ECONOMY

Energy Ministry rejects PPC demand for big power rate hike

The Environment and Energy Ministry is making plans to raise electricity rates by 1.5 percent as of May 1, even though the Public Power Corporation had requested an average increase of 21 percent.

The reasoning behind the ministry and the government’s decision is for the lowest possible burden on consumers, while the current circumstances also favor a lower rate hike than that requested.

The government cites the issue of pollutants, whose cost has diminished considerably.

Even PPC accepts that it has reduced it power production costs, which is why it had asked for a rate increase of 21 percent and not 25 percent.