Chile, US sign energy cooperation agreement

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Tuesday, July 1, 2014

Chile signed an energy cooperation agreement with the US, affirming the countries' commitment to work together in areas including non-conventional gas development, smart grids and non-conventional renewable energy (NCRE).

Other oil and gas related themes included regulatory and pricing support, distribution networks and secure infrastructure at LNG regasification plants, according to a Chilean government release.

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The agreement addressed technical aspects of electric power distribution, along with market-related issues like decoupling and net-metering.

The countries committed to share information on the integration of NCRE, namely solar and wind, as well as geothermal.

The agreement outlined a plan to promote energy efficiency in industry, transportation, public buildings and the private sector, and included a pledge to work together on an energy efficiency law in Chile.

Over the next 90 days, the countries will develop a plan detailing specific energy-related goals and mechanisms for achieving them, according to the statement.

Chile's energy ministry also submitted seven regulatory changes to the local comptroller's office with the goal of fulfilling commitments made in President Michelle Bachelet's 2014-18 energy agenda.

The proposed changes would modify rules for auctions and net-metering, a ministry release said, among other electric power-related issues.