The announcement was made by president Ricardo Martinelli, at a meeting with the Union of Industry.
From newspaper La Estrella: "In the meeting, Martinelli informed them that the reduction was achieved after reaching a consensus with energy generation, transmission and distribution companies. This would be the second reduction in less than two months, given that on July 1st, fees were lowered almost half a cent per KWh".
Electric power fees will be reduced between 10% and 12% starting October 12th.
The exact reduction will be known by the end of the month, after the fee adjustment process for April-September 2009.
This was reported by the Electricity and Telecommunications Superintendence (Siget), and electric power company AES, who added that "these adjustments are done every six months, on April 12 and October 12 of each year".
The Government reported that it will not make any reductions in rates for the National Electric Energy Company, due to the deficit of $39 million.
"You should be aware that the State subsidizes the consumption of energy, that consumers are not paying the real price despite what is said by people in the industrial and commercial and other sectors," Energy minister, Rixi Moncada, said.
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