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Argentina Power Market Outlook to 2030 - Business Propensity Indicator (BPI), Market Trends, Regulations and

Competitive Landscape Reference Code: GDPE0624ICR Publication Date: October 2012

Thermal Power Dominates Power Generation

Power generation in Argentina is currently dominated by thermal power resources. Thermal cumulative installed capacity amounted to XX MW in 2011, which accounted for a share of XX% of total installed capacity. XX% of total thermal installed capacity was contributed by gas-fired power plants, followed by oil- and coal-based power plants, which accounted for respective shares of XX% and XX%. Between 2000 and 2011, thermal installed capacity increased at a Compound Annual Growth Rate (CAGR) of XX%.

Power Market, Argentina, Breakdown of Installed Capacity by Type of Power Plant, 2011

Hydro

NuclearRenewable

Thermal

Gas

Oil

Coal

Other

Source: GlobalData, Power eTrack, Capacity and Generation Database (March 16th, 2012) Note: 2011 numbers are estimate

Growth in Power Generation Set to Continue

Power generation in Argentina has increased steadily over recent years, in response to rising electricity demand. Annual power generation increased at a CAGR of XX% between 2000 and 2011, from XX GWh to XX GWh. One of the major factors influencing the demand for electricity was high GDP growth between 2002 and 2011. The Energy Plus and Gas Plus policies were introduced by the government in 2006 to encourage investments in the energy sector in order to ensure that electricity demand in the country could be met.

Power Market, Argentina, Annual Power Generation (GWh), 2000–2011

2000 2005 2011An

nual

Pow

er C

onsu

mpt

ion(

GW

h)

Source: GlobalData, Power eTrack, Capacity and Generation Database (March 16th, 2012) Note: 2011 numbers are estimate

The Future of Clean Energy

Since 2000, Argentina has generated the majority of its power from thermal fuel sources. This has entailed the partial depletion of natural gas reserves in the country and increased greenhouse gas emissions. To combat these developments, Argentina is actively augmenting energy generation capacity from clean energy sources such as hydro, wind, solar and other renewable sources. To demonstrate its commitment to developing renewable energy, the Argentinean government is aiming to generate XX% of total electricity produced from renewable energy sources by 2016. Furthermore, the government has entered into the Renewable Energy and Energy Efficiency Partnership (REEEP) and received funds from the United Nations, which will be used to increase public awareness regarding clean energy.

Other than the nuclear power plant Atucha 2, which is scheduled to become operational in 2012, there are plans for a number of nuclear power plants with capacity exceeding XX MW, which are to become operational by 2028.

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1 Table of Contents 1 Table of Contents ............................................................................................................................ 2

1.1 List of Tables............................................................................................................................. 4 1.2 List of Figures............................................................................................................................ 4

2 Introduction ..................................................................................................................................... 5 2.1 GlobalData Report Guidance ..................................................................................................... 6

3 Argentina, Power Market, Business Propensity Indicator Methodology .............................................. 7 3.1 Methodology for Evaluating the Business Propensity Indicator for Argentina in Latin American .... 7

3.1.1 Supply Security ................................................................................................................ 7 3.1.2 Regulatory Scenario ......................................................................................................... 7 3.1.3 Infrastructure .................................................................................................................... 8 3.1.4 Macroeconomic Scenario.................................................................................................. 9 3.1.5 Competitive Scenario...................................................................................................... 10 3.1.6 Future Potential .............................................................................................................. 10

3.2 Methodology Adopted to Arrive at Final Rank ........................................................................... 11 4 Argentina, Power Market, Business Propensity Indicator................................................................. 13

4.1 Argentina, Power Market, Supply Security................................................................................ 13 4.2 Argentina, Power Market, Regulatory Scenario......................................................................... 13 4.3 Argentina, Power Market, Infrastructure ................................................................................... 13 4.4 Argentina, Power Market, Degree of Competition ..................................................................... 13 4.5 Argentina, Power Market, Macro Economic Factors.................................................................. 13 4.6 Argentina, Power Market, Future Potential ............................................................................... 13 4.7 Argentina, Power Market, Business Propensity Indicator Ranking ............................................. 14

