ENARGAS made official the postponement of increases in gas rates in May

ENARGAS made official the postponement of increases in gas rates in May
ENARGAS made official the postponement of increases in gas rates in May

The National Gas Regulatory Entity made official, through the publication of resolution 224/2024, the postponement of the entry into force of new increases for natural gas supply rates that, in principle, were going to govern from the month in course.

The Enargas controller, Carlos María Casares, ordered “to keep unchanged (in May) the transition rate tables and rates and charges for services in force since April 3.”

Likewise, the Entity notified the licensees of the public gas Transportation and Distribution service and Redengas SA (subdistributor) of the decision to postpone such increases.

Resolution 224 comes to comply with an instruction given last week by the Minister of Economy, Luis Caputo, to the Secretary of Energy, Eduardo Chirillo. At Enargas they had already prepared the new tariff tables that contemplate a strong increase in the price (in dollars) of PIST gas (Put at the entrance to the transportation system), and also increases (in pesos) in the tariff components for Transportation and for Home distribution of this input.

In the recitals of R-224, reference is made to the reason for this postponement, describing that it aims to “consolidate the disinflation process carried out by the Government, verified to date”, which is why “it is reasonable and prudent to postpone the month of May the effective application of the updates provided in the resolutions of the Entities”, also referring to electricity, ENRE, and the increase in the PEST (Seasonal Price of Electricity).

R-224 refers to the fact that the Minister of Economy adopted the decision “within the framework of the powers conferred upon him by DNU 55/2023” (Emergency in the energy sector), and indicates that they should proceed “exclusively to the postponement in the month of May of the application of the updates”, for the consumption of said month.

These are “transitory” updates planned by the Ministry of Energy while progress is made with the Comprehensive Tariff Review (RTI) that is supposed to be concluded by the end of the year.

It is also planned to activate the new prices for Transportation and for the Distribution of gas and electricity to have their amounts updated monthly. Energy plans to continue with an elimination and/or reduction of state subsidies to residential users of these services.

Last week it emerged that the government would be considering keeping, at least the current gas rates, unchanged during the winter, months of high demand for seasonal reasons.

“We have not made any determination yet, but it could happen,” responded the presidential spokesperson, Manuel Adorni, to a journalistic query regarding such a possibility.

The definition of When is related to the economic evaluation of the inflationary impact of these adjustments, and to the evolution of the reduction of the fiscal deficit, priority issues for the Milei Administration.

In Casa Rosada, Adorni pointed out that since there is a surplus, the Government has more slack to allow itself to extend the entry into force of the rate increase.

The Spokesperson maintained that “the shock public spending cut that we made to balance the accounts had faster results than expected.” “When you have a fiscal surplus, you can dose how the weight (of the adjustment) should fall on certain sectors of society and not put a sword on their necks,” he said.

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