ICE asks to raise electricity rates by 24 percent

The Costa Rican Electricity Institute (ICE) requested the Public Services Regulatory Authority (ARESEP) to raise electricity rates in households by 24.18 percent in 2012.

The increase, if approved, would be applied to 2010 prices. Families would not be paying 24 percent more on the sum they currently pay, but 24 percent more on their 2010 fees, reported the daily La Nación. In practical terms, every household would be paying an additional ¢170 ($0.35) for every ¢1000 ($2) paid today.

ICE also requested a 21.7 percent increase for industrial electricity rate.

Both requests were officially made more than two weeks ago, but ARESEP asked ICE to explain their costs of operation in order to formally launch the petition.

According to La Nación, last May ICE requested an increase for a short period that expires Dec. 31. Álvaro Barrantes, energy director in ARESEP told the daily that if the increase is not approved, ICE electricity prices would fall back to 2010 rates.