ICE raises electric prices by 4.5%

Households which electric service depends on the ICE must adjust their budget to pay 4.5% over the next seven months.

The increase granted by the Regulatory Authority for Public Services (Aresep) represent some additional ¢ 600 for a family with an average consumption of 200 kilowatt hours (kWh).

For that case, the monthly bill will increase from ¢ 14,400 to ¢ 15,000.

In addition, generation rates will up 7.6% (this will affect the rates of other distributors and cooperatives) and street lighting, from 3.8%.

Through the press office, the manager of the ICE, Gravin Mayorga said that insufficient tariff income appropriate to cover operating costs, as in the case of fuels, requires that entity to limit funds for other expenditure items.

He added that, as in previous years, during this 2012 given that the build system had income from rates below the actual expenditure for purchases of fuel, have had to resort to credit the short term “to ensure the financial sustainability “. This increases the final cost of electricity, he said.