Electricity rates will drop 1% in May, announces Osinergmin

He Supervisory Agency for Investment in Energy and Mining (Osinergmin) announced a new reduction in electricity rates for the month of May 2023.

As of May 4, 2023, the electricity rates of the National Interconnected Electric System (SEIN) will be reduced on average by -1.00% for residential users and -1.39% for commercial and industrial users.

It should be remembered that the electricity tariff is made up of the efficient costs of generating, transmitting and distributing electricity to users.

In the case of electricity rates for Isolated Electrical Systemsthese will be reduced on average by -2.44% for home users and by -6.10% for commercial and industrial users.

In accordance with current regulations, electricity rates are reviewed by Osinergmin every month, based on update formulas and values ​​of indicators such as the Wholesale Price Index (IPM), the exchange rate, the price of natural gas, the price of bituminous coal, fuel prices, copper and aluminum prices; as well as of the contracts signed between generation and distribution companies to provide electricity to users.

Regarding the latter, Osinergmin said that the reduction in rates in the month of May is due to the following aspects:

• The approval of the Prices at the Generation Level in the SEIN through Resolution 069-2023-OS/CD.
• The setting of the Unit Tolls for Connection to the Main Transmission System through Resolution 056-2023-OS/CD and the modification of the Tolls and Compensations for Secondary and Complementary Transmission Systems through Resolution 057-2023-OS/CD.
• The approval of the Coincident Power Balance Factor in Peak Hours (FBP) and the Energy Price Weighting Factor (Ep) through Resolutions 070-2023-OS/CD and 071-2023-OS/CD, respectively.