Kissinger to negotiate a peaceful settlement in the-Middle East. The El Fatah organization in Beirut proudly took the credit for the murderous mission.
The main provisions of the above mentioned law that make an impact on the License duly granted to MetroGAS by the National Government and that modify express provisions of Law No.
Furthermore, the Emergency Law established the beginning of a renegotiation process of utility contracts granted by the National Executive Power "PEN" without prejudice to the requirements that utility services companies should go on complying with all their obligations.
The Emergency Law, which was originally to be due in Decemberwas consecutively extended up to December 31, Additionally, the renegotiation terms for licenses and concessions of utility services were also extended. Although MetroGAS strictly complied with the submittance of all information required, the process of renegotiation continued to be delayed and it was not possible for the Company to reach a consensus.
It is important to point out that MetroGAS' distribution tariffs have been frozen since Among the relevant issues where no consensus was reached in order to move forward in the process of subscribing a letter of understanding, we can mention, the amount of tariffs increases and the lack of certainty regarding an effective collection of these increases by the Company within an appropriate term considering the situation the Company is undergoing.
Without ruling Jjt2 task other alternatives, and taking into account the delicate situation the Company is in, it is still fostering negotiations to reach an agreement contemplating tariffs increases which may allow the Company to make a proposal to its creditors and put an end to the legal proceedings the Company is involved in, thus restoring the business feasibility.
Such Temporary Agreement establishes a Transition Tariff Regime as from September 1,with a readjustment of prices and tariffs including variations in the price of gas, transport and distribution.
The amounts resulting from the effectively received increase in distribution tariffs must be deposited by MetroGAS in a specific trust fund created to carry out infrastructure works in the licensee area.
When filing the appeal, the Company stated that both the ENARGAS and the Undersecretary of Coordination, within the sphere of their respective responsibilities, have had to implement, since Marchthe tariff scheme derived from the Temporary Tariff Scheme. Therefore, it was requested that the defendants carry out, without delay, the necessary actions to put in force the tariff increase before mentioned.
On November 30, the judge rejected the legal protection proceeding, decision which was then appealed by the Company on December 7, As of the date of issuance of these financial statements, the Company was niether invoiced nor registered the effects of the mentioned Temporary Agreement.
It is worth emphasizing some of the relevant measures: I-1, issued on June 17, MetroGAS was notified that it would be under intervention for a day term, appointing Engineer Antonio Gomez as interventor.
I, together with a request for an injuction to suspend the intervention effects during the process of the mentioned direct appeal. This injunction request was rejected by a judicial resolution notified to MetroGAS on September 8, I-1, wich extended for days the company's intervention.
Its jurisdiction is extended to transportation, sale, storage and distribution of natural gas. Within its sphere of responsibilities, according to what is expressed in the Gas Law, the ENARGAS has to protect customers, pay attention to the competence in the natural gas supply and demand and encourage long-term investments in the industry.
During the present fiscal year and based on the Consumer Protection Act, Chamber K of the Civil Court made MetroGAS responsible for an irregularity in an internal installation without taking into account neither the regulatory framework in force nor the precedent case law as regards this matter.
In this context, the process of conforming MetroENERGIA as a natural gas trading company was finished during that year, entity created with the aim of keeping the biggest number of customers as possible and count on a better tool in accordance with the new context where the Company had to perform.Unibet Community Ask questions, get help and enjoy Unibet.
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