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Empresas Públicas de Medellín E.S.P., whose brand is EPM, is a state owned company located in the city of Medellín, Colombia, unique property of the Municipality of Medellín. It was founded in 1955 as an independent public institution, and transformed into Industrial and Commercial State Company of the municipal order, by decision No. 069 of December 10, 1997 issued by the Board of Medellín.
Because of its nature, such as Industrial and Commercial State Company, EPM E.S.P. is endowed with legal personality, administrative and financial autonomy and independent capital in accordance with Article 85 of Law 489 of 1998. In connection with its acts and contracts, and as a utility compan regulated by Law 142 of 1994, EPM E.S.P. is governed by the rules of private law except as provided expressly in the Constitution of Colombia, the law and other regulations.
Its primary domicile is in the municipality of Medellín, but by order of its Board of Directors and in accordance with the content of its bylaws, it may establish branches anywhere in Colombian territory or abroad. The bylaws in force for EPM E.S.P. are contained in Decision 12 of 1998, as amended by Decision 32 of 2006.
It operates in the water (and sewerage), electricity and gas sectors. It is legally empowered to also act in the telecommunications and garbage collection sectors.
Its natural market is the city of Medellín, with 2,600,000 inhabitants, a city that is part of the Metropolitan Area of Valle de Aburrá, a conglomerate of nine other suburban municipalities with a million additional inhabitants. The Department of Antioquia is formed, in addition to its capital Medellín and its metropolitan area, by 115 other towns and rural areas, with another 2 million inhabitants.
EPM is the parent company of a business group formed, besides itself, of another 44 companies, all joint stock companies in which it has majority stake and management control through presence on their respective boards of directors. According to Colombian law, a corporate group is a conglomerate with subordinate relationship by reason of ownership of the entities that comprise it, and with unity of purpose and direction.