Argentina Slaps Fines On Power Distributors For Blackouts
February 09 2011 - 4:33PM
Dow Jones News
Argentina's government will fine the country's top three power
distributors for allowing blackouts to occur in late December.
Planning Ministry Julio De Vido said Wednesday the fines apply
to Edenor (EDN); Edesur, controlled by Endesa SA (ELE.MC); and
Edelap, controlled by AES Corp. (AES).
Edenor and Edesur provide electricity in and around the City of
Buenos Aires while Edelap covers the area including La Plata in
Buenos Aires Province.
Argentina's national electricity regulator, ENRE, concluded that
the distributors were directly responsible for power outages
between Dec. 20 and 31.
Edesur faces a ARS64 million ($16 million) fine while Edenor
will have to pay ARS22 million and Edelap ARS1.9 million.
Those amounts include payments that the companies must make to
customers whose power was cut during that period.
De Vido said the companies must return any "damage fees" to
customers within the next billing cycle.
"We will have people on top of this," he said, seeking to assure
customers that the government will make sure the companies meet the
regulatory obligations.
Demand for electricity soared to a record level in December as
Argentines turned on their air conditioners en masse.
Demand for power rose 12.2% from the same month a year earlier,
according to the energy-development think tank Fundelec. Argentina
closed out the year with overall power demand up 5.9% from 2009,
according to Fundelec.
Apart from the hot summer weather, booming economic growth and
rising industrial production have been pushing demand for
electricity to record levels. Meanwhile, in the cold winter months
record numbers of people turned on their heaters last year,
boosting the annual power consumption figures.
In December, consumption totaled 10,125.7 gigawatt hours,
compared with 9,023.6GWh a year earlier.
-By Taos Turner, Dow Jones Newswires; 5411-4103-6728;
taos.turner@dowjones.com