Rates: postpone the announcement of the entry into force of the segmentation and the cap to the subsidy

Finally, the Secretary of Energy postponed the announcement, scheduled for today, of the entry into force of the new subsidy scheme to the consumption of gas and electricity. The measure includes the segmentation and the consumption cap by area and sector, but It’s been rescheduled for tomorrow, Friday.

This was reported by official sources, who indicated that today’s session will focus on the spread of the Consumer Price Index (CPI) that INDEC will release this afternoon, a figure that would show inflation around 7.5% at month, the highest record since 1991.

Regarding the subsidy scheme, Economy Minister Sergio Massa announced last week that they will be added to the segmentation of consumption caps to promote tax savings of up to $ 500,000 million.

From 400 kilowatts per month, users have to pay the rate without subsidies, which means an increase in the cost of the service in the bill. Authorities reported that 9 million have asked for the benefits to be maintained, while 4 million have not signed up.

The removal of subsidies is one of the measures agreed with the IMF last March. In their latest report, staff called for a further increase in rates and a reduction in expenditure of 7.8% of GDP, including pensions. Massa confirmed that he intends to reach the goal of 2.5% primary deficit.

The government argues that energy imports to meet demand are the main cause of the central bank’s loss of reserves. “Those who consume less or have less income pay less; those who consume more or have more income pay more,” Massa said last week.

According to Massa, “the segmentation and the subsidy ceiling will have a federal criterion with understanding of the climate”, and for this reason, he specified, the entry into force will be by sector and area.

Sergio Massa goes to Neuquén for the new law on hydrocarbons

The Minister of Economy, Sergio Massa, is visiting the province of Neuquén this Thursday where it will announce measures to promote oil and gas productionas part of the Argentina Oil & Gas (AOG) Patagonia fair which takes place in the provincial capital.

During his visit to Neuquén, Massa will hold a meeting with the provincial governor, Omar Gutiérrez, and national deputies of that jurisdiction. for the draft of the new law on hydrocarbons. He will also meet business people from the industry.

With this regulation, it seeks to capture foreign currency up to US $ 5,000 million and thereby calm the pressures on exchange rates. The idea is for businesses to increase production and exports by granting benefits, such as prepaid VAT refunds and early repayments, according to official sources.

Massa and his team have worked on several DNUs that include the hydrocarbon, agro-industrial and mining sectors, among others. The decrees do not contemplate strictly fiscal or fiscal incentives because in that case they would have to pass to Congress through a bill.

In addition, the minister will today announce four Vaca Muerta unconventional hydrocarbon investment announcements and industry regulations. The disbursements would have the consent of the United States, whose ambassador Marc Stanley received Massa last Sunday.

Among the problems to be analyzed there is also the filling of the Néstor Kirchner gas pipeline, which could transport 11.5 million cubic meters per day. Yesterday the first contracts were signed to start work on the first section of the project that will connect Vaca Muerta with the province of Buenos Aires.

Massa went to Neuquén accompanied by the energy secretary, Flavia Royón, appointed last Sunday in place of Darío Martínez. Similarly, Federico Bernal held the Secretariat of Hydrocarbons and Santiago Yanotti the Undersecretary for Electricity, in place of Federico Basualdo.

The AOG Patagonia 2022 Expo is organized by the Argentine Institute of Oil and Gas of the Argentine Republic (IAPG) and is a replica of the annual exhibition organized by the same institution in La Rural last March, where the main players in the sector were present. exercise.

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