Regulatory Authority approves lower electricity rates starting October
The Public Services Regulatory Authority (ARESEP) approved a drop in electricity rates for all generation and distribution companies that will take effect the last quarter of this year. Depending on the utility company, rates will decrease by 1.15 to 3.82 percent starting on Oct. 1.
That applies to electricity rates from the country’s eight power distribution companies and corresponds to ARESEP’s most recent calculation of variations in fuel prices conducted last week.
Annual projections in December 2014 showed that the country during the last quarter of 2015 would be required to spend ₡2 billion ($3.8 million) in fuel for thermal generation.
“The current estimates are that generators will not be required to use any of the thermal plants over the next three months, therefore, the purchase of fuel for that period will cost zero colones,” ARESEP reported.
The Costa Rican Electricity Institute supported ARESEP’s evaluation and reported that according to their latest projections, reservoir levels at hydroelectric plants will remain stable for the last quarter.
ARESEP also stated that the launching of new generation projects and opportunities to buy imported energy at lower prices in the regional electricity market also favored lower rates.
The complete list of approved decreases by company can be found on ARESEP’s website.
You may be interested
Photo of army ants in Costa Rica wins international awardThe Tico Times - October 23, 2019
Costa Rica's striking natural beauty looks almost as good on camera as it does in person. Don't just take our…
University students march in Costa Rica against budget restrictionsAFP and The Tico Times - October 23, 2019
Thousands of students and workers from the five public universities of Costa Rica marched to Casa Presidencial on Tuesday to…