Industrial chamber unhappy with rate hike

The industrial chamber says the price regulating agency is inconsistent because it has approved a 3.7 percent increase in electrical rates. The Cámara de Industrias de Costa Rica said that the Autoridad Reguladora de Servicios Públicos promised to hold the line on rate increases for 18 months.

The Instituto Costarricense de Electricidad has received a 7.11 percent increase in generation and the 3.7 percent increase in distribution rates.

The chamber noted that this means electrical rates will have gone up 20 percent in the year. The increase injures the competitivity of the country and the industrial sector that has lost 6,000 jobs in just 19 months, said the chamber.

The chamber discounted the claim that the increase would be absorbed by an Oct. 1 rate cut because the reduction is not finalized, it said.

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