Colombia's Caribbean region.

4 sources. https://clstr.news/cluster/afinia-receives-formal-notice-from-xm-regarding-energy-debt

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Cite as: Afinia energy debt and financial crisis in Colombia. CLSTR, https://clstr.news/situations/afinia-energy-debt-and-financial-crisis-in-colombia