5 Argentina, Power Market Analysis, 2000–2030 ............................................................................... 15 5.1 Argentina, Power Market, Cumulative Installed Capacity, 2000–2030........................................ 15

5.1.1 Cumulative Installed Capacity: Breakdown by Type of Power Plant, 2011......................... 15 5.1.2 Cumulative Installed Capacity and Annual Power Generation........................................... 16 5.1.3 Cumulative Thermal Installed Capacity, 2000–2030......................................................... 18 5.1.4 Cumulative Hydropower Installed Capacity, 2000–2030................................................... 20 5.1.5 Cumulative Nuclear Installed Capacity, 2000–2030.......................................................... 22 5.1.6 Cumulative Renewable Installed Capacity, 2000–2030 .................................................... 24

5.2 Argentina, Power Market, Import and Export Scenario.............................................................. 26 5.3 Argentina, Power Market, Annual Power Consumption, 2000–2030 .......................................... 27 5.4 Argentina, Power Market, Demand and Consumption Scenario................................................. 29

6 Argentina, Power Market, Infrastructure.......................................................................................... 30 6.1 Argentina, Power Market, Leading Active Power Projects ......................................................... 30

6.1.1 Leading Thermal Power Projects..................................................................................... 30 6.1.2 Leading Hydropower Projects ......................................................................................... 31 6.1.3 Leading Nuclear Commercial Reactors............................................................................ 31 6.1.4 Leading Renewable Power Projects ................................................................................ 32

6.2 Argentina, Power Market, Leading Upcoming Power Projects ................................................... 33 6.2.1 Leading Thermal Power Projects..................................................................................... 33 6.2.2 Leading Hydropower Projects ......................................................................................... 34 6.2.3 Leading Nuclear Commercial Reactor ............................................................................. 34 6.2.4 Leading Renewable Power Projects ................................................................................ 35

6.3 Argentina, Power Market, Infrastructure Overview .................................................................... 36 6.4 Argentina, Power Market, Distribution Overview ....................................................................... 37 6.5 Argentina, Power Market, Transmission Interconnections ......................................................... 38 6.6 Argentina, Power Market, Power Purchase Agreements ........................................................... 38

7 Argentina, Power Market, Regulatory Structure............................................................................... 39 7.1 Argentina, Power Market, Regulatory Structure Overview ......................................................... 39 7.2 Argentina, Power Market, Liberalization ................................................................................... 39

7.2.1 Retail Market .................................................................................................................. 39 7.3 Argentina, Power Market, Environmental Policies ..................................................................... 40 7.4 Argentina, Power Market, Energy Policy................................................................................... 40

7.4.1 Energy Plus Program...................................................................................................... 40 7.4.2 National Program for the Rational and Efficient Use of Energy ......................................... 40

7.5 Argentina, Power Market, Development of Renewable Energy.................................................. 41 7.5.1 Feed-In Tariffs ................................................................................................................ 41

7.6 Argentina, Power Market, Nuclear Policy.................................................................................. 41

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8 Argentina, Power Market, Competitive Landscape: Snapshot of Leading Power Companies ............ 42 8.1 Argentina, Power Market, Market Shares of Major Power Generating Companies ..................... 42 8.2 Argentina, Power Market, Key Company: Pampa Energia......................................................... 43

8.2.1 Pampa Energia, Company Overview ............................................................................... 43 8.2.2 Pampa Energia, Business Description............................................................................. 43 8.2.3 Pampa Energia, SWOT Analysis..................................................................................... 44

8.3 Argentina, Power Market, Key Company: Endesa..................................................................... 46 8.3.1 Endesa, Company Overview........................................................................................... 46 8.3.2 Endesa, Business Description......................................................................................... 47 8.3.3 Endesa S.A., SWOT Analysis ......................................................................................... 47

8.4 Argentina, Power Market, Key Company: Petrobras Argentina.................................................. 51 8.4.1 Petrobras Argentina, Company Overview ........................................................................ 51 8.4.2 Petrobras Argentina, Business Description ...................................................................... 51 8.4.3 Petrobras Argentina, S.A, SWOT Analysis....................................................................... 52

