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Monday, February 6, 2023

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Minem: Modification of the FOSE will not entail additional cost to current contributors

The Vice Minister of Electricity of the Ministry of Energy and Mines (Minem), Martin Davila, supported before the Energy and Mines Commission of Congress the technical scope of the bill that modifies the Law of the Electricity Social Compensation Fund (FOSE), and indicated that this initiative will allow a discount of up to 15% in electricity bills of families with fewer economic resources.

He added that with this legal modification, the population with fewer resources will also be able to save on their monthly electricity bill because there is currently a distortion in the regulation of the electricity market, reflected in the difference in the price of energy between the regulated market (families) and the free market (industries), which is greater than $ 37 per megawatt hour.

Dávila explained that the bill prepared by the Executive proposes to improve the current FOSE scheme, created in 2003, through the incorporation of greater beneficiaries and the increase in discount percentages, justified in a technical-economic evaluation that it will allow a discount in favor of the payment for electricity of the most vulnerable sectors.

This legal initiative proposes that subsidies be provided, through the FOSE, to users who consume up to 140 kWh / month (currently it is only up to 100 kWh / month) and, likewise, it proposes that free users also participate in the financing of this fund.

It should be noted that this modification of the FOSE, proposed by the government of President Pedro Castillo, It will not entail any additional cost to current FOSE contributors or the public treasury, and will benefit more than 21 million Peruvians.

On the other hand, to improve the targeting of the FOSE, the project includes measures to exclude the subsidy to avoid leaks using the “Stratified Plans for income at the block level prepared by the National Institute of Statistics and Information (INEI)”, consumption estimates of the beach houses and the empowerment of means to waive the subsidy.

Vice Minister Dávila remarked that the proposal is supported by the incorporation, by criteria of solidarity and equity, of a surcharge only for the billing of large electricity consumers (free users), whose value does not affect the competitiveness of their rates.

“We are asking Congress to approve this bill as soon as possible so that millions of Peruvians benefit, since we correct a distortion that has existed for a long time,” he commented.

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