was passed in late 2019, and this contains measures that will continue to boost Colombia’s GDP and direct foreign investment. This new law also contains policies of a social type that will benefit the most vulnerable sectors of the population. The exemptions proposed in the law could increase the fiscal deficit, and the government is therefore facing the challenge of increasing tax collections if it is to keep to the fiscal rule in the medium and long terms and maintain the country’s credit rating. It is envisaged that UPME will It is envisaged It is envisaged that UPME will issue the definitive plan towards the end of the first half of the year, and that this will be taken on board by the Ministry of Mines and Energy. Likewise at the end of the first half of the year, CREG is expected to adjust and define regulatory matters associated with the Barranquilla-Ballena Bidirectional project, while UPME will issue the definitive bid documents for the Pacific Infrastructure early in the second half of the year.
Administrative actions relating to assets belonging to Promigas, Transoccidente, Transmetano and Promioriente which came to the end of their regulatory useful lives in 2016, 2017 and 2018 are expected to be resolved in the first half of 2020.
According to the CREG Regulatory Agenda, in the first quarter of 2020 it will reissue the remuneration methodology for the transportation activity for consultation by agents, and in the second quarter it will issue the definitive resolution.
Similarly, with respect to Natural Gas Supply Plan projects, UPME issued the technical study in January 2020 for agents to comment.
Natural gas distribution companies began the rating process during 2019, and the expectation is that their definitive distribution charges will be approved during 2020.
According to the regulatory agenda for 2020 established by the Commission, the year will be a very important one, with significant structural changes in the regulatory framework. CREG is expected to issue the remuneration methodology for the gas marketing service in the third quarter, so that charges can be updated in 2021. Additionally, we expect that the Commission will issue changes in the rating formula (CU) methodology and in the WACC methodology.
Various adjustments are envisaged in wholesale marketing, with a new definitive transportation capacity marketing methodology and another for consultation relating to supply marketing. Additionally, the process of selecting the market agent will continue; until now, this duty has been performed by the Colombian Stock Exchange.
CREG is expected to continue publishing distribution revenue approvals in the course of 2020 for distribution companies that are awaiting these.
According to the definitive Indicative Agenda published by CREG, this year will see the defining of other important remuneration methodologies for the electricity sector, such as marketing (C), transmission (T), and the energy purchases component (G). The Commission also envisages reviewing and publishing the definitive rating formula (CU), which was open for consultation in 2015. The definitive resolutions containing these methodologies are expected to be published in the second half of the year.
The agenda also includes strategic subjects for the sector, such as binding dispatch and intra-daily market, complementary services, meeting demand, gas-electricity coordination, and a review of the WACC methodology, and it is expected that these will be defined in the course of the year.
the transportation system.
We will continue to commit ourselves to clean energies. Together with our affiliate CEO, we envisage building a 214 kW solar energy project, plus another one, of 1,766 MWp, at our headquarters in Santander de Quilichao, Cauca, which is currently at the detailed engineering stage.
Surtigas, another of our affiliates, will also continue to increase its renewable energy supply and, like our affiliate GdO, will continue to support the conversion of new fleets of trucks and buses to VNG so as to contribute to better air quality in our country.
Our target in Peru is to commence commercial operation in Piura and to build the gas distribution pipeline. This, together with further connections by Quavii, will enable us to finetune our business in the country.
In 2019, we consolidated our managerial team and progressed toward aligning our organizational structure and culture. We were able to define a strategic road map for the company, and this will allow us in 2020 to structure and begin to implement new Strategic Planning for analyzing opportunities in segments like LNG, non-conventional renewable energies and electricity, to define the necessary growth horizons for strengthening our current business, and to undertake new business ventures.
And all this while adhering to our ethical principles and respect for human rights and the environment.