On May 8, 2024, through Executive Decree No. 256, the President divided the Agency for the Regulation and Control of Energy and Non-Renewable Natural Resources into three new agencies: (i) Mining Regulation and Control Agency (ARCOM); (ii) Electricity Regulation and Control Agency (ARCONEL); and (iii) Hydrocarbons Regulation and Control Agency (ARCH). These agencies will act as technical administrative bodies in charge of regulating and controlling activities in the mining, electricity and hydrocarbon sectors, respectively, in accordance with the powers granted by the Mining Law, the Organic Law of the Public Electric Energy Service and the Hydrocarbons Law.

The process of dividing and putting into operation the three new agencies must be completed within a maximum period of three months, starting from May 8, 2024.

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