We all know the tales of ICE, Costa Rica’s Electricity monopoly. Their inability to run a business and continual losses are well documented. Now here is the fun part…..their losses are now going to be possibly passed onto the consumer. Why would they want to take responsibility for their actions…..that’s not the Costa Rica way.
Two weeks ago, ICE got an 8% raise in monthly electricity bills for its 775,000 subscribers approved by the Public Services Regulatory Authority (Aresep) and then it closed the year requesting another 20% increase for 2019.
The 8% raise will be applied from April 1st through the remainder of the year. It is an ordinary change that public services request annually mainly to pay debts due to the difference in dollars and colones. This should generate ¢55,937 million.
The second adjustment in question would correspond to a settlement of expenses for 2017 from the purchase of energy from private generators. The price per kilowatt in the consumption block from 41 to 200 kWh would rise by ¢16.03. The average family would pay ¢18,944 instead of ¢15,738.
At the end of 2017, ICE requested a 19% increase but Aresep rejected this due to lack of supporting information. The adjustment made was only 1%, leaving ICE in the red. ICE closed 2018 with losses of about ¢314,000 million.