Electricity rate will drop 25% in Panama
Due to the drop in the price of oil, electric energy rates will decrease between 20% and 25% in 2009.
Thursday, December 4, 2008
The regulatory entity reported that they will hold a forum in the next few days during which they will announce the rate adjustment for the first semester of 2009.
From July 1st industrial and commercial consumers will pay the actual market rate, which is between 11% and 26% lower than the rate that was in effect during the first half of the year.
The state run electricity company has requested an increase of 5.56%; business are against it, as it heavily impacts industry costs.
Analysts and experts have questioned the claims of Otto Pérez Molina, who said that by 2015 energy prices will have fallen by 30%.
The 38% increase in electricity costs in the last 14 months has strongly affected the cost of production, causing a loss in competitiveness for domestic production.
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