Friday, 4 December 2020

Riteve Rate Increase Application Rejected

Typical Riteve vehicular inspection station
Typical Riteve vehicular inspection station

COSTA RICA NEWS – The Autoridad Reguladora de los Servicios Públicos (Aresep) – regulatory authority for public services – rejected the application for an increase of ¢20,100 in the rate vehicular inspection.

Riteve had sought to increase the current price for a passenger vehicle of ¢9,930 to ¢ 30,030.

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ARESEP spokeswoman Carolina Mora explained that Riteve cannot ask for a rate adjustment until the Consejo de Transporte Público (CTP), a division of the Ministry of Transport, approves a methodology for setting rates.  Riteve has been waiting for the CTP methodology since starting operations in the country in July 2002.

The ARESEP decision is based on Clause 9.4 of the concession contract between the state and the company.

Despite multiple requests for adjustment in rates, Riteve has not received an increase in the last 10 years.

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