Reducing the tariff deficit through energy reforms is going to have a major impact on the energy sector, which will also endure an increase to power bills starting in August. Around 20,000 industrial companies with high tariff rates will see peajes, the fixed costs for power service, shoot up 8 percent. Overall energy costs will increase by 2.6%.
This is the minimum that industrial companies are expected to pay, because the variable costs associated with how much energy a customer uses could also rise.
The problem will be most serious for small- and medium-sized businesses whose contracts are not as cushy. For them, base power rates could go up by 200% according to a new energy reform law that goes into effect this August. Reducing the tariff deficit is important, but the method that lawmakers are using to do that are rasing some doubts.
Increases to the fixed portion of power bills will hurt second residences and empty dwellings most, becuase they will have to pay more even though their actual power usage will not increase. And even though the variable use-cost part of power bills could stay flat, the increased peaje will also hurt industrial companies -- especially the small businesses that will likely pass on the extra costs to consumers.
Technology companies will also pass along increased energy costs to their customers. The Ministery of Industry needs to closely watch how increased energy prices affect economic activity, because more hikes are coming later in the year, if it wants to avoid slowing down economic growth even more.
