Argentina power firms hike prices after freeze since 2019

Buenas Airses

Argentina’s major power distribution firms Edenor and Edesur will hike electricity prices by 9% in and around the city of Buenos Aires, the national regulator said on Saturday, the first rise since a tariff freeze in 2019 to help tamp down inflation.

The National Electricity Regulatory Entity (ENRE) said in a statement that the price increase, coming into effect from Saturday, was needed to “guarantee the continuity, accessibility and normal provision of this essential public service”.

Argentina’s Peronist government has kept power prices frozen since the end of 2019 when it came into power amid high inflation that is running at an annual rate of above 40%, which weighs on growth and consumer spending power.

“Since December 2019, the government of the Frente de Todos has prioritized the need to reduce the impact of rates on the purchasing power of families.—Reuters

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