According to press reports, the Macri administration has instructed energy companies to go back to issuing gas and electricity bills without the steep price increases implemented in February. In the Patagonian city of Bariloche, gas bills went up by as much as 2,500 percent, leading Mayor Gustavo Genusso to actually tell the city’s residents to not pay their upcoming gas bills back in May. There’s a chance the judiciary may decide to make the increases retroactive to the moment they came into effect, but that doesn’t seem likely. However, as we’ve seen with the gas increases, this process usually takes one or two months, during which time the administration will have to maintain high energy subsidies. Utility bills skyrocketed at the beginning of this year when the Macri administration removed many of the consumer-level subsidies on electricity and gas.

Source: The Bubble August 05, 2016 14:26 UTC