Costa Rica News -Investment is moving away from Costa Rica because of high electricity rates. Our rates are actually the highest in Central America.
The average price in the region is 13.48 cents for one kilowatt hour and in Costa Rica it is 18.47. In Panama it’s just 10.92.
The Economic Commission for Latin America and the Caribbean indicates that the energy prices here are the highest for all types of consumption: residential, commercial and industrial.
Jorge Sequeira, director of the Costa Rican Coalition of Initiatives for Development, calls this “a real headache” for attracting foreign direct investment. It greatly reduces the country’s competitiveness.
It’s been suggested that Costa Rica open its energy market as Mexico did. This led to the generation of multimillion-dollar investments in production with clean sources and tariffs fell.