The Costa Rican Institute of Electricity (ICE) plans to sell or rent all of its idle properties and equipment. There are 3,000 properties it can sell. It intends to make 10% of the total value of each asset.
Other efficiency measures being considered include closing thermal plants and reducing payroll. All of these changes are aimed at earning more liquidity and improving the management of the public company.
Hazel Cepeda Hogdon took office as general manager in August and is behind the endeavors. She points out that renting out strategic locations could monetize them. Non-strategic properties will be sold. Obsolete equipment that generates more cost than benefits will also be gotten rid of.
Cepeda promised transparency as well as that “2020 is going to be the year of efficiency in the Institute.” She expects to close the year with about ₡3,000 million in savings.