Transnea signs contract renegotiation MOU

Argentine transmission company Transnea signed a memorandum of understanding (MOU) last week with the government to renegotiate its concession, the seventh of the country's eight transmission concessionaires to have done so, newspaper Cronista reported. Patagonia-based Transpa is the exception, mainly because of a lawsuit filed against the government by its shareholder Camuzzi. The absence of lawsuits is important in the concession renegotiations and Camuzzi has been one of the least willing companies in Argentina's energy sector to drop its claims. Transmission tariffs could increase 25-31%, Cronista said. Some utilities were demanding 100% tariff hikes compared to the 25% that Uniren was offering when renegotiations started between the utilities and the government's public service renegotiation unit (Uniren), the paper added.