argentina energy sector
Electricity prices for consumers will gradually increase throughout the year.
Argentina's fuel and energy exports rose sharply following extensive energy sector privatization in the early 1990s. Sixty percent of electricity is generated from fossil fuels.
It declared 2017 the year of renewable energy and the Ministry of Energy launched an innovative renewable energy bidding program called RenovAr. A new legal framework for renewable energy was passed in 2015 that put into place these targets, created FODER (the government Renewable Energy Fund), and established fiscal incentives and competitive and transparent market rules to attract international investors.
The National Promotion Direction (DNPROM) within the Energy Secretariat (SENER) is responsible for the design of programs and actions conducive to the development of renewable energies (through the Renewable Energy Coordination) and energy efficiency (through the Energy Efficiency Coordination) initiatives.
The World Bank Group (WBG) supported the government of Argentina to design the RenovAr program, based on estimated needs and financing available, and to develop standardized legal documents for RenovAr auctions.
For commercial and industrial users the increase will be 10%.At the end of August 2008, ENRE also approved increases in Electricity tariffs in Argentina are well below the In 1991, the Government of Argentina created the National Fund for Electric Power (FNEE, In addition, CAMMESA, the administrator of the wholesale electricity market, had projected that by 2007 the country's energy demand would require an additional capacity of 1,600 MW. Argentina's energy resources are abundant and diverse. Recovering the regional integration opportunities with neighbors such as Chile and utilizing infrastructure that was idle for many years is an important milestone and also bodes well for proponents of Argentina evolving into a liquefied natural gas exporter in the near term.
In two renewable-energy auctions in 2016 which aimed to attract 1,000 megawatts worth of new renewable energy projects, they ended up with bids for more than six times that amount a signal of confidence from local and international investors.
Just after the beginning of the year, the government announced plans for further reduction in consumer subsidies in an effort to maintain fiscal austerity and redress deficits. However, buoyed by the populist economic policies of former President Nestor Kirchner and his successor, Cristina Fernandez de Kirchner, consumers continued to devour subsidized oil and natural gas, further increasing internal demand. Organized by @iamericas @IPDLatinAmerica @ipd_mx @GEP_EventsNon-Profit Executive Richard Kiy named Institute of the Americas’ new President and CEO http://bit.ly/37XWcI5 #leadership The virtual "#Madrid #Energy Conference" September 28-October 2. The In regard to transmission, the Federal Plan for Transport of Electric Energy at 500 kV is under implementation under the umbrella of the FFTEF (Fondo Fiduciario para el Transporte Eléctrico Federal).In addition, the Federal Plan for Transport of Electric Energy II, defined in 2003 and updated in 2006, has the objective of addressing the constraints faced by the regional transmission networks in the period up to 2010. 39 To put this in context, at current consumption levels, these resources have the potential to satisfy Argentina’s energy demand for another 150 years.
To reassure private investors, IBRD structured a $480 million guarantee in support of the government’s Renewable Energy Fund (FODER) that reduces financial risks for investors and helps create a new market for private investment in renewable energy in Argentina. Its target: to produce 20 percent of Argentina’s electricity from renewable sources by 2025, with intermediate targets of 8 percent by 2018 and 16 percent by 2021. The program also recognizes the need for individual behavioral changes to be promoted with an educational strategy, with the public sector setting the example by assuming a leadership role in the implementation of energy conservation measures in its facilities.The PRONUREE includes short- and long-term measures aimed at improving the energy efficiency in the industrial, commercial, transport, residential and service sectors and public buildings.
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