• Costa Rica Real Estate Auction
  • Costa Rica Real Estate

Electricity rates for ICE customers to drop in January

December 17, 2015

Stable fuel prices expected next year will come with lower electricity rates as the Public Services Regulatory Authority (ARESEP) on Thursday dismissed an increase in rates requested by the Costa Rican Electricity Institute (ICE). Instead, the regulator approved a 6.7 percent cut that will enter into force in January.

ARESEP ruled on the decrease by rejecting ₡88 billion ($163 million) in expenses reported by ICE to justify its request, among them ₡11.1 billion ($20 million) in benefits for ICE employees that the regulator considered “unjustified expenses.”

The new rates follow a downward trend in electricity rates recorded since the third quarter of 2014, and will benefit ICE’s 739,000 customers across the country, most of them outside of the Central Valley.

ARESEP estimates that electricity rates next year will be kept in check thanks to an expected reduction in the use of thermal plants to generate electricity. The regulator expects thermal generation in 2016 to be 10 times lower than in 2014, meaning ICE will buy up to 22 times less fuel than it did last year.

This year, the country went a record 255 days using purely renewable energy, according to the presidency.

With the new approved rates, a family with an average monthly consumption of 250 kilowatt/hour will see its January bill drop ₡870 — about $1.60 — to ₡23,350 ($43.35), ARESEP said. Save that up over a year, and you might be able to buy a nice lunch for two — unless the rates go up unexpectedly in 2016.

You may be interested

Pura Vida in Costa Rica: Part 3 of 3
Travel & Tourism
144 views
Travel & Tourism
144 views

Pura Vida in Costa Rica: Part 3 of 3

Ed Boitano / Traveling Boy - November 20, 2019

Travel writer Ed Boitano recently spent some time in Costa Rica. He chronicled his experiences at the publication Traveling Boy. …

Volaris freezes growth in Costa Rica, citing high operating costs
Business
38 views
Business
38 views

Volaris freezes growth in Costa Rica, citing high operating costs

Alejandro Zúñiga - November 20, 2019

Enrique Javier Beltranena Mejicano, the CEO of Volaris, says the low-cost airline plans to "freeze growth in Costa Rica" in…

Spanish airline Evelop will offer flights to Costa Rica in 2020
Costa Rica
48 views
Costa Rica
48 views

Spanish airline Evelop will offer flights to Costa Rica in 2020

Alejandro Zúñiga - November 20, 2019

Spanish charter airline Evelop will offer flights between Madrid and Costa Rica starting in June 2020, the Costa Rican Tourism…

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