Panama Electricity prices to drop |
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Written by Administrator
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The price of electricity in Panama will fall between three and four percent from Wednesday July 1 says the National Authority of Public Services. It is expected that the reduction will be of half a cent per kWh consumed, according to the net average tariff adjustment for the second semester of 2009.
The reduction in the cost of energy was establish, after the government
decided to acquire an insurance to cover expenses in the fuel variation clause,
that is valid until December 2009.
The partial subsidy will only benefit those clients that use less than 500
KWh per year.
However, to cover the constant increment of the the oil prices at
international level, the government set aside a fund of $40.7 million that will
be destined to stop the increase of electricity rates. Figures presented by the
local authorities showed that 90 per of customers will have lower electricity
bills.
The president of the Energy Secretariat, Dani Kuzniecky said that although
the oil derivatives are increasing, they will not affect the cost of the
electricity in the country for the next six months.
The Ricardo Martinelli administration will have to decide which measures is
going to take to keep the prices down
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