EDEMSA electricity tariffs

Published Monday 24th, November 2008.

Article Category: Announcements

Summary

Article Content
Andes Energia plc
(Andes or the Company)
Electricity tariffs

Andes (AIM: AEN), the Latin American energy group, is pleased to note the recent publication of two law decrees by the Province of Mendoza:

Decree 2704, published on 7 November 2008, allows EDEMSA, the Company\\\’s 51 per cent. owned electricity distributor, to request, every six months from 1 February 2010, an inflation based review of its electricity tariffs.

Andes also confirms that it expects the next General Tariff Review to take effect from 1 February 2009.

Decree 3177, published on 17 November 2008, allows EDEMSA to recover, over a period of 54 months, the income foregone as a result of the postponement, announced by Andes on 27 June 2008, of the start of the third tariff period from 1 August 2008 to 1 February 2009.

Neil Bleasdale, Chairman of Andes, stated, “These decrees have helped to formalise the tariff review procedure and provide transparency to the process.”

For further information please contact:

Andes Energia plc
Luis Alvarez Poli, CEO
Nigel Duxbury, FD
T: 020 7495 5326
Arbuthnot Securities
James Steel
Antonio Bossi
T: 020 7012 2000
Bishopsgate Communications
Maxine Barnes
Nick Rome
T: 020 7562 3350