Government increases electricity rates by 11%

SANTO DOMINGO. The price of the electricity rates will undergo an 11% increase on all types of service this month, according to a report from the Superintendent of Electricity (SIE).

The agency took the measure via Resolution 265-2010 based on the results of the changes in price of the raw materials used by the electricity industry to calculate the indexed price which increased by 2.73% in relation to the month of November.

The resolution said, nevertheless, that with the aim of reducing the gap between the indexed price and the applied price, the increase in the electricity rates will be 11% across the board.

The SIE said that this month fuel oil Number 6 increased 6.5%, going from US$67.169 a barrel to US$71.5119 per barrel, while natural gas went down from US$4.314 per million BTU to US$3.887 per MMBTU, and coal was stable at US$71.65 per ton.

Regarding the exchange rate, the SIE said that the monthly average showed an increase fo=rom RD$37.29 to RD$37.30 to the dollar.

The SIE reported, nonetheless, that the average rate applied to electricity consumers continues to be below the indexed rate, due to the fact that the state has to make a contribution of RD$573.92 million.
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