The Government of Javier Milei will publish a decree in the coming days that enables the privatization of Energía Argentina S.A. (Enarsa), initiating the sale of strategic assets such as its stake in Citelec, the company that controls Transener, the country's main electricity transporter.
According to Infobae, the process includes a national and international public tender to divest the share package that Enarsa currently holds in Citelec. The official intention is to complete this operation before mid-year.
The privatization will begin with the sale of Transener
Enarsa owns 50% of Citelec's shares, while the other 50% is held by Pampa Energía, the company of Marcelo Mindlin. Together, these stakes amount to 51% of Transener, a company that operates more than 12,400 kilometers of electric transmission lines.
Although Pampa Energía has statutory priority to acquire the share package, the decree in preparation expressly rules out that option. Additionally, Article 31 of Law 24.065 prevents a generator like Pampa Energía from having full control of a transporter.
The Government seeks to ensure transparency in the privatization process, without giving preferences to shareholders or employees, something that will also be established by the decree.
Expectation for the impact of the tariff review
Another key component in this operation is the completion of the Five-Year Tariff Review (RQT), which will define the income scheme for energy transporters over the next five years. A clear tariff structure could attract investors interested in acquiring control of Transener.
