The Public Services Regulatory Authority (ARESEP) is studying a decrease in fares of 85 percent of bus routes in Costa Rica.
ARESEP said in a statement that, if approved, 52 percent (1,845) of the current 3,555 routes would see fares in the country decrease by â‚¡5 ($0.01).
Also, 15 percent (547) of them would decrease â‚¡5-â‚¡10 ($0.01-$0.02), and 17 percent (620) would have a â‚¡10-â‚¡105 ($0.02-$0.21) decrease. Another 15 percent (543) would maintain their current fares.
The adjustment will be set using the extraordinary methodology, which means ARESEP takes into account variations in fuel costs, salaries, maintenance and administrative costs occurred from July to December 2012.
The proposal will be submitted to public consultation in February, in order to allow users to know the specifics on the adjustment request.
ARESEP also reported that they rejected a 9 percent increase request in electricity rates filed by the National Power and Light Company, for failure to present all required documents.
