Good afternoon, ladies and gentlemen, and welcome to the Second Quarter and First Half 2022 Results Conference Call. My name is Victor, and I'll be your operator for today. At this time, all participants are in a listen only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you need to press star one one on your telephone. Please be advised that today's conference is being recorded. During this conference call, we may make statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect only our current expectations, are not guarantees of future performance, and involve risks and uncertainties. Actual results may differ materially from those anticipated in the forward-looking statements as a result of various factors. These factors are described in Enel Chile's press release reporting its second quarter and first half 2022 results. The presentation accompanying this conference call and Enel Chile's annual report on Form 20-F included under the risk factors. You may access our second quarter and first half 2022 results press release and presentation on our website www.enel.cl and our 20-F on the SEC's website www.sec.gov. Readers are cautioned not to place undue reliance on those forward-looking statements which speak only as of their dates. Enel Chile undertakes no obligation to update those forward-looking statements or disclose any development as a result of which these forward-looking statements become inaccurate except as required by law. I would now like to turn the presentation over to Ms. Isabela Klemes, Head of Investor Relations of Enel Chile. Please proceed. Many thanks, Victor. Buenas tardes. Good afternoon, and welcome to Enel Chile second quarter and first semester 2022 results presentation. Thank you all for joining us today. Joining me this afternoon is our CEO, Fabrizio Barderi, and our CFO, Giuseppe Turchiarelli. Let me remind you that your presentation and related financial information are available on our website www.enel.cl in the investor relations section and in our app, Enel Investor. In addition, our replay of the call will be soon available. In the final of this presentation, there will be an opportunity to ask questions via phone or webcast chat through the link, Ask a Question. On this occasion, media participants are connected only in listener mode. In the following slides, Fabrizio will open the presentation with our main highlights and strategy updates, and then Giuseppe walk us through our financial results and our recent material facts released. Thank you all for your attention, and let me now hand over to Fabrizio. Thank you, Isabela. Good afternoon, and thanks for joining us. Let me now start with the highlights of the period on Slide three. As you know, the market pressure remained high during the year through the second quarter. Given this, we have been taking several management actions to offset this pressure and take advantage of the natural resilience of our assets, proving that our strategy is sustainable and resilient. I will give a detailed view of the actions contribution for this first half in the following slides. We had several rainfalls and snowing episodes during the first semester, bringing us the right hydrological perspective for the second semester. Also, there has been some regulatory updates like the approved second energy stabilization mechanism, the VAD that will enter into force on the fourth of August, and some recent updates related to the 2020, 2024 draft. Regarding our economic and financial performance, we have faced some temporary headwinds over the margin related to the commodity pressure. Thanks to many actions we have put in place and the positive geopolitical perspective for the second half, we are comfortable that we shall execute our 2022 guidance, as we will detail in this presentation. Finally, as we have just revealed, the asset rotation process, as part of our sustainable balance sheet position, is ongoing and evolving as expected in terms of both timing and multiples in the transaction, confirming the quality of our assets and our path to unlocking value for all our shareholders. Today, we signed the sales and purchase agreement with Sociedad Transmisora Metropolitana S.A., a company fully owned by Inversiones Grupo Saesa, for an equity value of $1,345 million for the interest stake held by Enel Chile. We hope everything will be closed by the year end, as Giuseppe detailed today. Now, let's move to Slide five to briefly talk about the market situation. The national electrical system has been impacted by a set of factors correlated with the Russia-Ukraine conflict and last year's critical hydrology. Commodities continue their uptrend, particularly coal prices, that escalated to a lower annual fetch, resulted in the sharp increase of the spot price in the period. This scenario has been softened due to the presence of Argentine natural gas up to April and several actions in terms of thermal grid optimization that we put in place. Unfortunately, the four quarters in the period were also negatively impacted by a declared LNG force majeure in the system, thermal grid maintenance and outages, and some transmission constraints. Despite this strong adverse scenario, we have been able to put in place several actions that contributed for around $130 million in the period. Our solid LNG supply position, which includes our long-term LNG contract with Shell and the Argentine gas supply, which was successfully delivered up to April this year, enabled us to increase the generation volume and optimize our operating natural gas thermal