The Government hopes to reverse this year a significant deficit in the energy trade balance and report a surplus of US$100 million, Energy Secretary Flavia Royon said on Friday. It should be noted that in 2022 there was a deficit in the energy trade balance of US$4,550 million.
“The balance of the energy balance was negative for US$222 million in the first five months of 2023, which implied a decrease of 84.4% year-on-year, thanks to a strong setback in the imports“, says the private report. The consultant points out that “In the first five months of 2023, oil production grew 10.6% year-on-year after climbing to 625,500 barrels per day.”
On the other hand, the private report stated that, in the same analysis period, natural gas production climbed to 130.2 million cubic meters per day, which translates into a slight growth of 0.7% year-on-year.
Impact of the devaluation on the cost of energy
The Secretary of Energy of the Nation, Flavia Royon, said that the impact of the devaluation on the cost of energy generation is around 10%and that it is being studied to transfer this to the bill of the high-income segment.
“The impact of the devaluation on the cost of energy generation is approximately 10%; we are going to speak with the Minister (of Economy) Sergio Massa to see if this is transferred to the bill only for the high-income segment or there is some kind of update, that is under study,” Royon said this morning in statements to Radio Universidad de Córdoba.
He argued that despite the impact of the devaluation, “With the first section of the gas pipeline (Néstor Kirchner) there is a drop in the cost of generation by being able to use more gas from Vaca Muerta.” “Specifically, of the value that we have been bringing, the increase is only approximately 10%,” he remarked.
On the other hand, he referred to the freezing of fuel prices and stated: “We trust that the entire sector will do so, that was the agreement we have reached; the national State provided a portion of tax benefits.”
“We understand that until October 31 there should be no new fuel increases and we trust that the sector will comply with it”he added.
Source: Ambito
