Home » Energy rates will rise due to the Government’s intervention in stock market prices

Energy rates will rise due to the Government’s intervention in stock market prices

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The Atlantic Interunion Committee has urged the Government to take measures to improve efficiency in all aspects related to energy, including generation, transmission, distribution and marketing.

The request includes the revocation of Resolution No. 40116 of the Ministry of Mines and Energy and Resolution No. 101042 of the Energy and Gas Regulation Commission (Creg).

The change in the trend of the reservoirs, which has been favorable in recent days due to the start of the rains, has led to a significant decrease in the price of energy on the stock market, going from $1,000 to $239.

However, the Inter-Union Committee notes that this has led to a disproportionate increase in the cost of restrictions for all energy demand.

The impact of this situation will be reflected in an even greater increase in electricity rates starting next month.

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According to the Committee, this is due to the obligation of thermoelectric plants to carry out forced dispatches and the new rules imposed for the dispatch of hydroelectric plants.

Creg Resolution No. 101042 has introduced significant rate increases, especially for the lower strata and the commercial and industrial sector. This increase in rates will punish excess energy consumption, with increases of up to 200%.

The Committee warns that this Government intervention rewards the inefficiencies of some hydroelectric plants and marketing companies, and will have a negative impact on buyers and consumers in general.

Furthermore, they point out that this measure could be counterproductive for the economy of the Caribbean Region, especially in sectors such as tourism, commercial and real estate, which largely depend on the supply of electrical energy.

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