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Enel purchase could drive up electricity prices, union warns

The completion of the sale is subject to the previous conditions in place in the country for this type of transaction, including approval by Indecopi. | Fountain: In that

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China’s Southern Power Grid International (CSGI) has acquired all of Enel’s operations in Peru, but the purchase has yet to be approved by Indecopi.

However, the National Society of Industry (SNI) warns that if the purchase is approved, we could face “concentration in the distribution of electricity in Lima”.

In a statement, the union recalled that in 2020 Luz del Sur was sold to the China Three Gorges Corporation group owned by the Chinese state, and pointed out that the company that had just acquired Enel’s operations is also owned by the Chinese state.

Therefore, they indicate that if this sale is approved, it will result in a concentration of 100% of the market for electrical distribution Lima in the hands of the People’s Republic of China.

“This is not about creating a ‘monopoly’ in private hands, but about ‘creating a monopoly’ in the ownership of electricity distribution in the hands of a foreign power,” warns SNI.

SNI adds that this situation could expose consumers pay inflated prices for electricity due to lack of competition.

“The concentration of property in a particular market should worry every citizen. Especially if it is a non-tradable strategic asset, in the most concentrated demographic space of the country and with the highest incidence due to the economic situation. the activities that it integrates, as well as the distribution of electricity in Lima, ”they claim.

Source: RPP

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