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Cost of Living Increase in Costa Rica; Electricity Prices Going Up

Costa Rica News – The Public Services Regulating Authority (ARESEP) has proposed an increase in electricity rates beginning in July. The exact amount will vary but in most of the country rates will increase from 12-16%.

electricity costa ricaThese percentages are still waiting on approval and come at a time when the new government seeks to lower expenses for the local people.

Cartago and Heredia have their own electricity companies while the Costa Rican Electricity Institute and the National Electric Company are in charge of the rest of the country. Heredia’s increase is said to be the least at 12% and the general rate for Costa Rican Electricity Institute clients the highest at 16%.

The Costa Rican electricity sector has declared a crisis situation due to the lack of rain in the past few months. Hydroelectric production generates a large percentage of the country’s electricity but 2014’s first trimester was the worst in nine years.

Production was drastically decreased and thermic production was increased to make up for the loss. Thermic generation is more expensive and will be used July through September.

Families that consumes 200 kilowatt hours per month currently pay ¢17,400. If the increased are approved, this same family would pay ¢20,184. That is almost ¢3,000 or around $6 per month.

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