The President of the Republic of Ecuador, on may 6, 2020, ordered the merger of the Mining Regulation and Control Agency, the Electricity Regulatory and Control Agency, and the Hydrocarbon Regulatory Agency (Executive Decree 1036). As a result of this merger, a single entity called "Agency for Regulation and Control of Energy and Non-Renewable Natural Resources" is created. The Decree orders:
- The rights and obligations in agreements, contracts or other instruments, whether local or international, that correspond to each of the aforementioned entities, will be assumed by the Agency for Regulation and Control of Energy and Non-Renewable Natural Resources
- The merger process must be completed in a period not exceeding 60 days, starting from may 6, 2020.
- The agencies to be merged shall guarantee the continuity of the pre-contractual, contractual and administrative, judicial and extrajudicial process, as well as the different services, programs and projects already started, until their formal transfer to the Agency for Regulation and Control of Energy and Non-Renewable Natural Resources occurs.
We hope that this information, which is of a general nature, will be of use to you. If there is any particular concern of any nature, we will gladly attend to it when required.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
