Metrogas cuts gas tariffs as Chile questions profits

Platts

Metrogas cuts gas tariffs as Chile questions profits

Santiago, Chile (Platts)–

Metrogas, Chile’s largest distributor of natural gas plans to cut its tariffs by as much as 15%, as the government accused the firm of exceeding permitted profit limits, the company said Monday.

Metrogas will reduce gas tariffs by 15% for 350,000 households, or 60% of its clients, from December 1, the company said in a statement.

The remainder will see tariffs fall by 4%-10%.

The move comes just days after Spain’s Natural Gas Fenosa took control of the board at Metrogas, following its successful takeover of parent company CGE.

http://www.platts.com/latest-news/natural-gas/santiago-chile/metrogas-cuts-gas-tariffs-as-chile-questions-21600103

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