"The purchase of energy in the occasional market in Panama costs the state about $100 million annually, said the Secretary of Energy, Juan Urriola. Because of this, authorities have submitted to the National Assembly an amendment to the Law of February 6, 1997, which seeks to improve the national electricity market", reported PanamaAmerica.com.pa.

The Ministry of Energy, the Electricity Transmission Company (ETESA) and the Public Services Authority (ASEP) have proposed these changes. The authorities feel that there is a distortion in the functioning of the wholesale electricity market, leading to inadequate formation of prices, and, in the end, this affects the final charges for consumers.

Source: Panamaamerica.com.pa

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