2011News

No electricity hikes this month

Your electricity rates will not go up this month, according to the Superintendence of Electricity (SIE). The Superintendence said that the government would postpone the increase until September. The 2.04% increase that is due to be applied would raise an estimated RD$1.36 billion, says the Superintendence. The SIE says that all of the variables went up: Natural gas, coal and the exchange rate. The authorities’ commitment to introduce a new “technical tariff” for electricity in an attempt to recover costs is “a very positive step,” according to Nemat Shafik of the IMF.