ICE lights up an alert for worse finances than in previous years


2012 closed even, ICE didn’t record losses but it didn’t record any winnings either, the condition for this year is the one of a delicate patient.

In a message sent to the entire staff this Monday, Teófilo de la Torre, executive president of the Costa Rican Electricity Institute (ICE), he recognizes that the utilities produced by telecommunications have become null.

“Sadly, he adds, that begins to aggravate the excellent financial portrait of ICE in the past decade.”

The hierarch blames the strong growth in the expenses for this situation, due to an increase in the staff; meanwhile the incomes for sales from the sector were dropping.

Such decisions, De La Torre affirms, were taken before his return to the entity, a year and a half ago, and at the doors of the arrival of transnational competitors.

In 2011 the entity closed the year with losses for 22.112 million colones, which motivated the intervention of the government, ICE was then forced to cut expenses by 80.000 million colones.

Around half of December, the hierarch affirmed that the measures allowed them to close the year without losses, although the numbers weren’t precise, they were still doing calculations.

Yesterday it wasn’t possible to find De La Torre even though he was being looked for by the office of press and through email.

In between so much, the ministry of energy and environment, René Castro, informed that the government is waiting for the ICE financial report of 2012. He added that the delay happened because on December 20th, when ICE was closing his reports for the year, the exchange rate of the colon in respect to the dollar increased by 10 colones. He explained that this had a serious implication for the Institute because it has a debt in dollars for $4.000 million. Due to all of it they had to do the estimations all over again.

Such report must be presented at the end of the month to the Government Council, Castro declared.

Jorge Arguedas, president of the Technicians in Telecommunications Association (Anttec), said that they are waiting for that report and that the doubts are clarified regarding the actions that ICE will decide to take.

Support for the future. In the release, De la Torre asked for support because of the actions that will be taken this year with the hope of returning financial stability.

In this measures, one that sticks out “align the edge perfectly” the principal processes that allow efficiency and effectiveness to the telecommunication business.

However, he states the necessity of diminishing the rates for the electric service due to the strong growth that it has had in the last couple of years.

He also proposes a revision of the strategic plan of the entity, to make it suit today’s reality, and he encourages the staff to keep the “finances under a critic magnifying glass”