High electricity tariffs scare investors in Honduras

Three US spinning companies have cancelled plans to invest in Honduras because of the high costs of electricity, said Daniel Facussé head of the national association of maquiladoras (assembly plants).

Thursday, May 15, 2008

"The spinning industry represents the first stage of the textile industry. We need them to invest but they say the recent increases in electricity tariffs don't make it economically viable," Facussé said.
"Electricity costs 3.5 US cents a kilowatt in the US and 14 US cents here," he added.

More on this topic

Moody's: Negative Outlook Rating for Honduras

February 2013

A worsening fiscal situation, together with a deterioration in the country's external finances, are cause of concern.

From a statement by Moody's:

New York, February 26, 2013 - Moody's Investors Service has changed the rating from stable outlook to negative outlook for Honduras and affirmed a B2 rating for government bonds in local and foreign currency.

Honduran SMEs Request Incentives

September 2010

Micro, small and medium sized enterprises have asked the government to create financing incentives.

The proposal seeks to develop the sector and ensure growth in the micro enterprise sector next year.

José Enrique Núñez, president of the Honduran SME Association (Anmpih in Spanish), told Laprensa.hn that, "the proposal will incentivize the opening of the new market and generate an increase in companies' production, thereby creating jobs for many people".

EU Resumes C.A. Negotiation Without Honduras

August 2009

Negotiations for the association agreement would be resumed in September without Honduras, who could rejoin later if it resolves its political situation.

This was announced by Spain Vice President María Teresa Fernández.

"She said they expect to resume them [the negotiations] mid September, and expect progress in the banana issue, the only thing still to be solved, and for what they are expectant of an WTO decision regarding European fruit tariffs", reported Prensalibre.com.

Business leader blasts back at huge electricity hikes in Honduras

May 2008

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.

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