– Chile said on Monday that Argentine power plant Salta reestablished service to its northern grid after supplies were diverted on Thursday to satisfy shortages in Argentina following a plant failure.
The Salta plant, a generating unit of Chile's AES Gener CHG.SN, controlled by U.S.-based AES Corp (AES.N: Quote, Profile, Research), supplies power grids in both Argentina and Chile. Chile's northern power grid serves the mining industry that is responsible for the bulk of the nation's exports.
"Salta is once again supplying energy to Chile," Chile's energy minister said on Monday.
Chile, which imports nearly all of the fuel it consumes, saw its spot electricity prices increase nearly fivefold last year amid drastic cuts in natural gas from sole supplier Argentina, as it grappled with its own domestic energy crisis.
