Q COSTA RICA – The Compañía Nacional de Fuerza y Luz (CNFL) – State national power and light company – has made a request for an increase in electricity rates of of 26.6% for the second half of this year and another 13.75% for next year.
The CNFL, a division of the Instituto Costarricense de Electricidad (ICE) has 540,000 customers across the country.
The utility claims the adjustments are “indispensable” to “solve the lack of resources that is projected for the 2017-2018 period.”
The request is that the rate hike go into effect in July for the second half of 2017 and on January 1 for next year.
CNFL general manager Victor Julio Solis argues in his request to the Autoridad Regualdora de Servicios Publicos (Aresep) – regulator of public prices and services – that the non-approval of the rate hikes would jeopardize the implementation of the investment plan and commercialization of electrical energy.
In its report, La Nacion details how the CNFL has proved inefficient in its management and implementation of projects such as the hydroelectric plant Balsa Inferior and Parque Eólico Valle Central, and these failed investments partly explain the CNFL also asking for an adjustment in the rate of generation (the costs of the company producing electricity).
Specifically, the company asked the ARESEP for a 175% increase in generation from July this year and also 126% at the same rate for 2018, according to the file number ET-018-2017 which is being processed by the regulator.