In the span of next year, power generation by burning diesel will be prohibited by decree.
The manager of the National Electricity Company (ENEE), Roberto Martinez Lozano added that within an estimated period of two years the ban will be extended to included power generation with bunker fuel.
"Currently, 760 of 1247.8 megawatts of power available during peak hours are generated by thermal combustion power plants, both public and private, fed with bunker fuel oil derived from the more expensive petrol.
The Costa Rican state electricity and fuel companies have agreed to build a terminal for the supply of bunker fuel.
From a press release by RECOPE :
The Costa Rican Petroleum Refinery (RECOPE SA) and the Instituto Costarricensede Electricidad (ICE), have pledged to work together in developing the Pacific Terminal project, which will allow the country to have another alternative way to import fuel which will strengthen RECOPE’s value chain in infrastructure and reduces the risk of shortages, as well as providing an alternative supply of bunker fuel for consumption centers on the Pacific coast, in particular for electricity generation in the Garabito thermal plant.
The country is to invest $300 million in installing new storage tanks for bunker and other oil derivatives.
The new tanks will enable Panama to double its storage capacity from 5 million barrels now to 10 million in 2014.
Wilfredo Jordán's article for Prensa.com comments that, "according to studies, for every four ships that pass through the canal, only one refuels at Panamanian facilities".
The price of bunker in Guatemala has increased 36% over the last 12 months.
In March 2010, the cost per gallon was $ 1.79, reaching $ 2.45 in March 2011.
"Roberto Barrera, independent expert on energy issues, said that bunker maintained an upward trend similar to the barrel of oil," reported Prensalibre.com.
20% of electrical generation in the country is produced by burning bunker.
An electricity project by the ICE in Costa Rica will cause 20 tankers of fuel to be transported daily between Limon and Puntarenas by road.
According to nacion.com, "The fuel will be used to supply the Garabito Electrical Plant which his being built by the ICE at Montes de Oro next to the Inter-American Highway