The Regulatory Authority for Public Services (ARESEP) approved a reduction in electricity rates from the Instituto Costarricense de Electricidad (ICE) in all its system, which will come into effect on January 1st, 2017.
The rate reduction responds to the fact that the Reventazón Project was not included in the calculation of the base rate, because the information presented was insufficient.
Some costs and preliminary expenses incurred by the ICE in 2016 were not included either to avoid transferring the costs of one rate period to another, without having been duly justified.
The following table shows the adjustment requested by the ICE, and the one approved by ARESEP:
Adjustment requested by ICE Adjustment approved by ARESEP
Generation 9.75% -3.28%
Transmission 5.85% -11.12%
Distribution 9.75% -6.69%
Street lighting 25.09% -6.1%