fleet, contributing to the first half of the year with $27 million. We have some natural gas trading activities that contributed more than $34 million in the first half. In addition, our commodity hedging instruments contributed an additional $58 million in the first half. Complementing these short-term actions and also having in mind the new configuration of the market, we also decided to enter into long-term PPAs with some pure renewable developers as an anticipated move of a review of our portfolio strategy to reduce our non-hedged space position. Renewable growth has been one of the main pillars in the energy transition. Let's now look at how we are consolidating our renewable position on Slide six. The current context has unquestionably meant an important challenge for the energy sector, and we have acted as necessary to adapt to this new environment. In that sense, we have been one of the principal driving forces in the energy transition process in the country. One proof of the aforementioned is our strong position in the renewables market, where we have consolidated our leadership, connecting more than 1,000 megawatts of renewable capacity since 2020. During this year, we have already connected 215 megawatts of solar capacity. Moreover, our efforts and CapEx are committed to connect until year-end. A more significant part of our project in construction is exemplified in this slide. We are strongly convinced about the potential of Chile as a renewable development pool in the region, and we will continue contributing to consolidate this position, aiming for a clean energy metric. Now, on page seven, let's take a look at the hydrological condition and the outlook for the second half of the year. During June and July, there has been a significant increase in rainfall and accumulated snow, especially in the south of the country. In fact, in the eighth region, where the basins of Laja and Biobio are located, the rainfall recorded to date is equivalent to one recorded in a year with normal hydrology. Something that we haven't seen for a while in Chile. As you can see on the left side of this slide, the snow cover in the mountains is clearly better than the last year figures, and therefore, the snowpack statistics highlights a very good situation, allowing us to foresee an optimistic hydro scenario for the rest of the year, especially for the fourth quarter. On the other hand, we have also been carrying out various actions to maintain our portfolio's resilience, mainly thanks to the higher availability of Argentinian gas. During this year, we have been able to reroute our LNG capacity, increasing our trading activities and optimizing our thermal generation. This year, we have rescheduled part of our LNG deliveries from Quintero to the Port of Mejillones. For the second half of the year, the presence of the Argentine gas and the cargoes we still receive will permit us to continue going forward with this optimization. On Argentine gas, during June and July, the government has organized the three auctions in which several Argentine gas suppliers have participated to deliver natural gas to Chile. Two of these auctions were focused on the electrical system. In both bids, we chartered 4.7 million cubic meters per day of natural gas from October 2022 to April 2023, at competitive prices that will allow us to maintain a resilient portfolio. All in all, we are convinced that there are signs that the worst is leaving us behind, recovering our performance in second half and confirming our targets for the full year. Regarding the new stabilization mechanism project and other regulatory matters for the energy sector, let me highlight some topics on this on Slide eight. On July 13, the second PEC law that creates an energy stabilization and emergency fund, and also establishes a new mechanism for the transitory stabilization of energy price for regulated clients, was approved. The approval of this law seems positive for our company and also for the sector as a whole, to bring back system rationality, since it means that the generators will not continue financing the sector directly. Now, with the new mechanism, we expect to reduce the impact on our cash flow, as the receivables shall be backed by the new energy stabilization mechanism. Regarding the basic service law, in early February 2022, a new law was approved to solve the problem of the debt accumulated between March 20 and December 21. An electricity consumption limit of 250 kWh per month was established to define the customers that will be benefited, replacing the criteria of vulnerable profiles and other institutions. The collection system of this law shall begin in our concession area in August. In June, the consultant report was published on the distribution tariff review, and we have already addressed more than 100 comments to the regulator, who shall review it. Any potential discrepancies between the companies and the regulators shall be reviewed by the expert panel in the next phase. On transmission, the process is pretty completed. The largest sectors company arguments were addressed by the panel of experts, and we expect the new BAS to be published during the second half. Now, let me recap our strategy based on electrification and decarbonization. Despite all the temporary headwinds within our markets, we continue pursuing our long-term goals. Now on Slide nine. As you well know, our strategy embeds sustainability. That is why the quality and digitalization of our network remain a key enabler for the decarbonization and electrification of our final customers. As