• Costa Rica Real Estate

Electricity rate hikes take effect in April

April 10, 2014

Electricity rates will increase by between 6.87 percent and 9.81 percent, depending on the service provider,  starting next month, the Public Services Regulatory Authority (ARESEP) said on Friday.

The agency approved the hikes after taking into account an increase in thermal-generated electricity prompted by harsh conditions during the dry season.

A lack of rainfall last year forced companies to generate electricity using fuel to meet a shortfall in energy generated by hydroelectric plants.

ARESEP’s Energy Superintendency said the state-owned Costa Rican Electricity Institute (ICE) likely would have to import energy from other Central American countries in order to meet local demand at a lower cost.

That means the increase on ICE bills will total 6.87 percent, compared to Coopesantos customers, who will be billed the highest increase at 9.81 percent.

Other service providers and rate hikes are as follows: National Power and Light Company, 7.35 percent increase; JASEC, 8.79 percent; Public Services Company of Heredia, 8.66 percent; COOPELESCA, 5.21 percent; and COOPEGUANCASTE, 6.92 percent.

ARESEP also reported that a quarterly review concluded that the amount of thermal generation needed to meet electricity consumption for the next period is actually lower than that projected by the previous review conducted last year.

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