Written in PRESENT he 9/19/2023 · 5:00 p.m.
The National Government will promote a increase of energy rates in November. After the elections, there will be an increase in rates electricity and gas, as confirmed by Gabriel Rubinstein, Secretary of Economic Policy of the Ministry of Economy.
The rates are greatly delayed: although they should rise by 54% to catch up with general inflation, for September it projects an increase of around 11%. And freezing prices is part of the measures undertaken by the Minister of Economy.
“The decision was made to postpone the rate increases hoping that the situation would calm down,” the official explained, reporting that the increase will be applied after the Elections. “There is a planned increase in November, there the path will be resumed,” he added.
Regarding the September rate increase, Gabriel Rubinstein referred to the “price remarkings” that occurred on the Monday after PASO 2023 and explained that “the decision was made to postpone the rate increases hoping that the situation calms down.”
In any case, Gabriel Rubinstein did not provide more details regarding how much the increase nor what categories it will impact. The Government, meanwhile, committed to “adjust electricity prices from September 1, for low- and medium-income residential users, in accordance with legislation and agreed cost recovery objectives.”
What happens after the October 22 elections with the unfreezing of rates will be one of the most important points to approve the November review with the IMF and access the SDRs that remain for the rest of the year.