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Economy / Argentina

Energy Failures Spark Improvements

February 2008 | Ratings Update

Planning Minister Julio De Vido has publicly announced that there will be no repeat of last winter's energy shortages when the cold returns this year. Blackouts during an extreme cold snap last July were followed by further power cuts when temperatures soared in January. Both cases highlight deficiencies in the country's energy system, which is running close to capacity. An energy savings plan introduced by the government in January may help matters, though preliminary estimates suggest demand for energy still rose 4% y-o-y in that month. A failure to live up to this bold promise could cost the Fernández administration dearly in popularity.

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