{"id":806,"date":"2014-04-10T23:32:15","date_gmt":"2014-04-10T23:32:15","guid":{"rendered":"https:\/\/www.kierjoffe.com\/news\/?p=806"},"modified":"2018-07-19T15:38:13","modified_gmt":"2018-07-19T18:38:13","slug":"argentine-utilities-surge-first-rates-increase-since-1999","status":"publish","type":"post","link":"https:\/\/www.kierjoffe.com\/news\/lawyer-argentina-attorney-buenos-aires-law-firm\/argentine-utilities-surge-first-rates-increase-since-1999\/","title":{"rendered":"Argentine Utilities Surge on First Rates Increase Since 1999"},"content":{"rendered":"<p>Bloomberg.com By Camila Russo<\/p>\n<p>Argentine natural gas distributor shares are having their best week since October after the government allowed the first rate increases in 15 years.<\/p>\n<p><a title=\"Get Quote\" href=\"http:\/\/www.bloomberg.com\/quote\/TGNO4:AR\">Transportadora de Gas del Norte SA<\/a>\u00a0shares have jumped 18 percent this week, the most since October, and were up 4.1 percent today to a six-year high of 2.02 pesos at 4:08 p.m. in Buenos Aires. Metrogas SA shares have rallied 13 percent this week to 1.98 pesos, the highest since 2004.<\/p>\n<p><a href=\"http:\/\/topics.bloomberg.com\/argentina\/\">Argentina<\/a>\u00a0froze utility rates in 2002 to help fuel economic recovery after a financial crisis drove the country to default on $95 billion. While natural gas prices have been largely capped since, inflation at around 25 percent made costs surge, eroding companies\u2019 income. This week\u2019s increase is a step toward improving their finances, according to Mariano Tavelli, president of brokerage Tavelli &amp; Cia.<\/p>\n<p>\u201cWe\u2019ll have to wait and see the real effect on balance sheets but any tariff increase is good,\u201d he said in a telephone interview from\u00a0<a href=\"http:\/\/topics.bloomberg.com\/buenos-aires\/\">Buenos Aires<\/a>. \u201cIf this means the situation is beginning to normalize for these companies, prices are still very cheap.\u201d<\/p>\n<p>The government allowed natural gas distributors to increase rates charged to residential and commercial users by 200 percent to 650 percent, depending on the company, area and type of user, according to a\u00a0<a title=\"Open Web Site\" href=\"http:\/\/www.boletinoficial.gov.ar\/Inicio\/index.castle?s=1&amp;fea=07\/04\/2014\" rel=\"external\">resolution<\/a>\u00a0published in the official gazette April 7.<\/p>\n<p>Part of the rates will be used to pay for the difference in natural gas prices, which also increased.<\/p>\n<p>The higher rate won\u2019t be applied to users who reduce consumption by 20 percent.<\/p>\n<p>\u201cWhile it probably won\u2019t make a huge difference in the bottom line, it\u2019s a very good sign,\u201d said Andres Chambouleyron, a senior consultant at Chicago-based consultancy Compass Lexecon LLC. \u201cThe government recognized these companies are in trouble and did something about it.\u201d<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg.com By Camila Russo Argentine natural gas distributor shares are having their best week since October after the government allowed the first rate increases in 15 years. Transportadora de Gas del Norte SA\u00a0shares have jumped 18 percent this week, the most since October, and were&hellip;<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-806","post","type-post","status-publish","format-standard","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Argentine Utilities Surge on First Rates Increase Since 1999 - News and Articles<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kierjoffe.com\/news\/lawyer-argentina-attorney-buenos-aires-law-firm\/argentine-utilities-surge-first-rates-increase-since-1999\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Argentine Utilities Surge on First Rates Increase Since 1999 - News and Articles\" \/>\n<meta property=\"og:description\" content=\"Bloomberg.com By Camila Russo Argentine natural gas distributor shares are having their best week since October after the government allowed the first rate increases in 15 years. 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