The Public Services Regulatory Authority (ARESEP) insisted that it approved a lower rate increase than the one originally intended by the Costa Rican Electricity Institute (ICE). The entity requested an increase of 9.95% in the distribution rate, but the regulatory body approved 4.82%.
ARESEP confirmed that it carries out a ‘rigorous analysis’ of the investments made by the institute.
In cases of generation and transmission rates, ARESEP approved only adjustments of 1.49% and 3.70% , respectively, and not the increases of 5.88% and 8.69% requested by the institute,”
the authority said in a press release issued this Wednesday.
Why was the request rejected? The regulator clarified that the ICE did not adequately justify some investments that it tried to include in the rate proposal.