San Jose, Costa Rica – Well we have just found out how ICE will make their money back really quickly in the financial bind they are in. Regulatory Authority of Public Services (Aresep) authorized an increase of 7.9% in the rates of generation and 3.6% for electrical distribution Instituto Costarricense de Electricidad (ICE). For a family with an average consumption of 200 kilowatt hours (kWh), this increase represents an additional expenditure of ¢ 400 per month.
In this case the kilowatt hour will increase from ¢ 68 to ¢ 70 for the first 200 kWh of consumption. Meanwhile, consumption between 201 kWh and 300 kWh consumed per unit of increase of ¢ 125 to ¢ 130.
The regulator said that this increase recognizes additional cost of ¢ 19,000 million on purchases of fuel for power generation during the previous year.
In 2011, the rates approved Aresep recognized the lubricants and fuel expenditure of ¢ 65.106 million, but at the end of the year was an increase in spending on these products, so we need a new price adjustment. For this, the Institute had requested an increase of 11.26% (¢ 29 823 million).
The calculation also recognizes the difference in energy import bills and export income, because sometimes it is best to import to generate thermal plants.
During 2011, imports accounted for ¢ 582 million, which is cheaper to generate heat.
The adjustment in generation costs will affect companies that buy power from ICE, such as JASEC, CNFL, ESPH and four cooperatives in San Carlos, San Jose, Los Santos Alfaro Ruiz. The Aresep start the automatic procedure for changing prices for their respective companies.
The new rates shall take effect following its publication in La Gaceta in the coming days. However, after eight months, the rates will return to the current price.