A government resolution authorized an increase in the government subsidies to Edesur and Edenor, the two electrical companies in charge of supplying electricity to Buenos Aires.
One reasons for the decision was found in the companies’ books. The data reveals both companies are deeply in the red; Edesur lost ARS $1,300 million last year, while Edenor had a ARS $1,100 million deficit. Both needed loans from the government to pay for salaries and maintenance work during the summer, which didn’t stop the massive power outages that continue to plague the city.
The good news is that the subsidy won’t affect your electricity bill. We’ll have to wait and see if this has a positive impact on the power supply. But with the Yacyretá Dam, which generates 15% of the country’s power, not fully operational due to lack of maintenance, you might want to go ahead and stock up on candles for the time being.