Thursday 8 December 2022

Government announces reduction in electricity rates and 31% reduction in tariffs for rice imports

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8 December 2022 - At The Banks - BCCR

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QCOSTARICA – In the wave of rising prices, two items will offer relief to consumers: electricity rates and the price of rice.

Consumers could soon see a drop in the price of rice due to a reduction of tariffs for importing rice.

On Wednesday, the government announced reductions in electricity rates and tariffs for importing rice.

In the case of rice, it is a decree that is being submitted to consultation and that reduces the tax for the entry of grain into the country from 36% to 5%, which will impact the final price to consumers.

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President Rodrigo Chaves explained that compensation will be provided to national producers.

Erick Ulate, President of Consumers of Costa Rica, emphasized the importance of this measure since rice is an important part of the diet of the entire population.

Regarding electricity rates, President Chaves explained that there will be a 5.56% reduction for clients of the Instituto Costarricense de Electricidad (ICE) and 4.76% for clients of the Compañía Nacional de Fuerza y Luz (CNFL) – an ICE division.

The government confirmed that there will also be a reduction of 1.6% to 10% in electricity rates for subscribers of distribution companies such as the Empresa de Servicios Públicos de Heredia (ESPH)  and the Junta Administrativa del Servicio Eléctrico Municipal de Cartago (JASEC).

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