you can see in our main KPIs, we are improving in all quality, digitalization, decarbonization, and electrification indicators, as demonstrated by our network and Enel X businesses. All the strategy is backed by a solid ESG structure that is aligned with the UN SDG, and is well recognized, confirming our leadership on the main SDG indexes and in transparency and reporting. Let me now hand over the presentation to Giuseppe, our CFO. Thank you, Fabrizio, and let me Giuseppe, are you on the line? Yes, yes. Are you hearing me? Giuseppe? You hear me? Yes, you hear me? Hello? Hello? Sorry, you all. We're just having a connection problem with Giuseppe. Just a second. You hear me? Giuseppe, we can hear you. Okay, perfect. Okay, sorry for the problem. Many thanks, Fabrizio. Good evening to all our investors connected. I will start my presentation on the Slide 11 with a quick summary of the adjustments applied in the period in the quarter. In the first half and in the second quarter of 2022, we applied an adjustment in the EBITDA due to the impairment made to the coal stock of the period, which amounted $62 million and $41 million, respectively. This adjustment had an effect at the bottom line of $42 million in the first half and $28 million in the second quarter. To the same period of 2021, we applied an adjustment due to the coal stock and the voluntary retirement, which amounted $40 million in the first half and $27 million in the quarter. At the bottom line, this effect amounted $28 million and $19 million in the first half and the second quarter, respectively. The second quarter 2022 Adjusted EBITDA had a decrease of 54% and/or $110 million, mainly due to the higher commodity prices, which increased the spot prices and had an increase in the variable cost of the period. This effect has also impacted the first half 2022 Adjusted EBITDA performance, which decreased of 21% or $82 million. In terms of adjusted net income during the first half 2022, this decreased by 3%, reflecting the lower EBITDA of the period, which was offset by the lower financial cost coming from the factoring of the PEC accounts made in the first half 2021 to improve the liquidity of the company. In the second quarter, the net income decreased 65% due to the same reason mentioned before. First half 2022 CapEx almost reached $500 million, 12% higher than the first half 2021, mainly due to the construction of the new renewable capacity. In the second quarter, our CapEx reached $336 million, 63% higher than the same period of the previous year. FFO reached -$219 million, representing a significant reduction in the first half 2022, mainly coming from the stabilization mechanism effect in the second quarter 2022. Now, let's review more about our CapEx on Slide 12. In a consistent trend throughout the last year, our primary effort has been mainly focused on boosting the country's energy transition. As a result, during the 2022 first half, accumulated CapEx reached $499 million, of which 95 was mainly related to our customer CapEx totaled $35 million and was mainly allocated to enhancing our networks, building new connection, and improving the experience for our customer. Asset management CapEx reached $68 million, mainly related to maintenance activity in order to increase the resilience of our thermal capacity, thus reducing unavailability risk. Development CapEx reached $397 million, representing an increase of 10%, mostly due to the activity of our project under construction, and the clear signal that our renewable expansion plan is still on track. Let's move now to Slide 13, where we have the summary of the second quarter Adjusted EBITDA breakdown, accounting for $92 million. This variation was mainly related to an increase in our PPA sales of $100 million, primarily explained by the higher devaluation of the Chilean pesos against the dollar. New renewable capacity which was connected in December 2021 and during 2022, adding $12 million in EBITDA of the period. Gas trading activities that generated $21 million on margin, mainly due to the sales of gas as a consequence of the Argentine natural gas availability and LNG during the second quarter 2022. All these effects that I've just mentioned on the generation side were offset by $11 million due to the lower hydrology and negative effect on variable costs, mainly due to the higher thermal generation costs driven by higher commodity prices. This was partially offset by a more efficient thermal generation in the period and by the hedging commodity coverage instrument in the period. The higher spot price in the system in Q2 2021, mainly due to the higher commodity price and several system facilities that were into outages during the period. Following on the slide, let me talk about the other elements that explain our EBITDA. Network remuneration and demand, accounting for a positive impact of $16 million, related to tariff indexation in both network and transmission business. The recovery of the regulated demand in the period, which increased 9% in Q2 2022 compared to the last year period, reaching pre-pandemic level. Other effects accounting for $6 million, mainly related to the hedging instrument associated with the bond debt. Let's move now to Slide 14, where we have the summary of the first half Adjusted EBITDA breakdown accounting for $313 million, 21% lower versus 2021 figures. This valuation was mainly related to $190 million higher PPA sales in the first half 2022, primarily explained by the higher foreign exchange of the Chilean pesos against dollar. New renewable capacity, which