CostaRica News – This announcement should become a surprise to……no one. Do not worry the cost of living will continue to increase in Costa Rica due to the fact that the government of Costa Rica runs the monopolies Recope and ICE.
Although they are not supposed to turn a profit by doing so the Costa Rican government gets more funding.
They pass the inefficient management of these businesses onto the public. This is why competition has not been allowed in either of these sectors of Costa Rica.
Now come the fun part….it is of course not their fault.
Do you remember what the Costa Rican Electricity Institute promised just five months ago? They committed to not raising the price we pay for electricity for the next 18 months. Well that commitment is now at risk but it’s “not ICE’s fault.”
As you will find out in Costa Rica nothing is ever anyone’s fault when it comes to the government.
In order to hold true to their word they need an increase they were counting on from ARESEP, the Regulatory Authority for Public Services. The Constitutional Court ordered the suspension of the public hearing intended for ARESEP to discuss the 13.2% adjustment issue.
This was supposed to be held last Thursday. The reason for the suspension was because they needed to study an appeal lodged against ARESEP.
After the hearing eventually happens, there is a month and a half given to make an evaluation, this means ICE will not be getting the money they anticipated having by January.
President Luis Guillermo Solís also stood behind the promise to not raise the electricity rates, but what can be done? The public interest and the financial stability of ICE are at risk.
