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 Costa Rican Chamber of Industries on Thursday blasted a new 3.7 percent increase in electricity rates requested by the Costa Rican Electricity Institute (ICE). Chamber leaders urged the Public Services Regulatory Authority to reject the request, noting that ICE in July promised to cut spending and stabilize its finances in order to prevent electricity rate hikes for the next year and a half.
Costa Rican President Luis Guillermo Solís attended the signing ceremony, saying the planned geothermal projects “will not interfere with territory in national parks.” Instead, he said they involve “new technologies that permit the exploration and utilization of wells without damaging conservation areas.”
As Costa Rica debates the pros and cons of joining the Venezuelan oil financing program Petrocaribe, energy experts meeting in Washington warned that countries already addicted to Petrocaribe’s cheap oil could face catastrophe if the Venezuelan economy under President Nicolás Maduro implodes.
President Luis Guillermo Solís extended the country’s ban on petroleum exploration and extraction until 2021 as well as creating guidelines for energy efficiency in government agencies.
Although the National Meteorological Institute (IMN) confirmed a drop in rainfall levels for the current rainy season, the Costa Rica Electricity Institute (ICE) has ruled out power outages later this year.
Geothermal energy, the productive use of the vast quantity of thermal energy within Earth's crust, is one of the few renewable, low-carbon emission energy sources that can consistently generate power 24-hours a day, irrespective of the season.
Although President Luis Guillermo Solís had promised not to use Ticos' euphoria over Costa Rica’s performance at the World Cup to promote increases in public utility rates, a 5.38 percent hike in electricity went into effect last Tuesday.
Small-scale energy production, such as solar panels, saw a regulatory hurdle removed that could help combat late-dry season energy rationing and reduce the country’s reliance on petroleum. The country’s electricity regulator, the Public Services Regulatory Authority, announced a series of changes on Wednesday.