8.5 Power Market, Argentina, Key Company: AES Corporation....................................................... 54 8.5.1 AES Corporation, Company Overview............................................................................. 54 8.5.2 AES Corporation, Business Description........................................................................... 55 8.5.3 AES Corporation, S.A, SWOT Analysis ........................................................................... 57

9 Appendix....................................................................................................................................... 61 9.1 Market Definitions.................................................................................................................... 61

9.1.1 Power............................................................................................................................. 61 9.1.2 Installed Capacity ........................................................................................................... 61 9.1.3 Active Installed Capacity ................................................................................................. 61 9.1.4 Electricity Generation...................................................................................................... 61 9.1.5 Electricity Consumption................................................................................................... 61 9.1.6 Thermal Power Plant ...................................................................................................... 61 9.1.7 Hydropower Plant ........................................................................................................... 61 9.1.8 Nuclear Power................................................................................................................ 61 9.1.9 Renewable Energy Resources ........................................................................................ 61

9.2 Abbreviations .......................................................................................................................... 62 9.3 Bibliography ............................................................................................................................ 63 9.4 GlobalData’s Methodology....................................................................................................... 64

9.4.1 Coverage ....................................................................................................................... 64 9.4.2 Secondary research and analysis.................................................................................... 64 9.4.3 Primary Research and Analysis....................................................................................... 64

9.5 Contact Us .............................................................................................................................. 65 9.6 Disclaimer ............................................................................................................................... 65

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1.1 List of Tables Table 1: Ease of Doing Business – Categories and Definitions ............................................................ 9 Table 2: Country Risk – Categories and Sub-categories.................................................................... 10 Table 3: BPI Scoring Parameters...................................................................................................... 12 Table 4: Power Market, Argentina, Cumulative Installed Capacity by Type of Power Plant (%), 2011.. 15 Table 5: Power Market, Argentina, Cumulative Installed Capacity (MW) and Annual Power Generation

(GWh), 2000–2030 ............................................................................................................. 17 Table 6: Power Market, Argentina, Cumulative Thermal Installed Capacity (MW), 2000–2030 ............ 19 Table 7: Power Market, Argentina, Cumulative Hydropower Installed Capacity (MW) and Hydropower

Generation (GWh), 2000–2030 ........................................................................................... 21 Table 8: Power Market, Argentina, Cumulative Nuclear Installed Capacity (MW) and Nuclear Power

Generation (GWh), 2000–2030 ........................................................................................... 23 Table 9: Power Market, Argentina, Cumulative Renewable Installed Capacity (MW) and Renewable

Power Generation (GWh), 2000–2030................................................................................. 25 Table 10: Power Market, Argentina, Total Annual Imports and Exports (GWh), 2000–2010 .................. 26 Table 11: Power Market, Argentina, Annual Power Consumption (GWh), 2000–2030........................... 28 Table 12: Power Market, Argentina, Breakdown of Electricity Consumption, By Sector (%), 2011 ......... 29 Table 13: Power Market, Argentina, Leading Thermal Power Projects (MW), 2011............................... 30 Table 14: Power Market, Argentina, Leading Hydropower Projects (MW), 2011 ................................... 31 Table 15: Power Market, Argentina, Leading Nuclear Power Projects (MW), 2011 ............................... 31 Table 16: Power Market, Argentina, Leading Active Renewable Power Projects (MW), 2011................ 32 Table 17: Power Market, Argentina, Leading Upcoming Thermal Power Projects (MW)........................ 33 Table 18: Power Market, Argentina, Leading Upcoming Hydropower Projects (MW)............................. 34 Table 19: Power Market, Argentina, Leading Upcoming Nuclear Power Projects (MW)......................... 34 Table 20: Power Market, Argentina, Leading Upcoming Renewable Power Projects (MW) ................... 35 Table 21: Power Market, Argentina, Transmission Line Lengths (Ckm), 2000–2020............................. 36 Table 22: Power Market, Argentina, Distribution Line Lengths (Ckm), 2000–2020 ................................ 37 Table 23: Power Market, Argentina, Major laws in order to Promote Clean Energy............................... 40 Table 24: Power Market, Argentina, Installed Capacity Share of Major Power Generating Companies (%),

