A surprising increase in the price of electricity was announced by the Administration for Public Services (Asep). which causes concern among the population of Panama.
This increase in the price of electricity from January will be between 2% and 15%.
The impact will be particularly significant for those consumers who consume more than 300 kWh, as they will face a proportionately higher increase.
Electric companies justified this increase by pointing out problems in electricity transmission, which is run by a state-owned company, as well as in production, which includes both hydroelectric and thermal power plants.
Amid citizen concerns, Pedro Acosta, of the National Union of Consumers and Users of Panama, expressed concern about the possibility that this rate increase will affect the cost of food and other basic necessities.
In addition, he pointed out the non-transparency of companies, pointing out the presence of state and government representatives whose actions and statements are not known to citizens.
Acosta stated that while electric service has not been efficient, the companies have “a quarter” to justify their shortcomings, attributing them to transmission and production problems.
Despite criticism, 7% of customers will not be affected by this increase due to subsidies, such as the Exchange Rate Stabilization Fund.
Amid growing concern, the possibility is emerging that climate phenomena such as the El Niño phenomenon and variations in fuel prices could be additional causes of this increase in electricity prices.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