was connected in December 2021 and during 2022 first half, added $20 million in EBITDA of the period. Gas trading activity that generate $24 million on margin, mainly due to the sales of gas as a consequence of the Argentinian natural gas availability and LNG, largely during the second quarter 2022. All these effects that I've just mentioned in generation side were offset by lower hydrology with an impact of $27 million. A negative impact of $100 million on variable costs, mainly related to higher thermal generation costs due to the commodity prices and higher regasification costs in the period due to the higher volume, partially offset by a more efficient thermal generation in the period and by the hedging commodity coverage instrument in the period. A negative $234 million due to the higher spot price in the system in the first half. The remaining variation of our EBITDA comes from $35 million due to the network remuneration and demand, explained by $14 million, mainly due to the release of the final transmission tariff technical report issued by the regulator in the first quarter 2022. This final tariff allowed us to reduce the provision we have been made since the beginning of the new regulatory cycle that started in January 2020. $16 million of tariff indexation in both network business, and the recovery of the demand in the period, which increased 7% in the first half 2022 compared to the first half 2021, reaching pre-pandemic level. Other effects accounted for $9 million, mainly related to the hedging instrument explained before, partially compensated by lower OpEx in network business due to the union agreement signed in the first quarter 2021. Let's now give you more detail on generation KPI on page 15. Net electricity generation grew by 11% to 10.2 TWh during the first half of 2022, mainly as a result of higher dispatch of our combined cycle power plants and the additional capacity coming from our new connected solar unit in the period. During the second quarter 2022, net generation increased 8% to 5.1 TWh, also due to the higher thermal dispatch coupled with higher solar, mainly due to the new project and wind generation. Even though our first semester generation was affected by poor hydrology, during the second quarter, there was an improvement in rainfalls that enabled a recovery in our reservoir level, and the snow cover in the mountain that brings a new and better perspective for the second half of the year. Nevertheless, since there is a preventing electricity rationing decree in force until September 30, 2022, 0.4 TWh has accumulated as a virtual water reserve for the whole national electricity system, out of which 0.2 TWh are in our reservoir. The impact of this water reserve is basically neutral, since the accumulated water belongs to the system and will be generated and returned to the system once the decree expire, in proportion to the sales of each generator. Our energy sales increased 18% during the first half of 2022, mostly related to the higher sales to free customer, primarily due to the new contract, coupled with an improvement in sales to regulated customer. During the second quarter 2022, physical sales increased 10% as a result of higher sales to both free and regulated customer. Let's quickly see the EBITDA performance on the period by business line on page 16. As it was mentioned previously, our first half 2022 EBITDA decreased by 21%, mainly due to the performance of our generation business, which was affected by the increase in commodity prices worldwide and the drought that has affected the country and the consequence that this effect have had into the production costs and into the spot market. On the network business side, this had an increase of $41 million, mainly due to the reduction of the provision as a consequence of the technical tariff report published in the first quarter 2022 and the recovery of the demand during the 2022. Besides this effect, the one-off effect of the union agreement made in the first quarter 2021 had a positive effect in the OpEx this year. Others reflect mainly the holding OpEx of the period and the effect of the debt hedge. Now, on Slide 17, let me show you how our 2022 EBITDA guidance will be accomplished. During this presentation, Fabrizio indicated our portfolio center, elements, and strengths that make us reasonably confident that the current headwinds shall not jeopardize either our guidance or our long-term goals for our asset in Chile. Let me give you a few words on our Adjusted EBITDA guidance for the year end. As you may know, our generation business is quite seasonal. That is mainly related to the fact that from June- August, we start the rainy period in Chile, associated with the starting of snowing. At the beginning of our spring, during October, we start to have higher hydro generation in the country associated with the melting season. All these affect October, we start to have higher hydro generation in the country associated with the melting season. All these effects associated with the return of Argentine natural gas result in the reduction of the spot prices and higher generation of our hydro facilities, generating a higher EBITDA in the second semester of the year versus the first one. This seasonality that I've just introduced, associated with several active portfolio management actions in place and a better than expected hydro season year, supports our view that we will be able to meet this year's guidance. Next quarter, I should give you more detail on the evolution of our EBITDA performance and our