2011................................................................................................................................... 42 Table 25: Pampa Energia, SWOT Analysis ......................................................................................... 44 Table 26: Endesa S.A., SWOT Analysis.............................................................................................. 47 Table 27: Petrobras Argentina, S.A, SWOT Analysis........................................................................... 52 Table 28: AES Corporation, S.A, SWOT Analysis................................................................................ 57 Table 29: Abbreviations...................................................................................................................... 62

1.2 List of Figures Figure 1: Weights Assigned to the Six Factors (%), 2000–2020 .......................................................... 11 Figure 2: Power Market, Argentina, Business Propensity Indicator Ranking

.......................................................................................................................................... 14 Figure 3: Power Market, Argentina, Cumulative Installed Capacity by Type of Power Plant (%), 2011.. 15 Figure 4: Power Market, Argentina, Cumulative Installed Capacity (MW) and Annual Power Generation

(GWh), 2000–2030 ............................................................................................................. 16 Figure 5: Power Market, Argentina, Cumulative Thermal Installed Capacity (MW), 2000–2030 ............ 18 Figure 6: Power Market, Argentina, Cumulative Hydropower Installed Capacity (MW) and Hydropower

Generation (GWh), 2000–2030 ........................................................................................... 20 Figure 7: Power Market, Argentina, Cumulative Nuclear Installed Capacity (MW) and Nuclear Power

Generation (GWh), 2000–2030 ........................................................................................... 22 Figure 8: Power Market, Argentina, Cumulative Renewable Installed Capacity (MW) and Renewable

Power Generation (GWh), 2000–2030................................................................................. 24 Figure 9: Power Market, Argentina, Total Annual Imports and Exports (GWh), 2000–2010 .................. 26 Figure 10: Power Market, Argentina, Annual Power Consumption (GWh), 2000–2030........................... 27 Figure 11: Power Market, Argentina, Breakdown of Electricity Consumption, By Sector (%), 2011 ......... 29 Figure 12: Power Market, Argentina, Installed Capacity Share of Major Power Generating Companies (%),

2011................................................................................................................................... 42

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2 Introduction Argentina is one of the largest economies in Latin America, and quality of life for the country’s population is high. An open trade market was adopted in the early 1990s. Argentina is a founding member of the G20 major economies and the United Nations. In addition, it is part of MERCOSUR, the Southern Common Market customs union with Brazil, Uruguay and Paraguay, and the Union of South America Nations. The 20th century for Argentina has so far been characterized by economic crisis, fiscal deficit, high inflation and external debt, which resulted in a major economic recession in 2001 and 2002. The country was politically unstable during this period. Following the recession, a more flexible exchange rate regime was adopted and domestic demand increased as a result of income and monetary distribution policies. Increased demand, positive interest rate trends, strong global and regional growth and favourable international commodity prices resulted in a high Gross Domestic Product (GDP) growth rate of 8% per annum between 2003 and 2007.

In 2011, GDP was estimated to have grown by XX% to $XX billion, an increase of XX% from 2010 (CIA, 2011). The service sector is expected to have accounted for the dominant share of XX% of GDP in 2011, followed by the industry sector with an estimated share of XX%. The country has an export-oriented agriculture sector and a highly diversified industrial base. Argentina exports goods to Brazil, China, the US, Chile and the Netherlands, with export goods comprising oilseeds and associated by-products, grains, livestock products, vegetable oils, automobiles, fuels, and grains. Argentina imports machinery, vehicles and transport products, chemicals, petroleum, natural gas and plastics from Brazil, China, the US and Germany.

The country has a highly liberalized energy sector, which attracts substantial foreign investment. Following the introduction of a neo-liberal program, the Argentinean government liberalized and privatized generation, transmission and distribution activities in the power sector. This has led to Argentina becoming one of the most liberalized and competitive markets in the global energy sector, although the transmission and distribution sectors are monopolistic in nature.

