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The Government confirmed that in June they will pay the debt with the energy companies

The Government confirmed that in June they will pay the debt with the energy companies

President Javier Milei said this after a meeting headed by the Minister of Economy, Luis Caputo, where the operators were offered to cancel payments owed between December and January of this year.

Javier Milei confirmed that starting in June the debt with CAMMESA will be paid. He said this in a radio interview after answering the question about the debts that allowed the fiscal surplus to be consolidated.

“Cammesa payments will be made starting in June,” stated the President in dialogue with Radio Rivadavia.

Last week, the Government presented a proposal to gas producers and electricity generators to cancel CAMMESA’s debts, the wholesale energy company. After a meeting headed by the Minister of Economy, Luis Caputo, the operators were offered to cancel the payments due between December and January of this year by delivering public securities for an approximate amount of 600 million dollars (at nominal value). .

During the meeting, the minister reminded the companies that the current administration took charge of CAMMESA’s unpaid transactions recorded between October and November of last year. “It was with own funds,” he told them.

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During the meeting, the minister reminded the companies that the current administration took charge of CAMMESA's unpaid transactions recorded between October and November of last year.

During the meeting, the minister reminded the companies that the current administration took charge of CAMMESA’s unpaid transactions recorded between October and November of last year.

The Milei Government once again celebrated a primary and financial surplus but sustained based on the postponement of some accounts. Among them, what is owed to CAMMESA. “By resolving the debts generated by the energy policy of the previous administration and normalizing the flow, the National Government trusts that the sector can focus, with stability and predictability, on improving the service for users,” they indicated from the Treasury Palace.

What bonus was offered to the oil companies?

The generators that accumulated debts in pesos were offered a bonus type dollar linked, although for half the nominal value of the liability. In both cases, What is revealed is that the government wants companies to accept a reduction of 50% of the capital they should collect, according to reports.

At this Thursday’s meeting they only discussed the cancellation of Cammesa’s debt. It remains to be seen what the government will do with the debt held by producers due to non-compliance with payments under the Gas Plan, which explains a State liability of another US$900 million.

Source: Ambito

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