Electricity Prices Rise in Metropolitan Area

ELECTRICITY bills will soon be18% higher in homes around the metropolitanarea, the Public ServicesRegulatory Authority (ARESEP)announced this week.ARESEP approved the rate hike formore than 370,000 National Power andLight Company (CNFL) residential customersin San José, Tibás, Guadalupe,Escazú, Santa Ana, Montes de Oca,Moravia, and Desamparados, according tothe daily La Nación.Various rate hikes were also approvedfor municipalities and other agencies.According to ARESEP, the rate hikesaverage to an increase of 14.42% for CNFL,which will allow the company to compensatefor the increased price of energy fromthe Costa Rican Electricity Institute (ICE).The prices will go into effect oncethey have been published in the officialgovernment newspaper, La Gaceta.