A Misjudgment of Energy Requirements
The Costa Rican Electricity Institute (ICE) has significantly underestimated the country’s energy needs for the year 2023. Following a series of three rainy years, it was anticipated that 2023 would experience less rainfall, impacting the production of hydraulic energy.
Exceeding Energy Demand: A Half-Year Analysis
Contrary to ICE’s estimations, almost the entire projected energy requirement for 2023 has been consumed in the first half of the year alone. This implies a much higher demand than initially anticipated.
Consumer Impact: Higher Electricity Bills
Such a mismatch in energy demand and supply is poised to burden consumers, with a predicted 10% increase in their electricity bills starting from July.
Shift in Energy Market Dynamics
Last year, ICE emerged as the largest seller of energy in the Regional Electricity Market. However, the current situation has turned the tables, transforming ICE into one of the largest energy buyers. The energy plants ICE had planned to sell due to underutilization are now in active use, yet they fall short of meeting the soaring demand.
Potential Solution: Harnessing Solar Power
One possible solution lies in tapping into clean energy produced by individual homeowners who have installed solar power systems. While ICE is authorized to purchase excess energy from these individuals, this strategy should transition from being a mere allowance to a requirement. Harnessing this surplus energy can reduce the need for costly energy imports and mitigate the hike in electricity rates.
