In recent news, energy generating companies have received bonus payments in dollars to settle their debt with the wholesale administrator of the electricity market, Cammesa. This agreement was reached last week with Minister of Economy, Luis Caputo, and will see part of the $2.89 billion (US$3.23 billion) owed to them for gas and electricity sales cancelled.
Following tensions and complaints from the United States, Caputo provided a bonus extension until 2038 (AE38) with a 50% discount. This move has sparked movement in the market, with trading volume increasing from $5 million to almost $11 billion in the last rounds. Some companies have already started selling the bonds, while others have yet to receive them.
The Minister of Economy expressed full support for the proposal to settle Cammesa’s outstanding invoices, highlighting the cooperation of businessmen and mentioning a trade surplus of US$2.4 billion in the first four months of the year. Despite some reluctance from generators, they brought their concerns to the CNV, reporting losses of over US$100 million.
With Cammesa using their funds to purchase and pay off securities issued by gas generators, suppliers, and transporters, debts were settled through this financial operation. This allowed the Treasury to avoid accounting expenses that could have impacted the financial surplus. However, there are concerns about
