Peru proposes measures to boost investments in the electricity sector

This MINEM release was published using machine translation.

The Ministry of Energy and Mines (Minem), through Ministerial Resolution No. 175-2020-MINEM / DM and its respective explanatory memorandum, published a package of proposals aimed at accelerating investments in the electricity subsector and at strengthening energy supply.

The proposed modifications include changes to the Regulation of the Electric Concessions Law to adopt measures that guarantee the supply of electricity in exceptional situations, such as the one that the country is experiencing due to the coronavirus pandemic.

It also states that, to request the extension of a concession, the operators present a schedule for the execution of works with start dates of works and the start of commercial operation.

In its complementary provisions, the initiative proposes that, within the 20 days following the publication of the Supreme Decree, the electricity distribution companies attached to the National Fund for the Financing of State Business Activity (Fonafe) can request that Minem assume the execution of projects included in the Investment Plan approved by the regulatory body, Osinergmin.

The project also establishes changes to the Regulation for the Generation of Electricity with Renewable Energies to promote investments in the implementation of plants that use geothermal energy.

It considers, among other aspects, new deadlines in order to accelerate investments in projects linked to the Transmission Plan established by Minem, where interested agents must present their works execution schedules and start work in the shortest period.

The draft Supreme Decree and its explanatory memorandum are found on the website of the Ministry of Energy and Mines. The resolution establishes a period of 30 working days, counted from its publication, for those interested to submit their opinions and suggestions in writing and online, via email gcoello@minem.gob.pe .