| Work Detail |
The Fund was created in 1999 to finance expansion projects for the high-voltage electricity transmission system to meet demand or interconnect electrical regions. With the desire to achieve more efficient public management, the Argentine government announced the definitive closure of the Federal Electric Transport Trust Fund (FFTEF), which, in line with the 21 previously dissolved funds, recorded poor use of public resources, a lack of controls, and a lack of results, it explained in a statement. This Fund was created in 1999 to finance expansion projects to the high-voltage electricity transmission system to meet demand or interconnect electricity-producing regions. To this end, the Funds revenues were based on a percentage of the surcharge on tariffs paid by distribution companies and large users for purchases on the Wholesale Electricity Market (MEM), a percentage that has been modified several times. However, according to the government, an audit conducted by the National Audit Office (Sigen) revealed several shortcomings in the operation of the FFTEF. These include noncompliance with the Procurement Regulations; significant delays in the execution of works; inconsistencies in the recording of transactions and transfers; the impossibility of monitoring the traceability of the funds used; and unaudited and unadjusted accounting statements. In addition, the National Registry of Charging Infrastructure for Electric and Hybrid Vehicles was also eliminated, a cumbersome process that generated no concrete benefits for the sector. We continue to remove bureaucratic obstacles so that companies and citizens save time and resources, they conclude. |
