Energy firms to maintain planned investments in Chile despite crisis

Energy companies in Chile will maintain planned investments in 2009 despite the global financial crisis, energy minister Marcelo Tokman told after meeting with officials from 13 companies including Endesa, Colbun, Transelec, CGE, AES Gener and Copec.
Projects worth $ 7.72 bn are under development and an additional portfolio valued at $ 13.3 bn could be approved and put into development this year.

"We're talking about all kinds of energy projects including hydro dams, tanks, distribution networks and port works to deliver coal to thermo plants," Tokman said, adding the projects that could be started in 2009 are in various stages of the environmental approval and permitting processes.
"We haven't learned of any project that has been delayed or cancelled," Tokman said.

Tokman, meanwhile, said new legislation that will require generators to pay a fee to local municipalities for every MW of capacity installed will not lead to higher power bills.
"The bill for municipal compensation will be submitted in March or at the beginning of April," Tokman said.

President Michelle Bachelet announced the measure, which is intended to combat local opposition towards many planned generation projects, earlier in the month.
The fee paid to municipalities will be tax deductible.