actions. Now, on Slide 18, let's go through the main drivers of our group net income. Our first half adjusted net income amounted to $102 million, representing a flat variation versus the last year figure. The main variances are coming from lower Adjusted EBITDA, which decreased $82 million or 21%, mainly explained by the effect of higher commodity prices and its consequence in the spot market and variable cost and generation business. Higher goodwill impairment and bad debt by $28 million versus last year period, mainly related to higher depreciation and amortization in Enel Green Power assets, primarily explained by the exchange rate effect in the period, and the initial commissioning of a new solar power plant, and the higher depreciation in the distribution and transmission segment related to the new project and higher amortization of intangible assets related to the new commercial system recently upgraded at Enel Distribución. Also, we had a higher provision of bad debt in the distribution business, mainly due to the increase in overdue debt in the retail client and municipality. Financial results and equity investment recorded at $53 million, declining by $59 million in the first half 2022, mainly due to lower expenses related to the factoring executed in the first half 2021 in generation business on the accounts receivable that arose from the tariff stabilization law. Income tax decreased by $49 million, mainly related to a higher tax credit due to the higher monetary correction in the period, among the lower EBT results of the company and Badwill account in the first half 2021. The adjusted net income of the second quarter 2022 reached $15 million, which represents a reduction of $28 million in the quarter, mainly explained by the same aspect of the half. Moving to the FFO of the first half 2022 on Slide 19. The first half 2021 FFO amounted to a negative $219 million in the period. Mainly explained by the cumulative stabilization mechanism accounted for in the first half 2022 for $211 million, has reduced the cash conversion of the period. During the second quarter, this effect had a significant impact in our FFO, accounting for $144 million out of $211 million. The working capital in the period account for a negative impact of $187 million, mainly due to $57 million related to the delta payables in June 2022, mainly coming from the CapEx execution. $43 million related to the lower collection in Enel Distribución, mainly associated to the final turning on the commercial system update. Most of this impact shall be recovered within this year. Another effect in the period mainly related to $62 million referring to the cost of payment, not including the EBITDA adjusted, transmission tariff revision provision and bad debt. Let me just underline that regarding the work, working capital in 2021, it included the PEC factoring instrument that we have executing, totaling $189 million. Income taxes reached $35 million. With regard to the variation versus last year period, I would like to recall that last year numbers were impacted by FX losses, resulting in a lower payment of tax. Finally, the financial expenses amounted $100 million, related to the debt cost payment in the period. For what concerns the last figures, which include the expense related to the PEC factoring instrument that I have just mentioned. Moving to our debt on page 20, our gross debt increased by $665 million, amounting to $5.7 billion as of June 2022, due to intercompany loans provided by Enel Finance International to Enel Chile for $400 million, and third parties for $300 million in the 2Q 2022, offset by the amortization of Enel Generación Chile and amortization leasing contract. As of June 2022, 18% of our debt are SDG, linked to our CO2 Scope 1 path reduction for 2023 and 2024. In terms of debt amortization, our schedule remain comfortable, with an average of five year. For the current year, we have around $400 million debt at the Enel Chile level with AFI that has a maturity in December, and that we aim to renegotiate, looking at the opportunities in both local and international markets. Regarding the debt maturing in 2023, we will use the proceeds from the sale of transmission to repay this maturity. In terms of liquidity, we continue to have a comfortable position. We are reserving some available committed lines considering the possible headwinds in debt markets coming from the international conflict in Eastern Europe. Despite the increase in our debt, its average cost in June 2022 decreased to 3.9% versus 4.9% as of December 2021, as a result of our financial management carried out during the last month. As part of our goal to strengthen the sustainability of our balance sheet, we have put in place an asset rotation strategy focusing on optimizing our indebtedness and creating value for all the shareholders. Let me spend a few words on the recent material fact regarding the sale of Enel Transmisión Chile on Slide 21. As we have just informed the market, Enel Chile has signed today with Sociedad Transmisora Metropolitana SpA, a company 100% controlled by Inversiones Grupo Saesa, an agreement to sell its entire stake in Enel Transmisión Chile, equal to 99.09% of the share capital. In Santiago Metropolitan area, Enel Transmisión Chile operates 683 kilometers of transmission lines, managing 60 substations. The purchases and sales transition will be carried out through a public tender offer by the purchaser, Grupo Saesa, and it's subject to certain conditions precedent customary for this kind of transition, like the approval from the