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Energy – Resolution 134/2015.

By Amalia Saenz.

On December 17, 2015, Resolution No. 134/2015 (hereinafter, the “Resolution”) issued by the Argentine Executive Branch was published in the Official Bulletin; the Resolution declares a state of emergency in the Argentine Electric Sector, effective until December 31, 2017.

The Resolution instructs the Ministry of Energy and Mining (hereinafter, the “Ministry”) to prepare and implement an action plan intended to foster the electric power generation, transmission and distribution sectors nationwide.

The agencies of the Argentine Public Administration shall coordinate with the Ministry a program for rationalizing consumption or such measures that, within their respective spheres of competence, are conducive to guarantee service quality and reduce power failures.

The Resolution seeks to promote competitiveness in the electric power production and demand markets, encouraging long-term investments and creating a schedule of rates that results in an efficient and rational consumption by the different sectors and types of users.

It is basically focused on the need for a prompt materialization of more efficient power generation projects that diversify the energy matrix and manage to reduce dependence on fossil fuels and, in particular, the import of natural gas.

Finally, supplementary regulations are expected in the short term that implement the mechanisms for development and production proposed in the Resolution.

For further information, please contact Brons & Salas or Amalia Saenz at (54-11) 4891-2835, e-mail: asaenz@brons.com.ar.