The Reventazón hydroelectric plant dam in Siquirres, Limón. According to ICE financial statements, the financing of the Reventazón represents 52% of the agency’s US$1.58 billion dollar debt. (DIANA MÉNDEZ)
When sales drop and financing costs go through the roof, in the real world this would mean financial disaster for a business, even bankruptcy. But not if you are a state power and former telecom monopoly like Instituto Costarricense de Electricidad (ICE), where you just raise the rates to cover the shortfall.
That is the plan by ICE who is seeking an increase of 18.82% in the electricity rates for 2018, citing declining energy sales and growth in debt payments, mostly in dollars.
The request was filed with the Autoridad Reguladora de los Servicios Públicos (Aresep), file ET-064 on