Chilean Antitrust Authority, Fiscalía Nacional Económica. The agreement provides the Grupo Saesa will pay an equity value of $1.345 million for the entire stake held by Enel Chile, equal to $1,526 million of enterprise value. The capital gain embedded in this transaction shall generate an estimated impact in our net income in 2022 of $783 million. The pricing is subject to a price adjustment mechanism based on the interest rate from January 1, 2022, until the launch date of the public tender offer mentioned before. The closing of the transaction is expected by the end of this year. The transaction is part of our asset rotation initiative, focusing on the capital recycling of our company and contributing to optimize our leverage. The timing and the pricing we have reached on this negotiation clearly express the quality of our portfolio and our continued path to unlock the value of Enel Chile. We are going to give you further update about the process in the next quarter call. What I can anticipate is that the sources we obtain in this operation shall be used as an input of a liability management we are pursuing for Enel Chile. Now, I will hand over to Fabrizio. Many thanks. Many thanks, Giuseppe. Just to point out some closing remarks. During our presentation, we have detailed the several actions we have taken to face the vulnerability of sectors to extreme externalities, starting from the impact of an international conflict in the commodities market. All these scenarios led to main messages for us. First, we are on the right path to continue conducting the energy transition through the decarbonization of our matrix and the electrification of the consumption. Second, continue to reshape our actions to bring value to all our stakeholders. The asset rotation transactions was released today, and our action plan gives us confidence that we will reach our 2022 guidelines. Let me be clear that there are no low-hanging fruits on this path, but we know that we are treading the right road, and we continue to unlock the value of our quality and resilient performance. Let me now hand over to Isabela. Thank you, Fabrizio. Let us open now the Q&A section. As anticipated, we will receive questions via phone or chat in the webcast, during today. Operator, please, you can start the Q&A section. As a reminder, to ask a question, you'll need to press star one one on your telephone. Once again, that's star one one. Please stand by while we compile the Q&A roster. One moment for questions. Our first question will come from the line of Murilo Riccini from Santander. Your line is open. Hello, guys. Many thanks for the call and information provided here today. Considering the levels of water and the snow stored so far in the reservoir and in the mountains, would it be possible to generate approximately 10 TWh of hydro generation this year? That is my first question. The second one is, could you provide us your view on the availability and prices of fuel during the second half of this year after this lower shipments that we are currently seeing to Europe? Do you believe or do you see the possibility that your gas provider cancel any gas shipments during the winter in Europe, even if they need to pay a fine, for example? The third question is, do you have any other asset rotation in process or under analysis? Thank you. Okay, let me go forward with the first two questions and let Giuseppe answer on the third one. Well, yes, we are quite optimistic on the second semester and we think that we could reach almost 10 TWh of hydro production this year. This is our best estimation today. Of course, the rainfall and snow season is not yet finished, so it depends also on how it goes on in the next week. As of today, this is our best estimation to be close to the 10 TWh that you mentioned. Second question. No. We don't foresee any problems in our gas supply. Our contract is very tight with many protective clauses in our favor in this case. No, we are not worried about any potential cancellation of shipment to our end. Giuseppe, do you want to. Yeah. Well, for what concerns possible other asset rotation, Murilo, I mean, we are always looking whatever opportunity could come up from the market. We don't have so far anything on the table, but as soon as something will concretize, for sure we're gonna share this information with everybody. Again, it's a regular process to look to our asset in order to find a way to unlock the value for the company. That is very helpful. Thank you. Thank you, Murilo. Operator, do we have another question on the line? Yes, one moment for the next question. Our next question comes from the line of Ezequiel Fernández from Balanz Capital. Your line is open. Hi. Good afternoon, everybody. Thank you very much for the materials. Very complete as always. I have four questions, and I would like to go one by one, if you do not mind. The first one is pretty much an accounting thing. We saw an unusual jump in the other operational expenses, P&L line, not related to fuel, which affected EBITDA. Could you please tell us a little bit what was behind this? May you explain exactly which line you are referring to because... Yes. Before getting to EBITDA, you have four different operational expenses lines. In the second quarter, the last one that says other operational expenses, that's the one that jumped quarter-over-quarter significantly. Umm- If it's too specific, I can take it by email with the investor. Yeah, maybe it's better because I'm not sure that I am understanding which line or which topic you are referring to. No