CAMMESA (Argentine Wholesale Electricity Market Clearing Company) (Spanish: Compañía Administradora del Mercado Eléctrico Mayorista S.A.) is an Argentinian company which operates the wholesale energy market of the country. It was created by Executive Decree in 1992 to operate the Argentine Interconnection system, planning the power generation required and managing energy dispatch by generators, and for regulation of the spot and term wholesale electric energy markets. Despite being a private enterprise, as the retail electricity sector in Argentina faces heavy state regulation including low tariffs, the company has been dependent on public subsidies for years. Energy generation costs are not fully passed through to final customers. The spread between the generation cost and the fixed tariffs is covered by CAMMESA, which then makes the company dependent on public subsidies to compensate the generation companies. Also, starting from 2013, all thermal power generation companies are required to buy any required fuel through CAMMESA. This restriction was only lifted for a short period between November 2018 and December 2019, when it was last put in place again. More information...
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