Costa Rica News – Well this is one way to get rid of debt.
The National Power and Light Company of Costa Rica (CNFL, for its acronym in Spanish) will begin charging its customers for the debt the company currently has with the Costa Rican Electricity Institute (ICE).
The CNFL buys energy from ICE in order to provide services to 520,000 customers in the Greater Metropolitan Area. The debt accrued over five months and was generated by an increase in the price of energy distributed by ICE.
The current amount owed is ¢13,318,000, but every month of delay increases the debt by ¢2,600,000. The CNFL Director of Administration and Finance Marvin Céspedes suggested that the increase is gradual so as not to shock the customers.
The company’s finances have been deteriorating in previous years; they finished business in 2014 with a loss.
The raise in prices is essential to ensuring that the company is able to sustain itself and continue providing services.
