Argentina announces big hikes in electric ratesStaff writer ▼ | January 30, 2016
The Argentine government announced big hikes in wholesale electricity rates from February, although it is not clear how much retail customers will end up paying.
Electricity The decision by the Energy and Mining Ministry:
The new rate structure will provide the basis for establishing the price of electricity bills for end-users, figures that will be released in the coming days.
According to the Telam news agency, the rate increase will be 200-300 percent for big users, while this will be reduced if consumption is less than 300 kilowatts per month.
The ministry justified the cost increase by noting “the existing disconnect between real costs and prevailing prices.”
The administration of Mauricio Macri last December had anticipated that it would gradually reduce the funds allocated to the state to subsidize household consumption of gas and electricity. ■