Electricity rates to rise in Panama

The cost to businesses of turning on the lights will go up by between 0.2 and 2.4 hundredths of a cent per kilowatt hour.

Friday, June 27, 2008

Panama's Chamber of Commerce, Industry and Agriculture estimates that this could convert into an increase of up to 10 percent in electrical bills for its members.
"This will directly affect the finances of the business sector, since energy is one of the main costs after the payroll for most enterprises," said José Ramón Varela, the chamber's president.
"But the effect will be greatest in industry and agroindustry and could result in new increases in the prices of products and services, with inflationary consecuences."

More on this topic

21% Increase in Industry Electricity Prices

January 2013

The National Authority of Public Services in Panama doubled the anticipated increase in the cost of electricity for industrial uses.

The price of electricity in the industrial sector in Panama increased 21% for the first half of 2013.

This increase doubled the rate established by the National Authority of Public Services (ASEP), on June 26, 2012 for the first six months of this year.

Electricity Rates Up 15% in Guatemala

January 2010

The cost of non-subsided electricity will increase 15% on February 1st.

Carlos Meany, minister of Energy, explained that the increase will only affect users who consume more than 300 kilowatts a month.

"The increase is in response to lower hydroelectric generation, caused by a shortage of rain, and increases in the price of petroleum", reported Prensalibre.com.

Cost of Electricity Could Double

May 2009

A Guatemalan court held that EEGSA electricity company was right in its claim, which would raise the cost of a kilowatt from $0.16 to $0.25.

If this ruling is confirmed in superior courts, the increased cost of production would be inaccessible for many businesses.

Carlos Colom Bickford, president of the CNEE, told Elperiodico.com.gt: "We are extremely surprised and troubled by the decision in favor of EEGSA, but we filed an appeal before the Constitutional Court to correct the resolution."

Panama to increase electricity rates by 10%

June 2008

The Government of Panama has authorized a 10 percent increase in electricity rates. The new rate could come into effect as early as July, depending on the consumption of electricity by Panamanians.

The Panamanians will have to face a new increase in their light bills because not only will they pay for fuel clause that appears on their light invoices, they will also pay another 10 percent in direct billing.

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