This moratorium differs from the previous one because there is no lower interest rate or grace period (in the previous version there was a grace period of up to six months and an interest rate equivalent to up to 50% of that in force in the MEM).
Each fee will be paid in pesos for the equivalent of the value of megawatt hours (MWh), according to the result of the plan’s monetization formula.
In the previous moratorium, materialized in the last quarter of 2022, Agreements were signed with 16 distributors throughout the country to regularize a debt of $211,000 million.
According to the resolution, the MEM Distribution Agents reached may implement the plan and sign the Agreement Minutes with Cammesa until February 28, 2023.
Once the term has expired, Cammesa must initiate or continue the administrative and/or judicial actions, as well as all the necessary operational and legal measures.
Likewise, it will be a condition for the implementation of the plan that the MEM distribution agents unconditionally waive any right, action or administrative, judicial, extrajudicial or arbitration claim, in Argentina and/or abroad against the National State or any of its dependencies and/or Cammesa.
Failure to comply with the payment obligations, both of the totality of Cammesa’s current billing from the subscription of the respective agreement that implements the plan and/or the non-payment of two installments by the MEM distribution agents , will imply the automatic resolution of the signed agreement.
Source: Ambito
