Thursday, August 11, 2016 Gas, electricity firms: we are losing moneyThe suspension of gas and electricity hikes across the country is leaving companies without sources of revenue, according to distributing firms. That decision is leaving firms in financial problems, executives argue, as neither subsidies nor users’ cash are coming in to pay for their costs. The reason, they argue, is that the courts’ resolutions took out 30 percent of its sales. The government agreed to a series of infrastructure investments with gas and electricity distributors following the hikes, as it argued that they had been left to decay during the previous years while rates remained low, in order to reduce costs. “Without an urgent re-adecuation of rates, we think assistence from the national government will be needed, (as otherwise) the investments that were agreed to will and that were launched could be seriously affected,” Córdoba’s gas distributor Ecogas said yesterday.

Source: Bueno Aires Herald August 11, 2016 05:53 UTC