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Monday, July 4, 2022

CFE raises rates and is apparently inflexible on terms

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Household electricity rates are up 4% this month despite an overall reduction in fuel costs sold on the international market.

The increase occurs in the midst of the coronavirus crisis, when money has stopped flowing to workers and business owners.

CFE data indicates that April bills will have customers paying 0.837 pesos for each of the first 75 kilowatt-hours in the basic consumption range.

The figure represents an increase of 0.044 pesos or 5.5% compared to the 0.793 pesos per kilowatt hour that had been maintained for almost the entire last six-year period, as part of the aid for low-income families.

When comparing this month’s rate with that of April 2019, the increase was 4 percent, according to Excelsior.

The rate increase is added to the Mexico’s power utility refusal to discount bills or allow late payments. CFE Director Manuel Bartlett said that agency has its own cash flow issues, including a commitment to pay for fuels and to meet payroll.

Source: Excelsior

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