Argentina's Macri to Raise Frozen Utility Bills to Close Deficit
- Electricity, nat gas tariffs to be increased in coming weeks
- `Country must save in energy to reduce deficit,' minister says
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Argentina’s energy tariffs, which have been frozen for more than a decade, will be allowed to increase as new President Mauricio Macri’s government attempts to close the largest fiscal deficit in more than 30 years.
Tariffs on electricity and natural gas will be raised after mandatory public hearings in the next few weeks, Energy & Mining Minister Juan Jose Aranguren told reporters at an oil industry event in Buenos Aires on Monday. Utility company Edenor’s shares in New York jumped 3.2 percent after the announcement.