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Law 21465 - Increases The Limit Of The Fuel Price Stabilization Mechanism Created By Law No. 20.765 And Updates The Weekly Hotline

Original Language Title: Ley 21465 - AUMENTA EL LÍMITE DEL MECANISMO DE ESTABILIZACIÓN DE PRECIOS DE LOS COMBUSTIBLES CREADO POR LA LEY N° 20.765 Y ACTUALIZA EL UMBRAL DE AJUSTE SEMANAL

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LEY NÚM. 21.465

AUTHOR THE LIMIT OF THE MECHANISM OF STABILIZATION OF PRECIES OF COMBUSTIBLES UNDER THE LAW No. 20,765 AND UPDATE THE SEMANAL AJUST UMBRAL

Bearing in mind that the H. National Congress has approved the following

Bill:

"Unique item. Insert the following modifications into the Act No. 20,765which creates fuel price stabilization mechanism that indicates:

1. In his article 3:

(a) Replace in its numeral 3 the expression "0.12 UTM per cubic metre" with the phrase "0.8 per cent of the average of the last two weeks of the base price of gasoline of 93", the two times it appears.

(b) Replace in its numeral 4 the expression "0.12 UTM per cubic meter" by the phrase "0.8% of the average of the last two weeks of the base price of the gasoline of 93", the two times it appears.

2. In his article 4:

(a) Replace the garrison "1,500" for "3,000", the two times it appears.

(b) To delete the sentence "However, if in that period an additional difference is estimated to be greater than the equivalent in pesos to $100 million, on the basis of the exchange rate prevailing at that date, the mechanism shall terminate its operation the week in which the sum has been accumulated. ".

3. Enter the following article 6, new, passing the current to be article 7:

"Article 6. The Ministry of Finance and the Ministry of Energy will send to the Treasury Commission of the Chamber of Deputies all the information regarding the mechanisms and subsidies provided by the State or by the National Petroleum Company in the Region of Magellan and Chilean Antarctica and in the Region of Aysén, which affect the determination of the prices of regional sale of the automotive gasoline, of the natural gas vehicles, of the natural gas of the oil.

Transitory Article.- This law shall enter into force on June 1, 2022."

And for I have had it good to approve and punish it; therefore, promute and take it into effect as the Law of the Republic.

Santiago, June 9, 2022.- IZKIA SICHES PASTÉN, Vice President of the Republic.- Claudia Sanhueza Riveros, Minister of Finance (S).- Claudio Huepe Minoletti, Minister of Energy.

What I write to you for your knowledge.- Greetings Atte. to you, Claudia Sanhueza Riveros, Undersecretary of Finance.