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    Minem bill promotes the participation of renewable energies in the electricity matrix

    March 27, 2023 - CE Noticias Financieras


      Legislative initiative of the Executive seeks to achieve lower and more affordable prices for electricity delivered to residential users.

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      The Executive Power submitted to the Congress of the Republic Bill No. 4565/2022-PE, with the purpose of promoting greater competition in the supply of energy for electricity supply, as well as to promote the diversification of the electricity matrix, encouraging greater investments in non-conventional renewable energies.

      The initiative aims to achieve lower and more affordable prices for electricity delivered to regulated users, which are mainly residential users, and for this purpose it seeks to amend Law No. 28832, Law to ensure the efficient development of Electricity Generation, enacted in 2006.

      In this respect, the Ministry of Energy and Mines (MINEM) pointed out that the implementation of this initiative will allow increasing the participation of electricity generation with non-conventional renewable resources (mainly solar, wind, biomass) in the electricity matrix.

      This will make it possible to offer better prices for electricity supply, which will result from greater competition in the bidding process, and its benefits are expected to be reflected in lower public electricity service tariffs.

      Likewise, the use of non-conventional renewable energies will contribute to the reduction of carbon emissions, and will make possible the arrival of investments in new generation projects, with a multiplier effect on the national economy.

      "The approval of this bill will mark the beginning of the modernization of the electricity sub-sector, which will enable the deployment of smart grids, distributed generation, electrification of transportation and also the promoted production of green hydrogen, for the benefit of all consumers, residential and productive sector of the country," said Jaime Luyo, Vice Minister of Electricity of the Minem.

      This Bill is the result of a participatory process promoted by the MINEM, which began with its pre-publication in June 2022, in order to collect comments and suggestions from agents and stakeholders, which have been evaluated by the technical regulatory body and by the corresponding instances of the sector.

      The process has concluded with the approval of the legislative proposal by the Council of Ministers and has been submitted to the Congress of the Republic as a legislative initiative of the Executive Branch, as established in the current legal framework.



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