The electric generators in AGEERA have sent a letter to Minister of Economy Luis Caputo, rejecting the payment of Cammesa’s overdue debt with bonds that trade at half their value. The companies argue that this payment method violates their contractual rights and affects their financial commitments and remuneration.

The Ministry of Economy published Resolution 58/2024, which resolved the pending payment for December and January with a bond AE38, representing a 50% reduction in the debt for energy subsidies owed by the Government to electricity generators and gas producers. However, AGEERA disagrees with this payment method, stating that it compromises their responsibilities as contractors and affects legal certainty in the wholesale electricity market.

The total debt that Cammesa has with energy and oil generators is $1.07 billion, which the Treasury must address. The companies argue that they signed contracts with CAMMESA under investment promotion regimes, any unilateral modification of which would have a significant impact on the electricity market and future investments. They find it unacceptable that the Government tied the payment of February debts to companies accepting payment of previous months’ debts through bonds when funds were available to pay them directly. Many generators have been forced to defer essential payments and maintenance due to this situation, affecting the operational continuity of the system.

In conclusion, AGEERA warns that this situation not only affects their financial capabilities but also threatens the normal development of their activity and critically compromises the operational continuity of the system. Their stance reflects concerns about how this payment method will impact future investments in the electricity market and calls for a resolution upholding legal security and protecting their contractual rights.