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Thursday, December 8, 2022

CFE rates up 6.8% for high-consumption homes

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The CFE has announced significant rate increases for July. Photo: NVI
The CFE has announced significant rate increases for July. Photo: NVI

The Federal Electricity Commission — the CFE — announced increases in electricity tariffs for high-consumption households, the industrial sector and commercial customers. Their own rising fuel prices were cited.

In June, the price of fuel oil increased 8.4 percent, while natural gas increased 18 percent. So the strategy of announcing monthly reductions in the coming 18 months has been disrupted by what they call their own excessive dependence on imported fuels such as natural gas, the CFE announced.

Household high-consumption rates in July increased 6.8 percent compared to June. Industrial tariffs were increased in July between 2 and 5 percent; in the commercial sector the increase is between 5 and 7 percent.

Homes that gauge low consumption of energy will not see an increase in their rates.

The utility explained that their strategy has been to gradually replace fuel oil and diesel with lower-cost energy sources such as natural gas and hydropower.

However, it is projected to substantially increase its imports of natural gas in the coming years as part of national energy reform, which binds the country to the vagaries of the North American fuel market.

Source: Press release

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