Corporacion Multi Inversiones issued the following announcement on Jan. 20.
An increase in the contribution of renewable energies in El Salvador will reduce the average price of electricity for the final consumer by 9.74% until April.
The energy and telecommunications regulator, SIGET, also indicated that renewable energy accounted for 67% of the injections in the wholesale market in 4Q19 compared to 46% in 3Q19.
Hydroelectric generation led in October-December with 31.1%, followed by geothermal (23.4%), thermoelectric (15.1%), biomass (8.62%) and solar (3.9%), while imports accounted for 17.8%.
SIGET highlighted the start-up of new solar plants, higher rainfall and a fall in the international price of residual fuel.
In October, AES El Salvador completed the third and final phase of the 100MW Bosphorus solar project.
The adjustment of rates occurs in the middle of the government's launch of an economic stimulus plan.
"Nearly half of Salvadoran companies say the high cost of electricity is one of the biggest barriers to growth," according to the International Finance Corporation (IFC), which led a US $ 657mn financing package to support the first integrated LNG project in the country.
Original source: https://www.cmi.co/es/item/562-energias-renovables-reducen-precios-de-electricidad-en-el-salvador
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