June 9th, 2014 (InsideCostaRica.com) Despite frequent complaints from residents and business leaders over its cost, Costa Rica leads Central America and is number two in all of Latin America in providing reliable electricity service to its residents, according to a recent ranking by the American Construction Industry Federation (ISEF).
The study analyzes the coverage and reliability of electric service throughout Latin America.
Costa Rica led the way in Central America, ranking 44th globally, compared with Panama (49th), Guatemala (53), El Salvador (80), Nicaragua (97) and Honduras (110).
Costa Rica even beat Latin America heavyweights Brazil, Argentina, and Chile, ranking #2 in Latin America overall, behind only Uruguay (ranked 43rd globally).
According to the study, Costa Rica has managed to provide 99% of its population with electricity, with a total installed capacity of 2,723.2 MW.
Of the total installed capacity, 62.4% of power is the result of hydroelectric generation.
Despite the seemingly positive news, business leaders continue to express their concerns over the high price of electricity in the country.
“[We] can’t complain about the level of service, but the price is the cause of concern,” said Juan Ramon Rivera, president of the Chamber of Industry.
A legislative subcommittee is currently analyzing legal reforms to encourage greater private-sector electric generation, which some lawmakers and business leaders believe will result in lower prices.
Drafts of the reforms are expected by next month.