Electricity
Rate Decrease To Be Decided Today
A San José court will today decide if the
approved 7.2% reduction in electricity rates
will go ahead of be cancelled, following a
court filing by the Instituto Nacional de
Electricidad (ICE) against the Autoridad
Reguladora de los Servicios Públicos (ARESEP).
The rate decrease was to have taken effect
on Tuesday, September 1.
However, judge Grace Loaiza Sánchez decided
on Monday to suspend the reduction until a
hearing was held on the ICE motion.
ICE objects to the regulator's decision to
reduce electricity service rates, saying it
(the decrease) would affected negatively the
financial position of the institution.
The Aresep approved the decrease based on
evidence that ICE would be saving ¢52
billion colones in electrical generation
this year and decided to pass on the savings
to the consumer.
In contrast, ICE argues that it would lose
¢10 billion colones in revenue if the
decrease is allowed to take effect. |
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