Initiative to build the first Quito plant embodied in Legislative Decree that granted the exclusive concession for 15 years to Manuel Jijón and Julio Urrutia, to install electric light plants and lighting systems in Quito, Latacunga, Ambato, Riobamba and Loja.
First focus in Quito
For the first time the electric light is installed in the city of Quito, thanks to the fact that M. Jijón imported a small engine to provide this service to his house and the North American Apothecary of his property, on Sucre Street, between García Moreno and Venezuela. Subsequently, he sent the electric light to the Plaza de San Francisco, where the first four voltaic arc bulbs were installed.
Víctor Gangotena teamed up with M. Jijón and J. Urrutia to found La Eléctrica in order to provide light and strength to the city of Quito. They managed to import a 200 kW plant, which was installed in the place called Piedrahita , near Chimbacalle and next to the Machángara River. First, the night illumination of the Church of the Company was carried out and then the Company supplied public lighting to the city through the installation of 60 DC lamps, which were later replaced with 500 incandescent lamps of 16 spark plugs.
Approximation of shareholders of La Eléctrica to US technicians, to invest in the Quito electricity company, which was renamed The Quito Electric Light and Power Company and was legally constituted in the United States, with a mostly American capital. The hacienda called El Infiernillo , west of the Machángara River, where years later the installation of a new 200 kW hydroelectric plant was completed, was acquired in the Guápulo sector .
on October 6, the Municipal Council of Quito issued Ordinance No. 479, with which the Municipal Electric Company is created, granting it the character of a commercial technical company, dependent on the capital city council. The new municipal power plant installed in Guangopolo began operations on November 21 and had a capacity of 3,400 kW, intended to serve 9,498 subscribers.
The Municipal Electric Company becomes an autonomous company with the name of Empresa Eléctrica Quito SA , as recorded in the public deed signed on September 29, 1955, having as shareholders the Illustrious Municipality of Quito, Caja del Seguro and Caja de Pensions, these last two merged then into one, called the Ecuadorian Social Security Institute - IESS. Thus, they agree to establish a civil and commercial corporation with a duration of 50 years, for the production, supply of electricity for social and commercial purposes, both in the city and in any other territorial district of the country.
Join the Ecuadorian Institute of Electrification - INECEL as a shareholder of the Company, on August 18. The Municipality of Quito and the IESS each share 49% of the shares and INECEL 2%.
On March 7, the shareholder integration changed, when INECEL acquired the IESS package and became the main shareholder of the company, owner of 51% of its shares.
Once INECEL is extinguished, the share package is transferred to the Solidarity Fund, which acts as a shareholder in the session of the General Meeting of Shareholders on September 10, 1998, with 56.99% of the share package.
The Solidarity Fund is abolished and its shareholding package is transferred, on behalf of the State, to the Ministry of Electricity and Renewable Energy - MEER
, as a shareholder and holder of 56.992% of the shareholding package. The EEQ begins to operate as a Public Company under the Third Transitory Provision of Mandate 15 and the provisions of Transitory 184.108.40.206 of the Organic Law of Public Companies, published in Official Registry No. October 10, 2009.
Currently, the Share Capital is USD 221'136.231, while the Authorized Capital amounts to USD 244'320.596 2 .