Ram Power to Increase Rates 17%
Ram power has received permission from the Nicaraguan government to increase the wholesale electrical rates from its geothermal plant by 17% with increments after that. This is described in their press release.
The press release goes on to say that these rates will be 37% below the average wholesale electricity rates. Unfortunately, there are no real numbers -- just percentages quoted. With most of Nicaragua's electricity coming from petroleum-fired plants, that doesn't sound cheap enough. If Nicaragua wants to become a serious electricity exporter it would seem like it needs to do better. I (also) don't have real numbers but most of Costa Rica's electricity comes from renewable sources.
The tariff increase request was thoroughly reviewed by the Nicaraguan Ministry of Energy and Mines ("MEM"), the Nicaraguan Energy Institute ("INE"), Disnorte-Dissur, a subsidiary of Gas Natural Fenosa (the power purchaser under the power purchase agreement for the Project), and the Nicaragua Energy Cabinet whose recommendation was subsequently acknowledged by Nicaraguan President Daniel Ortega. The formal documentation implementing the increased tariff is now expected to be registered expeditiously by INE.