Following the freezing of electricity rates for the past five years, increases in electricity bills will begin to take effect starting July 1 in a gradual process that will extend until 2026.
According to estimates by the Ministry of Energy, taking into account the entry into force of Law 21,667 on the Stabilization of Electricity Tariffs, increases for regulated customers in Ñuble will vary between 7% and 21% in July 2024, depending on household consumption. Meanwhile, in October, increases in final bills will be recorded ranging from 26% to 33%, compared to current rates.
In detail, for group 1, which are those customers who consume up to 180 kWh, the increase in July will be 7%; meanwhile, for group 2 (those who consume up to 400 kWh), which corresponds mainly to middle-class households with more than three members, the increase will be 21%, although without the Stabilization Law the increase would have been only 10%. As for group 3, that is, those who consume up to 550 kWh, which includes households and SMEs, the increase will be 16%, although without the Law it would have been 74%.
Nationally, it is estimated that 90% are in groups 1 and 2.
By October 2024, meanwhile, the increase in group 1 will be 26% compared to current rates, in group 2 it will be 33% and in group 3 it will grow by 28%. Without the Law, the increase in group 3 would have been 106%, but, on the other hand, the increase in group 2 would have reached 18%. It follows that group 2 will be the most affected.
In this context, the government announced the implementation of a subsidy focused on clients who make up the 40% of the most vulnerable population, a measure that has been described as insufficient by various political actors, although the Ministry of Finance stressed that there are no more resources available for this purpose, so the expansion of the subsidy coverage will depend on a formula that considers a new source of financing.
Gradualness
In January 2025, the increases in Ñuble will be 41% (group 1), 34% (group 2) and 29% (group 3) compared to current rates. In July 2025, the increases will reach 30%, 23% and 18%; in January 2026, they will reach 27%, 20% and 15% compared to today’s values; and in July 2026, they will remain at 27%, 20% and 15%.
“This law responsibly contributes to gradual increases in the rate. It is also important to mention that, in parallel with the implementation of the subsidy, a technical committee is analyzing and proposing different alternatives to expand coverage, but all of this is subject to a new source of financing,” said the regional minister of Energy in Ñuble, Dennis Rivas Oviedo.
The authority stressed that, “if the Stabilization Law had not been implemented, the increase would not have been around 33% at most in Ñuble, but rather it was projected to be over 100%. So, what is this aiming for? More than anything, it is to provide gradualness.”
The regional minister stressed that by 2026 the variations will decrease. “This is explained by the fact that we are paying the debt and as the debt is paid the amount will decrease. That is why it is expected that in the future the rates may even go down,” he concluded.
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