-- Chile is exploring measures to mitigate rising electricity costs while maintaining incentives for electric vehicle adoption, Bloomberg reported on Thursday, citing the energy minister.
"We're talking about a technical solution that I think is doable," Chile Energy Minister Ximena Rincon said. "It will bring important relief to families and will also provide legal certainty."
The move comes two weeks after the newly inaugurated administration implemented the sharpest fuel price hikes in decades, amid the ongoing Middle East conflict that has roiled energy markets.
The government announced in late March a package of limited relief measures, including a delay of the electricity tariff hike originally scheduled for April until July.
The Ministry of Energy did not respond immediately to' request for comments.
Rincon said officials are now working on a longer-term solution to avert price increases.
Chile is highly exposed to energy market volatility, as it relies on imports for nearly all of its petroleum needs.
President Jose Antonio Kast and Finance Minister Jorge Quiroz said fiscal pressures inherited from the previous administration of Gabriel Boric left them with little choice but to pass on the full impact of surging global oil prices to consumers in one move.
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