Argentina to buy electricity from Brazil due to storm

Argentina to buy electricity from Brazil due to storm

Following the disruption caused by last weekend’s storms to the country’s grid, Argentina will import electricity from Brazil on a transitory basis, it was reported Sunday, in addition to other emergency measures adopted to face the crisis and restore supply in parts of the Autonomous City of Buenos Aires (CAMA) and its Metropolitan Area (AMBA).

“It is estimated that for the Buenos Aires Metropolitan Area, according to information from the distributors, most of the service will be restored within 24 hours, while the rest will be in 48/72 hours,” authorities said in a broadcast message.

“The maximum collaboration of Argentines is requested in the rational use of electrical energy in this situation,” they added.

In this scenario but in accordance with plans from before the storm, the administration of President Javier Milei was said to be drafting an emergency decree providing for an emergency declaration of the electricity sector and its subsequent adjustment in the price to consumers.

A Decree of Necessity and Urgency (DNU) is to be published in the next few hours in the Official Gazette, according to local media.

“Having evaluated the situation in which the energy system receives and the conditions that are projected for the future, it is necessary to adopt short, medium, and long-term measures that allow continuity in the provision of public services of transportation and distribution of electrical energy and natural gas, and ensure the supply,” the document was reported to read.

The DNU will thus declare in Article 1 the emergency of the National Energy Sector concerning the generation, transportation, and distribution of electrical energy under federal jurisdiction, transport, and distribution of natural gas until Dec. 31, 2024. The new fares will become enforceable no later than Dec. 31, 2024, it was also explained.