Argentina energy companies hike costs after freeze since 2019 By Reuters

© Reuters. FILE PHOTO: An condo constructing is seen behind an Edenor electrical firm energy distribution plant in Buenos Aires BUENOS AIRES (Reuters) – Argentina’s main energy distribution companies Edenor and Edesur will hike electrical energy costs by 9% in and across the metropolis of Buenos Aires, the nationwide regulator stated on Saturday, the primary



© Reuters. FILE PHOTO: An condo constructing is seen behind an Edenor electrical firm energy distribution plant in Buenos Aires

BUENOS AIRES (Reuters) – Argentina’s main energy distribution companies Edenor and Edesur will hike electrical energy costs by 9% in and across the metropolis of Buenos Aires, the nationwide regulator stated on Saturday, the primary rise since a tariff freeze in 2019 to assist tamp down inflation.

The Nationwide Electrical energy Regulatory Entity (ENRE) stated in an announcement that the worth enhance, coming into impact from Saturday, was wanted to “assure the continuity, accessibility and regular provision of this important public service”.

Argentina’s Peronist authorities has stored energy costs frozen because the finish of 2019 when it got here into energy amid excessive inflation that’s operating at an annual charge of above 40%, which weighs on progress and shopper spending energy.

“Since December 2019, the federal government of the Frente de Todos has prioritized the necessity to cut back the affect of charges on the buying energy of households, companies and industries, within the context of an financial, well being and vitality emergency,” ENRE stated.

The query of electrical energy costs had brought about tensions between utilities companies and components of the ruling coalition who wished to keep away from a value hike amid rising poverty ranges within the recession-hit South American nation.

Edenor holds a concession masking 4,637 sq. kilometers in Larger Buenos Aires and the northwestern space of the Argentine capital, which has round 9 million residents.

Edesur serves an space of three,300 sq. kilometers within the southern space of the capital and in 12 city districts that encompass it.

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