• Costa Rica Real Estate

Electricity rates for ICE customers to increase in October

September 26, 2014

The Public Services Regulatory Authority (ARESEP) approved a 3.7 percent increase in electricity rates requested by the Costa Rica Electricity Institute (ICE). The new rate was published in the government’s official newspaper La Gaceta on Thursday.

The increase will apply to both residential homes and businesses beginning in October, according the publication.

The rate hike came despite promises made ​​by President Luis Guillermo Solís in July to not raise utility rates for 18 months. ICE’s Executive President Carlos Obregón said Thursday that their adjustment request to ARESEP is necessary to cover energy import costs this year in the Regional Electricity Market. Those costs total $58.9 million.

The rate increase upset various sectors in the country, which criticized ICE for promising price stability in July.

The Costa Rican Chamber of Industries (CICR) on Thursday evening said in a statement that “high energy costs are the main cause for the sector’s loss of competitiveness that in the past 19 months has cost some 6,000 jobs.”

“Electricity rates so far this year have increased by 20 percent and now we must add this new hike, which will have another big impact on the business sector’s competitiveness, and that will affect the generation of new jobs,” said CICR President Enrique Egloff.

ARESEP also said it is evaluating a reduction in electricity rates that could be approved, pending the results of a calculation that takes into account the costs for purchasing oil for electricity generation. The calculation is done every three months.

ARESEP spokeswoman Carolina Mora said both the higher ICE rates and the lowered ARESEP rates likely would take effect at the beginning October, so the changes couch cancel each other out.

 

Facebook Comments

You may be interested

Slothy Sunday: Counting down to the 4th annual Sloth Ironman Games
Sloth Sundays
206 views
Sloth Sundays
206 views

Slothy Sunday: Counting down to the 4th annual Sloth Ironman Games

Zara Palmer / Toucan Rescue Ranch - July 21, 2019

Did you know that there is an internationally recognized holiday all about sloths? That’s right – there is, in fact,…

Space Ticos: Astronaut Franklin Chang with Barack Obama in 2015
Newsletter
3409 views
Newsletter
3409 views

Space Ticos: Astronaut Franklin Chang with Barack Obama in 2015

The Tico Times - July 20, 2019

Saturday, July 20 marks 50 years since the Apollo 11 crew made their historic landing on the moon. To commemorate…

Updates: Health Ministry suspects 19 deaths due to adulterated alcohol
Costa Rica
5828 views
Costa Rica
5828 views

Updates: Health Ministry suspects 19 deaths due to adulterated alcohol

Alejandro Zúñiga - July 19, 2019

Costa Rica's Health Ministry last week issued an alert over liquor that has been sold to the public containing deadly…

Do NOT follow this link or you will be banned from the site!