BRIEFS. utilities

Electric rates expected to fall

Jorge Fernández/la prensa

power price: The cost of electricity is expected to decline because of falling oil prices, but many customers won’t see a difference.1133467

The National Authority for Public Services is likely to announce this Thursday that the falling price of oil will mean lower electric rates for some consumers.

Electric rates will be adjusted on Jan. 1, and will be in effect for the next six months. The rates are closely tied to the price of oil, which is used to generate a portion of the country’s electricity.

The government has been subsidizing part of the electric bills for consumers who use less than 500 kilowatts monthly. Because of that subsidy, those users won’t see any change in their rates.

Customers who use more than 500 kilowatts a month will likely see their costs decrease.