ICE electricity rates will rise 5.32% from July

The rise of ICE was foreseen in 15.57%; Now the adjustment will be phased in over 18 months

This decision results in a reduction in the average adjustment planned for the third quarter rate of 9.66% to 1.60%

June 27th,2014.

The rate hike light Instituto Costarricense de Electricidad ( ICE ) will be 5.32%, 15.57% less than that planned, reported Regulatory Authority of Public Services ( Aresep ) in a statement.

The decision was made yesterday by the Board of the Regulatory Authority for Public Services (ARESEP), which hosted a request from ICE to defer adjustment in electricity tariffs over a period of 18 months, instead of applying the increase once.

"This bill will allow 'flatten' rate during this period and well distributed in time additional charges arising from thermal generation, which have occurred due to the decrease in the amount of rainfall that has occurred in recent months," explained .

According to the Board, it was decided to defer the adjustment in that period for reasons of expediency, convenience and public interest. They considered it a relief that would mean for users, both corporate and households.

The adjustment will vary by retailer power: the CNFL will be 4.33% instead of 14.55%; that of JASEC, 2.71% instead of 15.14%; and ESPH, of 2.14% instead of 12.01%.

This decision results in a reduction in the average adjustment planned for the third quarter rate of 9.66% to 1.60%.

Source: La Nación