The Public Services Regulatory Authority (ARESEP) approved reductions in electricity rates ranging from 7 to 15 percent starting April 1. The new rates will remain in place at least until June.
Lower rates will benefit some 1.5 million industrial, commercial and residential customers covered by eight utility companies.
In approving the rates, ARESEP took into consideration a substancial reduction in thermal generation costs, plus recent drops in prices recorded in the international fuel market.
Use of fossil fuels to generate electricity significantly dropped during November-January, allowing companies to lower production costs, the Regulatory Authority reported.
The reduction in tariffs will vary according to the utility company. Customers of the Public Services Company of Heredia will benefit most: their rates will decrease by 15 percent.
On the flip side, residents in the northern region, served by Coopelesca, will only see an 8 percent decrease in their monthly rates.