worries. Yeah. No worries. We'll do that. Yeah. My second question is related to the Bocamina II shutdown, and what's the latest on the timing? To fulfill the schedule that was defined with the minister of energy. Of course, as you well know, it was expected to close it in May. We received an instruction, a formal instruction to postpone this at the end of September. To be honest, we don't see any reason to postpone again this deadline. Thanks to t he hydrological conditions that we commented, thanks to the availability of Argentine gas, because the system is not expected to be under stress anymore. For the rest, going forward, we have also to consider the, The current operation of the renewable plant. We don't see any reason why we should postpone again Bocamina closure. Okay, great. My third question, or actually topic, has to do with the sale of the transmission lines. I wanted to get a sense of how much tax you expect to pay on the gain of that sale, and when should Enel Chile pay that? Well, for what concerns the tax is gonna be paid next year. The amount of the tax, if you look at this, the capital gain impact, we are talking about around $350 million. But we have to consider that we have some losses that we can use in order to offset such amount in the. You know, we are estimating around $110 million. In a- In short, we are talking about $240 million-$250 million next year. Okay, perfect. Well, also, Giuseppe Turchiarelli mentioned that Enel Chile plans to use the proceeds from the sale to pay down, $1 billion debt amortizations due 2023. I wanted to know how much of that are intercompany loans. Well, let me say that all the funds which they are going to dedicate to the repayment of the loan. The criteria based on which we are going to select the loan that is going to be repaid are basically the expiration date and the cost associated to the like breakage fee of other kind of costs. I would say that a good portion of these, this amount is going to be used in order to repay the revolving credit facility that we got this year, during this year, and that they are going to expire next year. We are talking about most of them are intercompany revolving credits. Okay. Perfect. That's very clear. My final question is also, after selling the lines, collecting the cash, paying down the debt, I think you might still be a little bit above your comfort level regarding leverage. Is the Enel Group thinking about an eventual equity injection, a capital raise? Well, of course, I mean, and then the answer is going to have to be done by Enel S.p.A. For what concerns, I mean, what I know as of today is there is no plan of capital injection on the table in this case. Okay. That's great. Thank you very much for your time. Thank you. One moment for our next question. Our next question comes from the line of Henrique Peretti from JP Morgan. Your line is open. Thank you. Good afternoon, Giuseppe and Fabrizio. Thanks for the question. I have a couple of points. The first one would be, so if tax payment is about $250 million and the equity value is over $1.3 billion, so the cash inflow with the sale is going to be about $1.1 billion. Is that correct? The... Well, the- Yes. Isa. No, I would say just the line, Henrique. We weren't able to hear you, so you can just be closer to the line to be more easy to us to listen from here. The question was, if the equity value is $1.3 billion and the tax payment is about $250 million, so can we expect the cash inflow of about $1.1 billion with the asset sale? Yeah. Yeah. You have to consider that, of course, Enel Transmisión Chile has a loan, an intercompany loan owned by Enel Chile. Basically also this loan is gonna be paid. You know, net of tax, we are talking about CLP 1.1, roughly. Again, the correct amount for you know having the correct amount, we need to wait the end of public tender offer because there is a price adjustment mechanism that will change a little bit the amount of the equity value. You know, roughly this is. The calculation that you made is correct. Thank you. The second question would be if the annual EBITDA of the traditional business is still about $70 million. The third question would be, you mentioned the company could consider other opportunities in the market if they arose. My question would be, what type of assets would Enel actually consider selling or a minority stake in case other asset protection measures would have to be taken? Well, again, we used to evaluate all kinds of assets. Clearly, Enel Transmisión Chile was out of our strategy. You know that we are focused basically on the renewable and generation side and distribution side because of the size and together with the new services of Enel X. Having said that, it is clear that renewable projects are easy to split in the model. Distribution and Enel X is, you know, it's all together. We are analyzing everything. We still do not have a clear view of the potential opportunity, but if something will come up, for sure we're gonna do. Okay. Just to confirm the EBITDA of the transmission line. Thank you so much. It's around $70 million, if I'm not wrong. Give me a second. Yeah, roughly. All right. I'm not showing any further questions in the queue. I'll turn the call over to Isabela Klemes for any webcast chat system questions. Okay. Thank you, Victor. Thank you all for your questions. Now I go through the chat that we received several questions from different analysts and investors connected. One of the questions here, Giuseppe, is just to say again, like, the numbers of this transaction, the sale