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  • URUGUAY ECONOMY

    Uruguay to offer cuts in electricity rates to exporters

    17 de mayo de 2018

    Montevideo, May 17 (efe-epa).- The Uruguayan government said Thursday it would offer preferential electricity rates to businesses, including a reduction of up to 25 percent in power bills to match increased exports, with the goal of "improving industries' productivity."

    The program is being rolled out in response to "a perception that there is a bigger capacity for production," Olga Otegui, energy national director, said.

    "The measure aims to help industries that are now exporting and that increase in exports will bring a reduction in electric power bills," Otegui said.

    Between 100 and 120 companies are expected to apply for the program and, "depending on their line of work," they would have to achieve gains of 5 percent to 10 percent in sales overseas to get matching cuts in electric bills, Otegui said.

    Benefits will be assessed every three months based on export increases, with the base quarter being the July-September 2018 period.

    "All export companies" located within national territory will be able to apply for the program, but those with operations in the free trade zones will be excluded, Otegui said.

    Overall, companies joining the program will be able to get a discount of up to 25 percent on their electricity costs, but Otegui said different "ceilings" will be established so "that many companies will be able to apply."