Buenos Aires, January 8, 2014
COMISIÓN NACIONAL DE VALORES
Argentine Securities and Exchange Commission
Issuers´ Sub-Management Office
BOLSA DE COMERCIO DE BUENOS AIRES
Argentine Stock Exchange
Re: Material Fact.
Argentine National Planning, Public Investment and Services Ministry Resolution 3/2014 and National Electricity Regulator (ENRE) Resolution 1/2014.
Dear Sirs,
I hereby address you on behalf ofEmpresa Distribuidora y Comercializadora Norte S.A. (EDENOR)(“the Company”) in compliance with applicable laws and regulations, in order to inform you that yesterday Resolution 3/2014 passed by Argentine National Planning, Public Investment and Services Ministrywas published in the Official Gazette, providing that any investments to be made with funds deriving from the “Fondo para Obras de Consolidación y Expansión de Distribución Eléctrica (FOCEDE)” (Fund for Consolidation and Expansion Works of Electricity Distribution) created by ENRE Resolution No. 347/2012, will now be authorized by the Performance Coordination and Control Undersecretariat of the Argentine National Planning, Public Investment and Services Ministry, which will provide any necessary instructions to the Trust Execution Committee created by said resolution and to EDENOR, in its capacity as Trustor of said Trust, in connection with the performance and completion of works and investments under the FOCEDE.
On the same date, Resolution 1/2014 passed by the Ente Nacional Regulador de la Electricidad (National Electricity Regulator)was also published in the Official Gazette, imposing on the Company, notwithstanding users’ right to file any claims they may deem proper under any other ground, (i) payment of compensation to each Residential Tariff 1 user, based on the following scheme:
- AR$490 to users with power outage since 12/16/12 lasting for more than 12 to 24 uninterrupted hours, inclusive.
- AR$760 to users with power outage lasting for more than 24 up to 48 uninterrupted hours, inclusive.
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (Edenor S.A.)
Avda. del Libertador 6363 – Piso 12 – Buenos Aires, 1428 – Argentina – Tel.: 4346-5507 – Fax: 4346-5327
- AR$870 to users with power outage lasting for more than 48 uninterrupted hours, inclusive; and
(ii) A 100% increase in compensation to users who suffered power outage in 2010 and 2012.
The Company is analyzing the impact of said Resolutions, as well as any available legal actions it may pursue.
Best regards,
_____________________
Carlos D. Ariosa
Attorney-in-fact
Empresa Distribuidora y Comercializadora Norte Sociedad Anónima (Edenor S.A.)
Avda. del Libertador 6363 – Piso 12 – Buenos Aires, 1428 – Argentina – Tel.: 4346-5507 – Fax: 4346-5327
Empresa Distribuidora y Comercializadora Norte S.A. | ||
By: | /s/ Leandro Montero | |
Leandro Montero | ||
Chief Financial Officer |