of Enel Transmisión Chile, no? Some analysts are requesting more details about the amount that we are expecting that is gonna be the cashing of this operation, and how much would be an estimate of the reduction of the net debt of the company considering this cashing. Okay. As I said, we are going to the projection that we have is to get after the payment of the tax to have around $1.1 billion. $1.1 billion that is going to be dedicated to the payment of the debt and to the distribution of the dividend related to the 30% dividend policy. We are talking about around $200 million dividend and around $900, $109 million of debt. Because again, on top of the amount that we receive as the GP value, we're gonna be paid also for the loan that is inside of Enel Transmisión Chile, that we estimate at the end of the year around $170 million. Basically, we're gonna reduce significantly our debt. Perfect, Giuseppe. On the term, we are also receive a question regarding dividends, no? The company is expecting to increase dividends related to the sale of this asset. We are going to increase the value of the dividend because we're gonna have this capital gain. We are not going to increase the dividend payout, that it will remain 30%. Since the 30% is mandatory in case of the company has positive results, we are going to distribute the dividend associated to the capital gain, after tax, clear. We are talking about roughly $200 million. Perfect, Giuseppe. Thank you. The other question that was made by Rodrigo Mora from Moneda is, he's requesting more details about Bocamina II. he's asking that the system is still very pressured due to the hydrology and commodities, and if you are indeed thinking of closing this facility now in September or if we're expecting to let this unit in the strategic reserve energy mechanism, Fabrizio. Yes, as I already mentioned, we don't see the system to be any more like under stress. This was also consistent with the greater refinement. I think that there's no reason to postpone again the closure of Bocamina. We were pretty clear since the beginning that we are not going to use the strategic reserve mechanism. We simply shut down the plant and finding an alternative user of the site. Perfect. Thank you, Fabrizio. We have more questions here, also from several analysts and investors regarding the LNG. First of all, what we are expecting regarding sales of potential trading sales of natural gas in the second half of this year? And if we can give a detail on how much was sold to Endesa or any other player that Enel has sold gas during the first half of the year. Also the other questions. Yes. Well, this is all the questions in terms of LNG and commodities. Fabrizio? Yes. Well, basically in the first half, approximately 15 TBtu was sold, out of which 10 was sold to Endesa Spain. The Endesa Spain deal was the last deal that was done last year in order to manage an expected surplus that we supposed to have during the first half of the year. Not a relevant contribution to the numbers I have mentioned during the presentation. While the other sales were more short-term, contributed to what I mentioned as an action to cope with the challenging scenario and putting something of our resilient. About the second half, we expect to have, as I mentioned, a significant surplus considering the combination of Argentinian gas availability and our long-term LNG contract with Shell. We expect at least another 10 TBtu to be available to sell in this second half. The good piece of news about that is that there are things that we had failed to do. We are trying to, of course, optimize the opportunity and to leverage on this very good market outlook about international gas. Thank you, Fabrizio. We have another question also regarding the CapEx. What we are seeing regarding CapEx for Enel Chile this year, if we are estimating any kind of a reduction in the CapEx or postponing to the next year? Well, for what concern the CapEx, as you probably know, you know, most of our projects are already under construction. Actually, all the projects are already under construction and committed. We are confirming the CapEx at the end of the year, for because of course we need the energy that this project is going to produce in order to improve our margins. As of today, we confirm that the CapEx is going to be in line with our Capital Market Day production. Perfect. Thank you. The final question here that we have is regarding the rating agencies. Have you had recent discussions with the rating agencies and what they are anticipating regarding the momentum of the company? Yeah. Well, we always are in touch with the rating agency. We discuss, and we pass all the message that we believe are needed for them. We discuss about the projection of the business, and the downside also about the evolution of the debt. I believe that we are in line with their expectation in terms of managerial action that are needed in order to deliver the company. We don't really believe that rating agency is going to give a negative feedback about the situation that we have today. We are fine with them. Okay. Thank you very much, Giuseppe and also Fabrizio, and thank you all for being connected today. In case you may have any other doubts or any other consultations, please let us know. As always, our investor relation team is gonna be available for any other information you may need. Thank you very much and have a nice day. This concludes today. Thank you for participating. You may now disconnect. You may now disconnect. Everyone, have a good day. Bye-bye.