Following seemingly endless power cuts in the Buenos Aires area, Federal Economy Minister Sergio Massa ordered the intervention of suppliers Edesur and appointed Jorge Ferraresi as the company's new controller for a period of 180 days.
Francesco Starace, CEO of Italy's Enel, the company owning a majority of Buenos Aires electricity suppliers Edesur, said last week during a convention at the Harvard Business School, that they would be leaving the South American country because it has the most bizarre regulation in the world.
A huge power cut in the Argentine capital Buenos Aires caused a blackout to hundreds of thousands of homes and businesses on Tuesday and brought metro lines to a standstill. The blackout also occurred when the country's medicine and pharmaceutical regulator extended an emergency authorization to the Pfizer BioTechN vaccine.
A massive blackout left tens of millions of people without electricity in Argentina, Uruguay, Paraguay and parts of Chile and southern Brazil on Sunday. The Argentine president called it an “unprecedented” failure in the countries' interconnected power grid.
Sweltering heat props up use of air conditioning. 'Specific failures' along the distribution line spark street, social media protests
Argentina announced sanctions on electricity companies Edesur and Edenor following the power outages suffered by hundreds of thousands of citizens in Buenos Aires City and surrounding areas, amid a historic heat wave that brought stifling temperatures for 18 days.
Argentina on Thursday threatened to nationalize utility companies Edenor and Edesur after power outages left large areas of the capital Buenos Aires and surrounding suburbs in the dark, just ahead of the austral summer. If they are not willing to give people the service they deserve, we will be willing to take over that service, said cabinet chief Jorge Capitanich.
A heat wave which reached 36 Celsius caused on Wednesday a massive blackout in Argentina’s capital with an estimated three million people suffering lack of power plus such emblematic sites as Government House (Casa Rosada), Congress and the posh district of Puerto Madero.
The fountains in Argentina’s capital Buenos Aires emblematic Plaza de Mayo were left unlit Tuesday and Wednesday night, after electricity company Edesur cut off power due to the city’s government's failure to pay the bill.
Argentina's government appointed an observer Thursday to oversee business operations at the power distributor Edesur SA, after the company reportedly failed to make a payment to a regulatory company.