The Ministry of Energy is exclusively responsible for developing and implementing policies relating to electricity, oil and fuel, to promote competition and efficient resource allocation. The National Regulatory Entity for Electricity (ENRE) was created in 1993 by Law No. 24065, and was allocated the authority to set environmental rules and regulations and design procedures for implementation in generation, transmission, and distribution verticals. The Administrator Company of the Wholesale Electricity (CAMMESA) was established in order to operate the wholesale electricity market. There is substantial demand for power in Argentina, and an increase in generation will be required if rising demand is to be met. Clean sources of energy are expected to be the major upcoming technologies in Argentina in the future.

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2.1 GlobalData Report Guidance This report comprises an executive summary capturing key growth trends in the power market in

Argentina.

Chapter three covers the methodology for evaluating the Business Propensity Indicator (BPI).

Chapter four covers BPI analysis between 2000 and 2020.

Chapter five covers cumulative capacity and power generation information, and segmentation according to source of energy between 2000 and 2011, with forecasts provided up until 2030. This is followed by information relating to the consumption scenario of the market and the power consumption patterns between 2000 and 2011, with forecasts provided up until 2030.

Chapter six provides information on the infrastructure overview of the country. This includes information on leading active and planned power plants, segmented according to energy source, and data on the electricity transmission infrastructure in Argentina. Details of future development plans are also provided.

Chapter seven on regulatory structure provides a brief description of the power regulatory structure, prominent policies, and policies influencing the future of the power market.

Chapter eight provides information on the competitive landscape of the country’s power market, with complete descriptions and SWOT analyses provided for the leading companies in the market.

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4 Argentina, Power Market, Business Propensity Indicator

4.1 Argentina, Power Market, Supply Security Argentina had an installed capacity of XX Megawatt (MW) in 2011.

4.2 Argentina, Power Market, Regulatory Scenario The Ministry of Energy is exclusively responsible for developing and implementing electricity, oil and fuel policies to promote competition and efficient resource allocation.

4.3 Argentina, Power Market, Infrastructure The electrification rate in Argentina was estimated at XX% in 2007 and 2008, and it is expected to be around the same in 2011 as well.

4.4 Argentina, Power Market, Degree of Competition Since electricity distribution is deemed a monopoly market in Argentina, there is no notable competition in this sector.

4.5 Argentina, Power Market, Macro Economic Factors Argentina currently ranks XX out of XX economies in terms of ease of doing business (World Bank, 2011).

4.6 Argentina, Power Market, Future Potential In 2020, the share of electricity production held by thermal installed capacity is expected to have decreased.

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4.7 Argentina, Power Market, Business Propensity Indicator Ranking Figure four illustrates Argentina’s rankings in comparison with six other Latin American countries.

Figure 2: Power Market, Argentina, Business Propensity Indicator Ranking

0 2 4 6 8 10 12 14 16

Source: GlobalData

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5 Argentina, Power Market Analysis, 2000–2030

5.1 Argentina, Power Market, Cumulative Installed Capacity, 2000–2030 5.1.1 Cumulative Installed Capacity: Breakdown by Type of Power Plant, 2011 Argentina’s cumulative installed capacity is currently dominated by thermal fuel sources, which contributed a XX% share of total capacity in 2011. Hydropower contributed XX%, followed by nuclear power with XX%, and renewable energy with XX%.

Figure 3: Power Market, Argentina, Cumulative Installed Capacity by Type of Power Plant (%), 2011

Thermal

Hydro

Nuclear

Renewable

Source: GlobalData, Power eTrack, Capacity and Generation Database (March 16th, 2012) Note: 2011 numbers are estimates

Table 4: Power Market, Argentina, Cumulative Installed Capacity by Type of Power Plant (%), 2011

Type of power plant Percentage (%)

Thermal

Hydro

Nuclear

Renewable

Source: GlobalData, Power eTrack, Capacity and Generation Database (March 16th, 2012) Note: 2011 numbers are estimate

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5.3 Argentina, Power Market, Annual Power Consumption, 2000–2030 Total electricity consumption in Argentina increased from XX GWh in 2000 to XX GWh in 2011, at a CAGR of XX%. This increase can be attributed to urbanization and GDP increases in the country. During the forecast period, annual power consumption is expected to increase from XX GWh in 2012 to XX GWh by 2030, at a CAGR of XX%.

