My Tiny Feed

elpais.com

Chile's Electricity Subsidy: Second Round Details

Chile's electricity subsidy program, launched in response to price hikes, is currently accepting applications for its second round. This article summarizes the program's details, eligibility requirements and funding proposals.

Read original article in Spanish

Spanish

Spain

EconomyGovernmentLatin AmericaChileElectricitySubsidy

Chilean GovernmentSocial Household Registry (Rsh)Tariff Stabilization Fund (Fet)Superintendencia De Electricidad Y Combustibles (Sec)

Gabriel BoricMario Marcel

Who is eligible for the electricity subsidy?: The subsidy is intended for Chilean households in the most vulnerable 40% of the population, as determined by the Social Household Registry (RSH) on October 1, 2024. Applicants must also be over 18 years old and a regulated electricity customer.
Why did electricity prices increase in Chile?: The electricity price increase in Chile is due to a law passed in 2019 that froze prices for almost five years, creating a large debt to electricity companies. This debt, coupled with global energy price increases, made a price adjustment necessary.
What are the proposals for expanding the subsidy?: Proposals to expand the subsidy include extending it to middle-income groups. Funding would come from the Tariff Stabilization Fund (FET), IVA tax revenue from the increased tariffs, a temporary increase in CO2 tax, and SEC fines.
How does the electricity subsidy work and when does it end?: Those selected for the subsidy will receive a direct discount on their monthly electricity bill. The benefit covers July through December 2024 for those chosen in the first round and extends automatically until January 2025 for those selected in the second round.
How can people apply for the second round of the electricity subsidy?: To apply for the second round of the electricity subsidy, Chileans must register on the official subsidy website before November 6th, 2024. Applicants must be part of the 40% most vulnerable population according to the Social Household Registry.

Jan 21, 22:09

Nubank Explores U.K. Relocation for Global Expansion

Nubank, Latin America's most valuable digital bank with $55 billion market cap, is considering moving its legal base to the U.K. to expand globally, driven by discussions with the British government and a more favorable U.S. regulatory environment under President Biden.

Jan 16, 01:07

Mexico Unveils "Plan México" to Boost Economy, Counter US Tariffs

President Claudia Sheinbaum's "Plan México" aims to transform Mexico's economy by 2030, creating 1.5 million jobs, increasing investment to 28% of GDP, and becoming the world's tenth-largest economy, thereby countering potential US tariffs with domestic growth and reduced reliance on imports.

Jan 15, 04:09

China's Export Resilience Amidst Shifting Global Trade Dynamics

Driven by the Belt and Road Initiative, China's exports to ASEAN and Latin America grew by 12 percent and 13 percent respectively from January to November 2024; while exports to the US and EU decreased, reflecting a shift in export destinations.

Jan 10, 07:08

China-CELAC Forum Celebrates 10 Years of Enhanced Cooperation

Celebrating its 10th anniversary, the China-CELAC Forum, established January 8, 2015, has significantly strengthened cooperation between China and Latin America and the Caribbean through five key pillars, including political trust, economic-commercial benefits, and cultural exchange, resulting in 43 thematic sub-forums.