He Government of Argentina This Thursday, April 25, 2024, it offered to pay part of the State’s debt with electricity generating companies with public bonds, official sources reported.
The proposal was presented at a meeting of the Argentine Minister of Economy, Luis Caputowith representatives of the companies.
The problem is that, within the framework of the severe fiscal adjustment undertaken by the Government of Javier Mileythe Wholesale Electricity Market Management Company (Cammesa) has stopped receiving the necessary funds from the State to pay electricity generating companies.
The proposal involves the delivery of public securities for an approximate amount of 600 billion pesos, about 672 million dollars. Part of the nominal value to pay off the debts corresponding to December 2023 and January 2024.
In addition, the Government informed the companies that the february payments from now on “they are being normalized,” according to sources from the Ministry of Economy.
The Executive hopes that with this proposal and the normalization of payments “the sector can focus, with stability and predictabilityin improving the service for users.
Cammesa It draws on resources from the Treasury and electricity distribution companies to pay energy generating companies and electricity transporters.
But, since the decision of the Milei Government to apply a ‘shock’ fiscal adjustment plan, with strong cuts in public spending, Cammesa It stopped receiving part of the transfers from the State, while it also receives less funds from the distributors.
Generators and transporters had warned that this situation put “the normal supply of electricity at serious risk.” EFE