The government aims to encourage efficient energy use and increase the country’s capacity to meet demand, since demand is currently growing at a greater pace than upcoming capacity.

Figure 10: Power Market, Argentina, Annual Power Consumption (GWh), 2000–2030 20

00

2002

2004

2006

2008

2010

2012

2014

2016

2018

2020

2022

2024

2026

2028

2030

Tota

l Con

sum

ptio

n (G

Wh)

Source: GlobalData, Power eTrack, Capacity and Generation Database (March 16th, 2012) Note: 2011 numbers are estimate

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Table 11: Power Market, Argentina, Annual Power Consumption (GWh), 2000–2030 Year Consumption (GWh)

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

2029

2030

Source: GlobalData, Power eTrack, Capacity and Generation Database (March 16th, 2012) Note: 2011 numbers are estimate

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9 Appendix

9.1 Market Definitions The geographical coverage of the report includes Argentina. The report covers market segments related to installed electricity capacity, generation, consumption, power infrastructure and power regulations. The report covers the whole of Argentina for a quantitative and qualitative assessment of its power market.

9.1.1 Power The rate of production, transfer, or energy use, usually related to electricity. Measured in watts and often expressed in kilowatts (kW) or Megawatts (MW), it is also known as "real" or "active" power.

9.1.2 Installed Capacity Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer or the maximum rated output of a generator under given conditions. Installed capacity is given in Megawatts (MW) on a nameplate physically fixed on the generator.

9.1.3 Active Installed Capacity Active installed capacity refers to that component of electric power that actually performs work. It is given in Kilowatts (kW) or Megawatts (MW).

9.1.4 Electricity Generation Producing electric energy by transforming other forms of energy. Also refers to the amount of electric energy produced, expressed in Gigawatt Hours (GWh).

9.1.5 Electricity Consumption Consumption of electricity calculated as generation, plus imports, minus exports, minus transmission and distribution losses and measured in Gigawatt Hours (GWh).

9.1.6 Thermal Power Plant A plant in which turbine generators are driven by burning fossil fuels.

9.1.7 Hydropower Plant A plant in which turbine generators are driven by falling water.

9.1.8 Nuclear Power The electricity generated by the use of the thermal energy released from the fission of nuclear fuel in a reactor.

9.1.9 Renewable Energy Resources Naturally replenishing energy resources limited in the amount of energy that is available per unit of time. For example, biomass, geothermal, solar, wind can all be termed as renewable resources.

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9.2 Abbreviations Table 29: Abbreviations Abbreviation Full Form

AES The AES Corporation

ARN Nuclear regulatory authority

ATEERA Association of Haulage Contractors/Transporters of Electrical Energy of the Argentine Republic

bcf billion cubic feet

BTA Best Technology Available

CAGR Compound Annual Growth Rate

CAMESSA Administrator Company of the Wholesale Electricity

CCB combustion by products

CCGT Combined Cycle Gas Turbine

Ckm Circuit kilometer

CONAMA national environmental regulatory agency

ENRE National Regulatory Entity for Electricity

EPA Environmental Protection Agency

FITs Feed in tariffs

GDP Gross Domestic Product

GUMAs Major Large Users

GUMEs Minor Large Users

GUPAs Particular Large Users

GWh Gigawatt-hours

IPP independent power plants

Km kilometer

kV Kilo-volt

Mbopd thousand barrels of oil per day

MEM Mercado Electrico Mayorista

MEMSP Mercado Eléctrico Mayorista Sistema Patagónico

Mmboe million barrels of oil equivalent

MW Megawatts

NPT Nuclear Non- Proliferation Treaty

PJM Pennsylvania New Jersey Maryland Interconnection

PPA Power Purchasing Agreements

PRONUREE National Program for the Rational and Efficient Use of Energy

RCRA Resource Conservation and Recovery Act

REERP Renewable Energy and Energy Efficiency Partnership

SIP Sistema Interconectado Patagónico

sq square

Transener Compañía Nacional de Transporte Energético

T&D Transmission and Distribution

Source: GlobalData

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9.3 Bibliography ABB (2012). The Argentina–Brazil Interconnection. ABB Group.

