Senate approves transmission bill

Chile's senate approved Wednesday a proposal by energy minister Jorge Rodriguez to regulate power transmission payments through the 'Ley Corta' fast-track bill, local newspapers reported. The Senate voted 36 to 1 in favor of the law, with two abstentions. Senators now have until January 12 to submit proposals to modify the law, which will be voted on separately in the last two weeks of that month. "The vote shows that the overwhelming majority approve of this law, which aims to improve the transmission system in order to have high quality energy at low prices for consumers," newspaper El Diario quoted Rodriguez as saying. "This opens the way for the definitive approval of the law." Once the senate approves any modifications to the law, it will go before cabinet, which will in turn either approve it or create a commission to study it further, the paper reported. The law's final approval will give stability to the country's electric regulatory framework, paving the way for investment in transmission and generation projects, Rodriguez said.