The national government decides today how much it will raise power bills in January after the Cesur power sale was suspended because of an excessive 11% jump in power bill costs and the resulting backlash from consumers. As an alternative, the National Comission on Financial Markets and Competition will offer a plan that, it warns, should be applied as soon as possible.
This move is a direct intervention in the power market even though it follows a confirmation that investors were speculating on power trades by creating volatile price fluctuations.
The government will have to face stiff demand from brokers, traders and banks that were affected by the suspensión. At this point we need a transparent system that avoids unexplained price fluctuations in the market.