Available from: http://www.abb.com/industries/ap/db0003db004333/2b39531fc5214b9ac125774c004212d3.aspx [Accessed on: Mar, 20 2012]

Central Intelligence Agency (CIA) (2012). The World Factbook. Central Intelligence Agency, USA. Available from: https://www.cia.gov/library/publications/the-world-factbook/geos/ar.html [Accessed on Mar 19, 2012]

DE&I Germany (2007). Energy Policy Framework Conditions for Electricity Markets and Renewable Energies: Chapter Argentina. Division Environment and Infrastructure, Germany. Available from: www.gtz.de/de/dokumente/en-windenergy-argentina-study-2007.pdf

International Atomic Energy Agency (IAEA) (2011). Argentina (Updated 2011). Available from: http://www-pub.iaea.org/MTCD/Publications/PDF/CNPP2011_CD/countryprofiles/Argentina/Argentina2011.htm [Accessed on: Mar 15, 2012]

International Monetary Fund (IMF) (2011). World Economic Outlook Surveys: World Economic Outlook database September 2011. Available from: http://www.imf.org/external/pubs/ft/weo/2011/02/weodata/weoselser.aspx?c=433&t=1 [Accessed on: Mar 19, 2012]

Ministry of Energy (2012). 1970–2010, Historical Series of Electric Power. Argentina Ministry of Energy. Available from: http://energia3.mecon.gov.ar/contenidos/verpagina.php?idpagina=3140 [Accessed on: Mar 15, 2012]

Pampa Energia (2011). The Argentina Electricity Sector. Pampa Energia. Accessed from: http://ir.pampaenergia.com/pampaenergia/web/conteudo_en.asp?idioma=1&conta=44&tipo=23467 [Accessed on: Mar, 20 2012]

World Bank (2011). Ease of Doing Business Ranking. Available from: http://www.doingbusiness.org/rankings [Accessed on Mar 20, 2012].

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9.4 GlobalData’s Methodology GlobalData’s dedicated research and analysis teams consist of experienced professionals with backgrounds in marketing, market research and consulting in the power industry, and advanced statistical expertise.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and the Strategic and Competitive Intelligence Professionals (www.scip.org) .

The following research methodology is followed for all country outlook reports.

9.4.1 Coverage This report gives detailed information on the country’s power market. It examines the country’s power market structure and provides historical and forecast numbers for generation, capacity and consumption up to 2030. The report provides insights on the market’s regulatory structure, import and export trends, competitive landscape and leading active and upcoming power projects. The report also provides Business Propensity Indicator (BPI), which benchmarks the country’s power sector against other countries in the region by analyzing the power sector of the country on six broad parameters – supply security, regulatory scenario, infrastructure, macroeconomics, competition and future potential. Each parameter has a weight assigned, and a weighted average score is calculated to obtain the country’s ranking in the region.

9.4.2 Secondary research and analysis The capacity, generation and consumption data is collected and validated using a number of secondary resources including but not limited to:

Government agencies, ministerial websites, industry associations, the World Bank, statistical databases

Company websites, annual reports, financial reports, broker reports and investor presentations

Industry trade journals, market reports and other literature

Globaldata’s proprietary databases like the Capacity and Generation Database, Power Plant Database and Transmission and Distribution Database.

Further to this, the following secondary information is collected and analyzed to project the country’s power market scenario through to 2030, analyzing factors such as the following:

The country’s macroeconomic scenario

Government regulations, policies and targets

Government and private sector investments

Contract and deal announcements

Utility expansion plans

The sector’s historic track record

Other qualitative insights built through secondary research and analysis of company websites, annual reports, investor presentations, industry and trade journals, and data from industry associations.

9.4.3 Primary Research and Analysis Secondary research is further complemented through primary interviews with industry participants to verify and fine-tune the market numbers obtained through secondary research and get first-hand information on industry trends.

The participants are drawn from a diverse set of backgrounds, including equipment manufacturers, industry associations, government bodies, utilities, distributors, and academia. The participants include, but are not limited to, C-level executives, industry consultants, academic experts, business development and sales managers, purchasing managers, plant managers, government officials, and industry spokespeople.

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9.6 Disclaimer All Rights Reserved.

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