Court Orders Electrical Rate Reduction
September 10th, 2009 | by admin |The Tribunal Contencioso Administrativo ordered the 7.2% electrical rate reduction approved by the Autoridad Reguladora de los Servicios Públicos (Aresep) and appealed by the Instituto Costarricense de Electricidad (ICE).
The rate reduction was to have gone into effect on September 1, however, an appeal by ICE put the brakes on the reduction and following several adjourned court dates, judge Grace Loaiza Sánchez, handed down the decision late this afternoon, after rejecting ICE’s arguments of financial hardships.
The Aresep approved the reduction following evidence that ICE would be spending some ¢50 billion colones less than budgeted.
The rate reduction takes effect tomorrow, Thursday, September 10.
The rate reduction is applicable to all electrical services in the country ranging from 6% to 8.2%, depending on the region.
