Subsidy to companies eliminated in El Salvador

Starting today, August 12, the first section of the electric energy subsidy granted to commercial and industrial companies will be eliminated.

Tuesday, August 12, 2008

This is based on an agreement taken by the commission with representatives from government institutions and private entitities that have to do with this matter.
According to the agreement, the second section of the subsidy will expire on May 12, 2009 and the third on 12 October next year, although these are not final dates.

More on this topic

End of energy grant is agreed in El Salvador

July 2008

The private sector and the Executive agreed to eliminate the grant on electric energy for commercial and industrial users.

The grant will be eliminated in three phases, with the first one on August 12, the second on May 12, 2009, and the last on October 12, 2009. Phase one will take out 40% of the grant, while the next two phases will eliminate 30% each.

Electric Rates in El Salvador Increase 14%

February 2009

With the elimination of the subsidy, starting May, the electric bill for the private sector will increase 14%.

Irene Brave in her article in Laprensagrafica.com writes: "The government negotiated the elimination of the subsidy for the private sector last year, and the National Association of Private Enterprises (ANEP) proposed to do it in a gradual manner to avoid an abrupt impact on the costs of business and, therefore, in the prices of products. Thus, it was determined to eliminate 40% of the subsidy in August of 2008. A second phase of the implementation will be carried out next May 12th, with an adjustment of 30%, and, finally, on October 12th, 2009, the remainder 30% of the subsidy will be removed."

El Salvador: The electric bill for large companies increases by $70,000

August 2008

The monthly electric bill will increase, depending on the size of the company, due to the elimination of the first part of the electricity subsidy.

Executive director of the union, Jorge Arriaza, confirmed yesterday that for small and medium businesses in the industrial sector the increase will be between one and eight thousand dollars per month.

Electricity subsidy at risk in El Salvador

November 2008

Electricity companies announced that there will be an increase in energy rates if Cel does not fulfill its commitment to subsidize consumption.

The scarcity of liquidity in the financial market could be the reason the Rio Lempa Executive Hydroelectric Commission (CEL) has not been able to pay the $94.7 million in subsidies claimed by the generating and distributing electric companies, according to the Technical Secretary oh the Presidency, Eduardo Ayala Grimaldi.

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