Friday 3 April 2020

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20 changes that the Government applied to help companies and people against the coronavirus

With a clear focus on defending employment and freeing up money so that companies and individuals have a "cash flow" in the coming days, dulled by the uncertainty caused by the coronavirus in the economy, the Government has so far added 20 actions aimed...

ICE Ends Era of Building Hydroelectric Plants

The Instituto Costarricense de Electricidad (ICE) announced the end of an era by ruling out the construction of more of its own hydroelectric plants; a decision that could lead to a reduction of electricity rates in Costa Rica. The decision was applauded by the industrial...

Though President Proclaimed Cuts In Electricity Rates, 2020 Will Bring Increases

Though President Carlos Alvarado publicly announced cuts in electricity rates, we will see increases this year, hitting the pocketbooks of typical Costa Rican families.

Costa Rica Electric Rate Reduction Announced

Between this month and January 2020, the state power company, the  Instituto Costarricense de Electricidad (ICE), expects to reduce rates by more than 10% in regions such as Limón, Zona Sur, Pacífico Central, sectors of Guanacaste and the Greater Metropolitan Area (GAM). The first reduction,...

High Consumers Of Electricity and Water Would Pay The VAT

On July 1, the current sales tax (impuesto de ventas in Spanish) will be transformed into the new Value Added Tax - VAT (impuesto al valor agregado - IVA, in Spanish) that will begin taxing services including utilities such as water and electricity. The VAT...

Brace Yourself For A Hike in Electricity Rates for 2019

The Instituto Costarricense de Electricidad (ICE) - the national power and light company (and telecom) - announced it will be seeking an increase of 20% in electricity rates for 2019. The increase comes only weeks after the regulator of public services, the Autoridad Reguladora de...

Costa Rica Has The Most Expensive Energy in Central America

Which Country Has the Most Expensive Energy in Central America? In 2016, the average cost of 1 kWh in Central America was 13.48 cents, while in Costa Rica, it was 18.47 cents. A report from the United Nations Economic Commission for Latin America and the Caribbean,...

ICE Seeking Electricity Rate Increase To Offset Lower Sales And Higher Financing Costs

When sales drop and financing costs go through the roof, in the real world this would mean financial disaster for a business, even bankruptcy. But not if you are a state power and former telecom monopoly like Instituto Costarricense de Electricidad (ICE), where you...

Electricity Price Rises in Nicaragua

A 2% increase in electric energy rates has been announced, and an assurance that it will be the only increase during the present year, 2017. An article on Elnuevodiario.com.ni reports that Óscar Mojica, president of the Nicaraguan Institute of Energy (INE), justified the increase as...

State National Power and Light Company (CNFL) Requests Rate Increase

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...

CNFL Requests a 35% Hike In Electricity Rates For 2016

QCOSTARICA - The Compañía Nacional de Fuerza y Luz (CNFL) - national power and light company, a division of the Instituto Costarricense de Electricidad (ICE) - is looking for a 35% increase in electricity rates. The company made its request to the regulating authority, the...

ICE MUST Export Surplus Electricity

QCOSTARICA - The State electrical energy and telecommunicaions company, the Instituto Costarricense de Electricidad  (ICE) will have to sell surplus power generated in 2015 and 2016 in the regional electricity market as a way of "transfering the benefits" to domestic rates. According to the regulating...

NOT The Way To Go Costa Rica, To Tax Electricity, Water, Rents and Health

TICO BULL - One of the issues made clear by both foreign and national businesses, is that Costa Rica has to cut its electricity rates. So, while the president on the one hand gives us the impression that he agrees that electricity rates are high...

Business Warns Closures Are Much More, Just Not All Have Come To Light Publicly

QCOSTARICA - Beyond the announcement Saturday by Burger King closing four locations, the business sector warns that many more have closed or will close, just not all have come to light publicly. Just in the first two months of 2015, businesses that closed their doors...

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