This, as part of our efforts to incorporate non-conventional energy sources to our energy matrix, contributing to our goal of 900 megawatts operating and in construction by 2025. Additionally, the energy efficiency program has achieved the optimization of 3.4 megawatts and more than 2.5 thousand gigawatt hours, resulting in an emission reduction of 198,000 tons of CO2 equivalent and an energy cost efficiency of about COP 38 billion. The equivalent of an electric energy optimization of 5.9% accumulated from 2018 to date allows us to continue advising towards the target of 6.3% by the close of 2023. Also on this front, we highlight ongoing initiatives for the inclusion of technological tools throughout the operation, such as artificial intelligence applied to energy planning and optimization of power resources.
It’s important to mention that Ecopetrol, in response to the El Niño event, has prepared to meet the increased need of diesel required for thermal power generation. At the same time, we have been managing the entry of new renewable self-generation projects that contribute to reduce the energy requirements of national electric systems. Finally, we highlight two important initiatives to improve the welfare of the community. The social gas program, which in 2023 has connected more than 14,000 families to natural gas service in rural areas of Arauca and Guajira, and the extension of the micro LNG agreement in Buenaventura until November this year, giving support and reliability to the gas supply for 37,000 families in this area of the country.
I now pass the floor to our president, Ricardo Roa.
Ricardo Roa: Thank you, David. The transmission and growth business generated positive operational and financial results in the third quarter of the year. These results are leveraging the energy business in Brazil and Colombia and growth in Chile. This was reflected in 10% contribution to the group’s revenue, 14% to EBITDA, and 5% to net profit over the nine months of the year. Some of the most relevant milestones for the quarter include, first, the award through ISA CTEEP of Lote 1 in Brazil and three extensions with a referential capex of approximately COP 2.9 trillion, which will be invested gradually until the initiative of operations in 2029. Second, in Peru, the award of three projects through the Consorcio Transmantaro and the commissioning of the connections of the Nabucimache solar project and the connection to the Parque Portón del Sol, collectively adding 2,020 megawatts to the Colombian electrical system.
ISA continues to advance in the construction of 39 energy transmission projects in the countries where it has a presence representing over 7,190 kilometers of additional circuit to the network, which when operational will generate approximately $372 million in revenue. Finally, progress continues in the execution of the Ruta del Loa project and the works in the consessniories Ruta de la Araucanía and Ruta de los Ríos, which will generate new income and extensions of the concession terms. Let’s move on the next slide from the closing message. I want to close by recognizing the commitment of Ecopetrol employees to operational excellence and the transition to more sustainable future as reflected in these positive results. I want to remind all our shareholders, investors and stakeholders of our commitment to the investment plan outlined in the 2040 strategy.
This leads us to have a solid hydrocarbon business that supports the energy transition. With a strong routine and a clear vision for 2024, we are prepared to overcome the challenge. Ecopetrol continues to be a driving force for Colombia’s development, contributing to economic growth and the well-being of communities. Thank you everyone for being part of this journey. Finally, I open the Q&A section.
Operator: Thank you very much. We will start the session for Q&A. Andres Duarte is online with a question. Mr. Duarte, go ahead with your question. Mr. Duarte, you can go ahead with your question. While Ms. Andres is able to ask his question, we will have a question from Goldman Sachs.
Unidentified Analyst: [Interpreted] When do you expect accumulation for CPC accounts will be in zero?
Ricardo Roa: [Interpreted] Good morning. We will go into details with a report from Milena López. And in this period, we can tell you that we have advanced very significantly in closing this gap with the one we started this year in January with COP 33.4 billion. With the stabilization oil gaps with gains that was beyond COP 16 billion, with the help from the in money from COP 1.9 billion in resources assigned to the operation in the Cartagena refinery in the production of liquid oil. I give the word to Ms. Milena López, our CFO. Thank you, Ricard. Thank you, Joao, for your question. Yes, I give you a bit of context with the advantages of the FETEC and how we see it ahead. We have to underline the continuous diminishment of the third quarter, thanks to the increase of the oil prices by the national government.
We went from a 2022 with a balance of COP 37 billion with a FETEC that from this year, 2023, we expect to close with COP 20 billion and COP 21 billion. So, there is a continuous improvement that we see quarter from quarter. In this sense, we have had several increases in oil prices, several increases in oil prices. First one was in November, it was COP 600. We expect two more increases and this is going to bring oil to market prices. This is where it is going to be from these increases in oil prices, this would be closed. Next year, the national government has given the indication that progressively there will be the increases in diesel so that by the end of the year, we will have a diesel price according to market. This tells us that after December 2024, we will have no more accumulations of FETEC.
This is the important key problem. All the balances of FETEC have been paid the 12 months following the accumulation. There has been the policy of agreement with the government and it’s going to continue like this. We have COP 8 billion to be paid from here to the end of the year that we expect to receive the composite. This is going to be dividends already decreed around 5 million and there is another part which is going to be COP 2.9 billion that will be paid in cash. This was going to bring us to the end of the year of COP 20 to 21 billion to the end of the year. Thank you very much.
