The new rates will take effect on April 12 and continue to be in force until July 12.
Abraham Bichara, president of AES El Salvador, said dry season forces hydroelectric plants to operate at minimum levels, increasing thermal generation, which is affected by higher oil prices.
"If there is rain in May, we hope prices can drop. We also hope we can see a real downward trend in July, during the winter," stated Bichara to Laprensagrafica.com.
laprensagrafica.com More on this topic
Two months of severe drought in the United States, the world's largest producer of soybeans and corn, has raised prices to record highs.
Yesterday, August 21, soybean prices opened at a record high: a bushel for November delivery, the current benchmark contract, now costs up to $17.26 per bushel (about 25 kg).
Electricity rates will increase by at least 13%, reported representatives of generating and distribution companies in the country.
The exact increase will be announced on July 12, when the new electricity tariffs, which are currently being studied by the Superintendency of Electricity and Telecommunications, will be defined.
The price of the average lot next to the recently inaugurated highway increased between 25% and 60%.
Realtor Jorge Rosales reported that some plantations that used to be sold at $9 per square meter have doubled their value ($18 per square meter).
El Financiero analyzed several aspects of this situation, including the real estate and the construction materials markets.
Honduran business leaders, as well as the population at large, have been alarmed at electricity tariff increases – imposed because of the surge in oil prices – that now total 120 percent.
Roberto Arturo Caballero, vice-president of the national small business association, Anmpih, said an additional problem was corruption in the state electricity company, Enee.