Enarsa, the state energy company that is on their way to privatized, launched an auction to sell the imported gas to generators, marketers and industries, but did not get offers. The high price at which they would buy and The impossibility of transferring it to the rates mark the refusal in the decision of the distributors.
The energy firm asked the Electronic Gas Market (MEGSA), a platform controlled by the Buenos Aires Stock Exchange, which enables the auction. It is a process that is repeated since last year: It consists of offering firm natural gas Imported that part of the regasification of the LNG that enters by Escobar, where the receiving ship is.
It was planned to obtain offers of generators, marketers and industries to receive gas from May 15 and pay the total cost. The minimum price of the compulsa was $ 14.86 per million BTUbut there was no purchase offer and declared deserted.
Since last year, ENARSA requests auctions to be carried out through the Megsa that they do not get buyers, so the state company must continue with its historical operation which includes the import and subsequent sale of the imported gas to the distributors.
The national government had raised the objective of Transfer the total cost to the private which includes the average value of the import of gas, plus regasification and financial costs. At present, the state absorbs almost the entire cost of gas during winter demand peaks.
Despite launching these compuls, the same stage was presented last year: ENARSA could not award gas purchases and had to face much of the costswhich translates as energy subsidies. According to data from the Economy and Energy consultant (E & E) during the first two months of 2025, the subsidies covered the cost 83% of the electric wholesale cost, and 82% of the pist.
-In winter, The domestic market pays to Enarsa around $ 4.50 per million BTUjust a third of the total minimum resale price established in the auctions. Meanwhile residential users pay for the pist (price to the entrance point to the transport system) $ 3.1 The unit, according to the latest tariff tables approved by the Enargas.
Companies, not having a guarantee that costs will be able to be transferred (passthrough) to «the rates paid by residential demand, No distributor will dare to raise his hand (at auctions) in the risk of greater losses«, It is read in the last report of the specialized consultant Paspartú.
LNG does not have who bought it: the role of enarsa in energy subsidies
Started the privatization of the company, deserted auctions are not a minor detail. ENARSA works like Instrument for the Ministry of Energy by concentrating gas subsidieswhich start from large expenditures to cover the price difference between the purchase of LNG and the sale in the domestic market.
So the challenge to advance definitively with privatization is “cleaning their commercial balance,” they said from Paspartú. This objective is in line with the requirement of the International Monetary Fund (IMF) of reduce subsidies to energy arrived October.
However, it is a complex challenge to meet. From Nation they estimate that it will be necessary to import about 1.6 billion cubic meters of natural gas in 2025. This is equivalent to the import of 29 LNG ships for 2025while 30 shipments were bought last year and two were returned.
The similar level of imports in terms of ships indicates that the erogations through enarsa will be maintainedand could be even greater than 2024.
