Argentina to streamline energy policies

BUENOS AIRES, April 21, 2017 – On Thursday, Argentinian President Mauricio Macri signed the Federal Energy Agreement, intended to further co-operation in the development and implementation of energy policies at Argentina’s provincial and federal levels.

Under the agreement, the provincial and federal governments will work together to improve the supply and distribution of energy throughout the country and move “towards a more reliable, inclusive, competitive and environmentally sustainable energy sector.”

A Federal Energy Council will be established under the Ministry of Energy and Mining to oversee this co-operation. The council can submit policy proposals to ensure that the objectives of the Federal Energy Agreement are met.

All governors from Argentina’s provinces signed the agreement, with the exception of those from the provinces of Tucumán, La Pampa, San Luis and Misiones.

Following the signing of the Federal Energy Agreement, President Macri told reporters that power cuts in the country have fallen 45% since he took office in December 2015. He also stated that the renewables target in Argentina’s energy matrix would be 9% by the end of 2018, a substantial increase from the 2% share that renewables currently contribute.

Additionally, President Macri defended recent energy price increases, saying that competitive prices would allow Argentina to draw in USD 20 billion per year in investment.

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