Big electricity price hike in Costa Rica 'a blow to business'

A 9 percent increase in electricity tariffs is expected next month in Costa Rica, following a request from the state power utility, the ICE.

The new increase is in addition to one of 13 percent that was applied only last month.

Private-sector leaders expressed dismay at the new increase, which they described as an attack on the nation's ability to compete. "It won't be possible to make companies more competitive, reactivate the economy, and provide the jobs that are needed by 230,000 unemployed Costa Ricans," said Enrique Egloff, president of the Chamber of Industry.